Mr. Lesaicherre succeeds Michael C. Holt and will report directly to Philips Lighting’s acting Chief Executive Officer Frans van Houten.

“Pierre Yves' tremendous experience at NXP Semiconductors, most recently as Senior Vice President & General Manager of the business lines Microcontrollers & Logic, make him uniquely qualified to lead Philips Lumileds into the new world of lighting,” said Frans van Houten. “I'm confident Pierre Yves will drive Philips Lumileds performance and actively shape the fast changing LED illumination market,” he added.

“At the same time I also thank Mike Holt, Lumileds’ first CEO, who for more than a decade has led the company as it invented and introduced high power LEDs and opened entirely new lighting segments. Mike is retiring to enjoy more time with his family,” said van Houten. Pierre Yves Lesaicherre joins Lumileds with more than two decades of experience in the semiconductor and component industry. He lives in Silicon Valley and speaks multiple languages including French and Japanese.  Philips Lumileds is a leading provider of LEDs for illumination solutions. Its LUXEON products deliver high light output, high efficacy and a more environmentally friendly light source, demonstrating its commitment to innovation.