Here are 1-2 brief analogies for ON Semiconductor:

• ON Semiconductor is like Texas Instruments (TI) for critical power and sensing chips in electric vehicles and industrial systems.
• ON Semiconductor is like Infineon Technologies, specializing in intelligent power and sensing solutions for automotive and industrial markets.

• Power Management ICs: Integrated circuits designed to efficiently manage and convert electrical power in various applications.
• Analog & Mixed-Signal ICs: Components that process continuous signals and combine both analog and digital functionalities for diverse electronic systems.
• CMOS Image Sensors: Devices used to capture visual data in applications such as automotive cameras, industrial imaging, and security systems.
• Discrete Power Devices: Individual semiconductor components like MOSFETs, IGBTs, and rectifiers used for power conversion, switching, and control.
• Automotive Solutions: Specialized semiconductors supporting advanced driver-assistance systems (ADAS), vehicle electrification, and infotainment within the automotive sector.

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Hassane El-Khoury, President and Chief Executive Officer

Hassane El-Khoury was appointed President and CEO of onsemi (formerly ON Semiconductor) in December 2020. Before joining onsemi, he served as President, Chief Executive Officer, and a board member at Cypress Semiconductor until its sale to Infineon in April 2020. During his thirteen years at Cypress, he held various roles, including business unit management, product development, applications engineering, and business development. El-Khoury led Cypress through a significant transformation, with his "Cypress 3.0" strategy resulting in record-high stock price, revenue, and cash flow within two years of his CEO tenure. He engineered the $9 billion sale of Cypress to Infineon. El-Khoury began his career as a senior design engineer at Continental Automotive Systems. He earned a Bachelor of Science in electrical engineering from Lawrence Technological University and a Master's in engineering management from Oakland University.

Thad Trent, Executive Vice President and Chief Financial Officer

Thad Trent was appointed Executive Vice President and Chief Financial Officer of onsemi in February 2021. Previously, he was CFO at Cypress Semiconductor, where his responsibilities included strategic planning, accounting, investor relations, tax, corporate development, and information technology. Under his financial leadership, Cypress' revenue grew from $723 million to $2.5 billion, and its enterprise value increased fivefold during his five-year tenure as CFO. He served as CFO at Cypress Semiconductor until its acquisition by Infineon in April 2020. Trent is a seasoned finance professional with leadership experience in both global publicly held technology companies and startups. He holds a Bachelor of Science in business administration and finance from San Diego State University.

Felicity Carson, Senior Vice President and Chief Marketing Officer

Felicity Carson joined onsemi in August 2021 as Senior Vice President and Chief Marketing Officer. She is an experienced global marketing leader with extensive B2B experience across middleware, applications, industrial software, and technology. Prior to onsemi, Carson served as Senior Vice President of Global Performance Marketing at AVEVA. Her career also includes a two-year tenure at SAP as Head of Customer Experience and Global Events, and over 17 years at IBM, where she led various marketing functions, including CMO for IBM Watson Customer Engagement, a $1.4 billion business unit. She was recognized for her contributions to IBM's marketing transformation and was voted one of the top 10 most influential women in MarTech by B2B Marketing in 2016.

Paul Dutton, Senior Vice President, Chief Legal Officer and Secretary

Paul Dutton was named Senior Vice President, Chief Legal Officer and Secretary of onsemi in May 2024. He is an accomplished attorney with over 23 years of experience in securities, mergers and acquisitions, venture capital, structured finance, and corporate and transactional law. Since joining onsemi in May 2022, he has been a driving force behind various corporate initiatives, including public company reporting, compliance, and governance, and has partnered with the executive team on numerous strategic initiatives. Before onsemi, Dutton worked for Infineon Technologies, Cypress Semiconductor Corporation, United Online, MobileIron, and MIPS Technologies, as well as law firms in Silicon Valley and New York. He holds a Bachelor of Arts in Political Science and a Juris Doctor degree from the University of Michigan Law School.

Simon Keeton, Group President, Power Solutions Group

Simon Keeton serves as the Group President of the Power Solutions Group at onsemi. In this role, he leads one of the company's key business units focused on power solutions.

