Renesas Electronics Announces Executive Personnel Changes and New Organization Structure

As announced on March 22, 2019 PDT, March 23 , 2019 JST, in the press
release entitled “Renesas and IDT Announce Final Regulatory Approval
for Renesas’ Proposed Acquisition of IDT,” Renesas Electronics
Corporation (TSE: 6723), a premier supplier of advanced semiconductor
solutions, expects the acquisition of Integrated Device Technology, Inc.
(“IDT”) to close on March 29, 2019 PDT, March 30, 2019 JST. Following
this move, Renesas will accelerate its efforts towards the realization
of “One Global Renesas” with the appointment of new executive personnel
and a change in its organizational structure. The changes to executive
personnel and an organization moving to a two-business unit structure
will be implemented step-by-step, as detailed below, with the new
organizational structure scheduled to be in place by July 2019.

1. Background to New Executive Personnel and Change in Organizational
Structure

Aimed at achieving stable and sustainable growth in the rapidly
changing, intensely competitive semiconductor market and becoming a
global leading supplier of semiconductor solutions in the focus
segments, Renesas has been working to expand and strengthen its business
portfolio. As part of this initiative, in February 2017, Renesas
acquired Intersil Corporation (“Intersil”) and its business in analog
semiconductor devices, particularly power management ICs. Furthermore,
with the completion of the IDT acquisition, Renesas will gain IDT’s
expertise in analog semiconductor devices for applications centered on
sensors, connectivity, and wireless power, extending its portfolio still
further.

Following the acquisition of Intersil, Renesas pursued the integration
of Intersil into its business operations to move beyond its
Japan-centric management approach and advance towards the goal of
realizing “One Global Renesas” by adopting a management approach based
on a cross-regional, global organizational structure. The IDT
acquisition will further accelerate this process, and in order to assure
a smooth business integration transition, Dr. Sailesh Chittipeddi, IDT’s
current Executive Vice President, Global Operations and Chief Technology
Officer of IDT, will assume the concurrent posts of President and CEO of
IDT and Executive Vice President of Renesas effective March 30, 2019.

Additionally, in order to efficiently and rapidly carry out the
integration of IDT’s business operations, Renesas will merge the current
Industrial Solution Business Unit (“IBU”) and Broad-based Solution
Business Unit (“BBU”), which oversee businesses in a wide range of
fields, including non-automotive industrial and infrastructure, to form
the new IoT and Infrastructure Business Unit (“IIBU”), effective July 1,
2019. Together with the current Automotive Solution Business Unit
(“ABU”), which oversees the automotive business, the IIBU will
consolidate its position as the second pillar of Renesas’ business model
moving forwards. Dr. Sailesh Chittipeddi will lead IIBU, where he will
work to accelerate the generation of synergies between digital and
analog through consolidation of IBU and BBU as well as IDT’s
integration. The transition to this new organizational structure based
on two business units, ABU and IIBU, will enable Renesas to efficiently
and swiftly focus its resources on products and solutions with high
profit ratios and an ability to generate cash, giving rise to solutions
that are both highly competitive and provide high added value, and
realizing future growth as “One Global Renesas.”

2. Outline of the Executive Personnel Changes

Note: Asterisks (*) indicate position currently held.

(1) Change in Executive Vice Presidents

[As of March 30, 2019]
New Executive Vice President:

Sailesh Chittipeddi, Executive Vice President, Global Operations and
Chief Technology Officer of IDT *
(Note) Dr. Chittipeddi will also
assume the role of President and CEO of IDT as of March 30, 2019.

[As of March 31, 2019]
Retiring Executive Vice Presidents:

Yoshikazu Yokota, Executive Vice President and General Manager of
Industrial Solution Business Unit*
(Note) Mr. Yokota will assume
the role of Fellow effective April 1, 2019.

Necip Sayiner, Executive Vice President and General Manager of
Broad-based Solution Business Unit*

(2) Change in Senior Vice Presidents

[As of March 31, 2019]
Retiring Senior Vice President:

Michael Hannawald, Senior Vice President and Deputy General Manager of
Industrial Solution Business Unit*

[As of April 1, 2019]
New Senior Vice Presidents:

Chris Allexandre, Senior Vice President of Global Sales and Marketing,
IDT*

Roger Wendelken, Vice President of Global Sales Division, Broad-based
Solution Business Unit*

(3). Reference: Executive team as of April 1, 2019

3. New Organizational Chart and Scope of Responsibility of Executive
Vice Presidents and Senior Vice Presidents

The transition to the new organizational structure will proceed
step-by-step, taking factors such as the state of the business
integration preparations with IDT into account.

(Note)

*1 Olav Schulte: Effective April 1, 2019, Mr. Schulte will assume the
role of President of Renesas Electronics Europe GmbH.

*2 Sailesh Chittipeddi: Effective April 1, 2019, Dr. Chittipeddi will
assume the role of President of Renesas Electronics America Inc.

*3 Hiroto Nitta: Effective April 1, 2019, Mr. Nitta will assume the role
of Head of Industrial Solution Business in the Industrial Solution
Business Unit and continue to assume current role of Vice President of
Broad-based Marketing Division in the Broad-based Solution Business
Unit. Then, effective July 1, 2019, Mr. Nitta will assume the role of
Head of SoC Business in the IoT and Infrastructure Business Unit.

*4 Chris Allexandre: Effective April 1, 2019, Mr. Allexandre will assume
the role of Head of Sales in both the Industrial Solution Business Unit
and the Broad-based Solution Business Unit. Then effective July 1, 2019,
Mr. Allexandre will assume the role of Head of Sales and Corporate
Digital Marketing in the IoT and Infrastructure Business Unit.

*5 Roger Wendelken: Effective April 1, 2019, Mr. Wendelken will assume
the role of Head of Broad-based MCU Business in the Broad-based Solution
Business Unit. Then effective July 1, 2019, Mr. Wendelken will assume
the role of Head of MCU Business in the IoT and Infrastructure Business
Unit.

*6 Tomomitsu Maoka: Effective April 1, 2019, Mr. Maoka will assume the
role of Deputy General Manager of the Production and Technology Unit.

*7 IoT and Infrastructure Business Unit: Effective July 1, 2019, The
Industrial Solution Business Unit and the Broad-based Solution Business
Unit will be merged to form the IoT and Infrastructure Business Unit.

About Renesas Electronics Corporation

Renesas Electronics Corporation (TSE:
6723) delivers trusted embedded design innovation with complete
semiconductor solutions that enable billions of connected, intelligent
devices to enhance the way people work and live. A global
leader in microcontrollers, analog, power, and SoC products, Renesas
provides comprehensive solutions for a broad range of automotive,
industrial, home electronics, office automation, and information
communication technology applications that help shape a limitless
future. Learn more at renesas.com.

(Remarks) All other names of products or services mentioned in this
press release are trademarks or registered trademarks of their
respective owners.

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