Freescale gets new CEO, faces challenging times

Semiconductor firm Freescale has replaced its former CEO Michel Mayer with Rich Beyer, former CEO of chip maker Intersil Corp. According to a Wall Street Journal report, the new CEO will face challenging times as Freescale struggles with lagging demand from Motorola and other customers.

Freescale's 2007 sales were down 10 percent to $5.72 billion and its cellular chips, which totaled $1.22 billion were down 18 percent. The firm is also hurting from Motorola's recent announcement that it will begin to use Qualcomm's chips for some of its handsets.

For more on Freescale:
- see this WSJ article. (sub. req.)

Related stories:
- Blackstone to buy Freescale for $17.6 billion. Article
- Freescale Semiconductor announced that Michel Mayer, chairman and CEO, has decided to step down. Release