The key risks to ON Semiconductor's business include:

1. Market Cyclicality and Demand Fluctuations: The semiconductor industry is inherently cyclical, and ON Semiconductor is significantly exposed to demand fluctuations, particularly within the automotive and industrial markets. Recent reports indicate a decline in revenue, especially due to decreased demand in these end-markets and weaker electric vehicle (EV) demand impacting sales of silicon carbide (SiC) chips. The uncertainty surrounding market recovery and the timing of a bottom in these segments poses a substantial risk to the company's financial performance.
2. Intense Competition and Commoditization: ON Semiconductor operates in a highly competitive industry characterized by rapid technological changes. The company must continuously invest in research and development to maintain its market position. A specific concern is the potential for commoditization of its silicon carbide (SiC) business, which is a key growth driver for the company, potentially leading to pricing pressures and reduced margins.
3. Operational Risks: Disruptions in manufacturing processes, reliance on third-party suppliers, and the need for efficient operations present significant operational risks. The company's manufacturing network is highly interdependent, meaning any interruption could materially affect its operations and ability to meet demand.

ON Semiconductor (onsemi) is a leading supplier of intelligent power and sensing technologies, with its main products and services catering to the automotive, industrial, and consumer electronics markets. The company's key product areas include power management solutions, image sensors, and discrete semiconductor devices, with a significant focus on Silicon Carbide (SiC) technology for electric vehicles (EVs).

The addressable markets for ON Semiconductor's main products and services are substantial and growing:

• Automotive Semiconductor Market: The global automotive semiconductor market was valued at approximately USD 74.3 billion in 2024 and is projected to reach USD 164.7 billion by 2034, exhibiting a Compound Annual Growth Rate (CAGR) of 8.4% from 2025 to 2034. Another estimate places the global market at USD 100.48 billion in 2025, forecast to expand to USD 142.87 billion by 2030 with a CAGR of 7.29%. The Asia Pacific region held over 45% of the global market in 2022 and is expected to dominate by 2030.
• Power Semiconductor Market: Globally, the power semiconductor market was valued at USD 52.57 billion in 2024 and is projected to reach USD 81.70 billion by 2034, with a CAGR of 4.51% from 2025 to 2034. Another report indicates a market size of USD 56.87 billion in 2025, expected to reach USD 74.36 billion by 2030, growing at a CAGR of 5.51%. The Asia Pacific region led the market with a 41% share in 2024, valued at USD 21.55 billion, and is projected to grow to approximately USD 33.58 billion by 2034.
• Silicon Carbide (SiC) Market: The global silicon carbide market is projected to grow from USD 3.83 billion in 2025 to USD 12.03 billion by 2030, at a robust CAGR of 25.7%. Other estimates show the market at USD 5.23 billion in 2024, reaching USD 9.15 billion by 2030 with an 8.7% CAGR. The Asia Pacific region accounted for over 59% of the global silicon carbide market revenue share in 2024.
• Image Sensors Market: The global image sensors market size was estimated at USD 25.07 billion in 2024 and is predicted to increase to approximately USD 47.73 billion by 2034, expanding at a CAGR of 6.65% from 2025 to 2034. Another source states the market reached USD 28.5 billion in 2024 and is expected to reach USD 57.3 billion by 2033, with a CAGR of 7.67% during 2025-2033. North America held the largest share of the market (30%) in 2024, with the U.S. market alone valued at USD 5.64 billion in 2024, projected to reach USD 10.77 billion by 2034.
• Intelligent Power Module (IPM) Market: The global intelligent power module market size is estimated at USD 2.99 billion in 2025 and is predicted to reach approximately USD 6.03 billion by 2034, accelerating at a CAGR of 8.10% from 2025 to 2034. The Asia Pacific intelligent power module market size was USD 1.17 billion in 2025 and is expected to expand at a CAGR of 8.30% during the forecast period.
• Smart Sensors Market: The global intelligent sensors market was valued at USD 72.6 billion in 2024 and is projected to reach USD 306.9 billion by 2035, growing at a CAGR of 14.0% from 2025 to 2035. North America held a significant market share of over 40% of the global revenue in 2025, valued at USD 24.47 billion, and is projected to grow at a CAGR of 16.8% from 2025 to 2033.

