National Semi CEO Halla to step down

SAN FRANCISCO, USA: National Semiconductor Corp CEO Brian Halla will call it quits on November 30, but will stay on as executive chairman of the company's board of directors through next May.

However, he will remain the executive chairman of the company, said a press release. Halla will be succeeded by Donald (Don) Macleod, who will become the company's president and chief executive officer (CEO) and be appointed to its Board of Directors effective November 30, 2009.

Macleod currently serves as National's president and chief operating officer (COO).

The company has stated that the decision by Halla, who has consistently been among the most outspoken semiconductor company CEOs and active in Semiconductor Industry Association trade group, comes following stagnation in the growth of the company in recent years.

Meanwhile, Macleod, who has been with National since 1978, has been involved in a variety of finance and marketing positions. The company, which had been witnessing layoffs and cutbacks, continues to lag in its core analog business and is losing share of the market.

In March, National Semiconductor said it planned to close two facilities and cut 1,725 jobs, or 26 percent of its workforce, after reporting that revenue declined by more than 30 percent for the March quarter. However, it managed to beat Wall Street's expectations for the September quarter, thanks to the analog market.

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