Vedanta names David Reed as CEO of semiconductor business
Vedanta announced on Monday that David Reed has been named CEO of its semiconductor business. According to the company, he will be in charge of establishing a cutting-edge semiconductor fab unit as well as a semiconductor assembling and testing unit.
Reed was previously Executive Vice President and General Manager of Global Operations at NXP Semiconductors. He joined NXP as part of the company’s merger with Freescale Semiconductor, where he was Senior Vice President of Manufacturing Operations. David was previously Vice President and General Manager at GlobalFoundries.
Anil Agarwal, Chairman, Vedanta said, “He has played a pivotal role in shaping the entire global semiconductor industry. His expertise and experience will be an asset as we embark upon this critical journey with Foxconn to help create a sustainable domestic electronic manufacturing ecosystem in India, in line with Prime Minister Narendra Modi’s vision of an AatmaNirbhar Bharat.”
“This venture is a watershed development for the global semiconductor industry, and I am excited to be part of it,” Reed said in a statement.
Vedanta and Foxconn signed an MoU with the Gujarat government in September 2022 to establish India’s first semiconductor fab unit, a display fab unit, and a semiconductor assembling and testing unit in the state.
A total of Rs 1.54 lakh crore will be invested in the state, with Rs 94,500 crore going towards the establishment of a display fabrication manufacturing unit and another Rs 60,000 crore going towards the establishment of a semiconductor fabrication and outsourced semiconductor assembly and test (OSAT) unit.
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