AUSTIN, Texas-Freescale Semiconductors Inc. announced fourth-quarter profits as Scott Anderson, its president and chief operating officer, left the company stating it was time to move on.
The company reported a full-year net income of $211 million, or 62 cents per diluted share, compared with a loss of $366 million in fiscal year 2003. For the quarter, it earned $5 million, or 1 cent per diluted share, compared with $98 million in the fourth quarter of 2003 and $57 million in the third quarter of 2004.
“We are encouraged by the improvement of our financial performance across all business during 2004,” said Michel Meyer, chairman and chief executive officer of the company.
Anderson’s departure ends a 27-year career with Freescale, which only recently became a standalone company after prying loose from its parent Motorola Inc. as its semiconductor division.
“Now that Freescale is firmly established as a fully independent company, I believe this is the right time for me to move on,” Anderson
The company’s senior vice president of manufacturing, Chris Belden, also has resigned after a 22-year career with the company.
While Freescale has no plans to replace Anderson, it announced Alex Pepe as Belden’s replacement. Alex Pepe is currently vice president and general manager of the 32-bit embedded controller division of the company’s transportation and standard products group.