ON Semiconductor is strategically positioned for future revenue growth, primarily driven by its focus on high-growth applications in the automotive, industrial, and artificial intelligence (AI) sectors. The company's emphasis on intelligent power and sensing technologies, particularly silicon carbide (SiC) and advanced power management solutions, underpins its long-term strategy.

1. Automotive Electrification and Advanced Driver-Assistance Systems (ADAS): A significant driver for ON Semiconductor is the ongoing trend of vehicle electrification and the increasing adoption of ADAS and autonomous driving technologies. The company is concentrating on intelligent power and sensing solutions for the automotive sector, with a specific focus on silicon carbide (SiC) for electric vehicles (EVs) to enhance powertrain efficiency, extend battery life, and improve charging speeds. ON Semiconductor expects SiC to outpace the broader automotive industry as EV adoption and penetration rates increase, particularly with the transition to 800-volt EV platforms. The company is also a leading supplier of image sensors for automotive ADAS applications.
2. Growth in the Industrial Sector: ON Semiconductor is targeting the industrial sector as another key area for revenue growth, particularly in applications related to renewable energy and industrial automation. While the industrial market has faced softness, the company is investing in its power portfolio to address emerging trends in renewable energy, such as utility-scale solar. Opportunities also exist in industrial robotics and factory automation.
3. Expansion of Silicon Carbide (SiC) Technology and Vertical Integration: Silicon carbide remains a core growth driver, especially for high-efficiency power solutions in electric vehicles, charging stations, and renewable energy systems. ON Semiconductor is investing heavily in vertical integration for its SiC manufacturing, from substrate to assembly, to secure its supply chain, optimize energy efficiency, and improve margins. This strategy aims to enhance competitive advantage and capture a larger share of the growing SiC market.
4. AI Data Centers and Advanced Power Management: The demand for more efficient power solutions in AI-powered data centers presents a substantial growth opportunity for ON Semiconductor. The company's AI-related products, including advanced power management chips and recently introduced vertical Gallium Nitride (vGaN) technology, are crucial for handling the skyrocketing compute loads and energy demands of AI infrastructure. Strategic investments, such as the acquisition of Vcore Power Technology, further strengthen its offerings for next-generation AI data centers and compute platforms.

1. Share Repurchases
   • ON Semiconductor announced a new $3 billion share repurchase program in February 2023, authorized through December 31, 2025.
   • Since the program's inception in February 2023, the company has repurchased $2.1 billion in shares as of Q3 2025, with approximately $861 million remaining on the authorization.
   • Year-to-date in 2025, share repurchases totaled $925 million, which approximated 100% of free cash flow.
2. Share Issuance
   • In May 2021, ON Semiconductor completed a private offering of $700 million aggregate principal amount of 0% Convertible Senior Notes due 2027.
   • The conversion of these notes could involve the issuance of common stock, at the company's election.
3. Inbound Investments
   • In June 2024, ON Semiconductor announced a planned investment of approximately $2 billion (over CZK 40 billion) to expand its factory in Rožnov pod Radhoštěm, Czech Republic, with CzechInvest playing a key role in facilitating this significant investment in the region.
4. Outbound Investments
   • In August 2021, ON Semiconductor agreed to acquire GT Advanced Technologies for $415 million.
   • The company completed the acquisition of SWIR Vision Systems in July 2024 and the acquisition of rights to Vcore power technologies from Aura Semiconductor in October 2025.
   • In January 2025, ON Semiconductor completed the acquisition of Qorvo's Silicon Carbide JFET Business for $118.8 million.
5. Capital Expenditures
   • ON Semiconductor's capital expenditures averaged $848.9 million annually from fiscal years 2020 to 2024, peaking at $1.539 billion in December 2023 and reaching a five-year low of $483.6 million in December 2020.
   • Capital expenditures for Q3 2025 were $46 million, with an expected range of $20 million to $40 million for Q4 2025.
   • The primary focus of capital expenditures includes ramping silicon carbide in support of long-term supply agreements and investments in silicon carbide chip manufacturing capacity, particularly for automotive and industrial markets.