Freescale Names New CEO

Austin-based semiconductor maker Freescale Semiconductor has recruited away a VP from Texas Instruments as its new CEO, saying this morning that it has named Gregg A. Lowe--formerly TI's SVP and Manager of its Analog business--to head up the company as President and CEO. Lowe replaces Rich Beyer, who will transition to a position on the board, and who also is handing over his Chairman position to current board member J. Daniel McCranie. Reasons for the shift in leadership were not given by the company. Lowe has been at TI since 1984, and has served in a wide range of leadership positions at that company.