Hassane El-Khoury has been named president, chief executive officer of Cypress Semiconductor Corporation.Current Cypress board chairman, Ray Bingham, will now become the company’s executive chairman, but according to a Cypress statement, will maintain “a day-to-day role” with the company focusing on meeting with customers and investment opportunities.

“The goal of our comprehensive internal and external executive search was to identify a CEO who would drive the transformation of Cypress, expand our leadership position in embedded systems and enhance our focus on revenue and earnings growth and long-term shareholder value,” said Bingham, a 30-year veteran of the semiconductor industry who sits on numerous high-tech boards of directors in addition to Cypress. “Among the many interested and qualified candidates we interviewed, El-Khoury emerged as the clear executive leader to deliver on Cypress’s enormous potential and unlock its value for customers and investors. He has demonstrated strong leadership and judgment over the past nine years as a senior executive at Cypress, heading up some of the company’s most innovative and successful businesses.

“Cypress is at an inflection point,” said El-Khoury, who played a key role in Cypress’s successful integration with Spansion over the last year and a half and its more recent acquisition of Broadcom’s Internet of Things (IoT) business. “

Before joining Cypress in 2007, El-Khoury served in various roles with Continental Automotive Systems in the U.S., Germany and Japan.

Source: Cypress Semiconductor