Nordic Semiconductor slides after CEO steps down
12/12/2023 08:59
** Shares in Nordic Semiconductor NOD.OL fall 4.5% after
the Norwegian fabless chip maker said CEO Svenn-Tore Larsen
would step down after 22 years in the role
** The company appoints Vegard Wollan as new CEO, set to
take over on Jan. 1, 2024; Larsen will continue his duties until
the end of the year
** The group says Wollan's appointment comes after an
extensive global search in 2021, part of a succession plan to
"safeguard the long-term strategic development of the company"
** Since Larsen took over in 2002, the company's share price
has seen an increase of 3836%
** Including Tuesday's fall, the stock has fallen around 33%
YTD
(Reporting by Jesus Calero)
((Jesus.calero@thomsonreuters.com))