Lumileds Appoints Mark Adams As CEO
Ex-Micron president joins company in readiness for sell-off to US private equity company
Philips' LED subsidiary Lumileds has appointed Mark Adams - previously president of memory company Micron Technology - as its new CEO.
Adams will join the company prior to its sell-off to Apollo Global Management, a US private equity company. Philips announced on December 12, 2016 that it had signed an agreement to sell a majority interest in Lumileds to certain funds managed by affiliates of Apollo in a transaction worth around $1.5 billion. The deal is expected to complete in the first half of 2017.
"I am very excited to join the team at Lumileds and have the support of Philips and Apollo to execute the company's vision", said Mark Adams. "We will build upon Lumileds' robust innovation pipeline, technology leadership and strong customer base to drive Lumileds' future growth."
Adams served as president of Micron Technology from 2012 to 2016. Between 2008 and 2012, he held the position of VP, worldwide sales at Micron. He also served in executive roles at Lexar Media, Creative Labs, and NCR Corporation. He received his Bachelor of Arts degree in Economics in 1987 from Boston College and his MBA in 1995 from Harvard University.
Adams currently sits on the board of directors at Cadence Design Systems and Seagate Technology.
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