Rich Beyer starts today as CEO of Freescale Semiconductor and he seems to have kicked off on the right foot.
In a message to employees he writes:
“In my first 100 days, I plan to be on the road meeting with our top customers and talking with employees around the world. I will conduct formal and informal employee meetings and you should expect to see me in your work area. I really believe in the concept of management by walking around. But, please don’t wait for me to come to you. If you have a question or suggestion, please e-mail me at rich.beyer@freescale.com. You have my commitment to personally read and respond to all inputs.”
Beyer adds: “I plan to do an in-depth review of each of our product families within the first 30 days. I will also evaluate our position in each of our markets – networking, wireless, transportation, consumer and industrial. And I will get a thorough assessment of each of our geographic regions, operations, technology development programs and all supporting business functions.”
There is no doubt that Blackstone has shown itself to be a responsible owner of Freescale by getting Beyer on Board.
By now, Blackstone know they overpaid for Freescale and, since the sale, Freescale has had a lot of troubles, not of its own making, which have eroded Freescale’s value.
Instead of running for the exit, Blackstone has got one of the very best CEOs in the semiconductor industry to run Freescale.
And that shows Blackstone is set on running Freescale as a proper business, i.e. for long-term sales and profit growth, rather than splitting it up to try and cut its losses.
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