Keith Jackson, President and Chief Executive Officer (CEO) of ON Semiconductor, plans to retire from ON Semiconductor in May 2021. Jackson also intends to give up his seat on the Board of Directors and therefore will not stand for re-election at the 2021 Annual General Meeting.

"I have had the privilege of working in the semiconductor industry for more than 40 years and leading ON Semiconductor has been the highlight of my career,” said Jackson. "It has been a pleasure working with our remarkable employees to witness the expansive growth of the company since 2002. I believe now is the right time, though, to start transitioning the leadership of the company as it will allow me to spend more time with my family and wonderful grandchildren."

Keith Jackson has been at the helm of the semiconductor manufacturer for 18 years

Jackson joined ON Semiconductor in 2002 as President and Chief Executive Officer. During his tenure, the company grew rapidly, with market capitalization increasing from approximately $300 million in 2002 to approximately 8.9 billion US Dollar in 2020 and sales from approximately 1.1 billion US Dollar in 2002 to approximately 5.5 billion US Dollar in 2019, making On Semiconductor one of the Fortune 500 companies. The semiconductor manufacturer employs approximately 35,000 people worldwide.

Jackson has also been instrumental in leading the growth of the company's product offerings, both through organic development, particularly of automotive, industrial and Internet of Things products, and through significant strategic expansions of the company, including the acquisitions of AMI Semiconductor, Aptina Imaging, Fairchild Semiconductor International, Inc. and Quantenna Communications, Inc.