NEC CEO resigned 10 semiconductor company 8 has been coaching

Said NEC Electronics Corp. semiconductor giant, because the loss continues to expand, President and chief executive officer of Kaoru Tosaka, has resigned. Kaoru Tosaka is a senior corporate consultant and director. Toshio Nakajima will take over his former duties, effective from November 1st.

Nakajima NEC joined in 1970, NEC served as executive vice president and director of electronic. NEC Corp. owns 70% stake in NEC electronics. NEC electronics in November 1, 2002 from the parent company NEC independent, specializing in semiconductor business, mainly system LSI products. NEC annual sales of about $6 billion 600 million, currently has 24 thousand employees worldwide.

NEC electronics in most areas of the chip sales decline, resulting in a loss. Due to the decline in the wireless market, the company's communications chip business fell 34.9% over the previous year. It has also been hit hard in the automotive, consumer, PC and other sectors.

The third quarter of 2005, MEC loss of $13 million 400 thousand, the third consecutive quarter of losses. The last 6 months (4-9 months), NEC electronics revenue of $2 billion 760 million, compared with the same period last year fell by 17%. Loss of $70 million, compared to a profit of $154 million.

NEC electronics is expected annual sales of 635 billion yen, down 10% over the previous year. Expected annual loss of $177 million, while last year was $47 million 500 thousand profit.

Kaoru Tosaka is the latest in a resignation of semiconductor giant CEO. During 2004-2005, the global semiconductor industry set off a wave of change, including Intel, TI, Infineon and Renesas technology, Toshiba Co, STMicroelectronics, PHILPS, SANYO electric, semiconductor Sony Corp and TSMC CEO changes. In the top 10 semiconductor companies, only Samsung Electronics and fly Carle CEO did not change.