Lena Olving
NXP SemiconductorsAbout Lena Olving
Independent non-executive director of NXP Semiconductors N.V. since 2019; age 68. Former President and CEO of Mycronic AB (2013–2019) with prior senior leadership at Saab AB (Deputy CEO/COO) and 25 years at Volvo Car Corporation, including time in Asia Pacific and executive management. Education: Master of Science in Mechanical Engineering from Chalmers University of Technology; recognized with H.M. The King’s Medal (2018), IVA Gold Medal (2019), and Gustaf Dalén Gold Medal (2023) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Mycronic AB (Nasdaq OMX Stockholm) | President & CEO | 2013–2019 | Led high‑tech equipment company serving electronics industry |
| Saab AB (Defense & Security) | Deputy CEO and COO | — | Senior operating leadership |
| Volvo Car Corporation | Various managerial roles; Executive Management Team | 25 years | Global operations including 5 years in Asia Pacific |
External Roles
| Organization | Listing | Role | Tenure/Notes |
|---|---|---|---|
| Assa Abloy AB | Nasdaq Stockholm | Board Member | Current |
| Vestas Wind Systems A/S | Nasdaq Copenhagen | Board Member | Current; interlock noted below |
| Investment AB Latour | Nasdaq Stockholm | Board Member | Current |
| Nodica Group AB | — (Private) | Chair of the Board | Current |
| Stena Metall AB | — (Private) | Board Member | Current |
Board Governance
- Committee assignments: Human Resources and Compensation Committee (member). HRCC met 7 times in 2024 and oversees CEO/senior management pay, board/committee compensation, succession, and human capital programs .
- Independence: Board determined all non‑executive nominees, including Ms. Olving, are independent under Nasdaq, DCGC, and NXP Rules of Procedure .
- Attendance and engagement: Board met 8 times in 2024; each director attended at least 75% of board and applicable committee meetings. Ms. Olving attended the 2024 AGM alongside the Chair and CEO .
- Executive sessions: 4 executive sessions of independent directors; committees collectively held 20 sessions in 2024 .
- Board limits and load: NXP policy caps public company board memberships at four in addition to NXP; Ms. Olving holds three other public boards (within limit) .
- Committee structure reference: Audit (9 meetings), HRCC (7), Nominating/Governance/Sustainability (4) .
Fixed Compensation (Non-Employee Director, 2024)
| Component | Amount | Notes |
|---|---|---|
| Annual cash fees (earned) | $108,871 | Includes $100,000 base (effective May 29, 2024) plus $15,000 per committee membership; FX conversion per policy; Ms. Olving is an HRCC member . |
| Committee chair fee | $0 | Not a chair; chair fees are $20,000 (HRCC), $25,000 (Audit), $15,000 (NG&S) effective May 29, 2024 . |
| Meeting fees | $0 | Compensation structured as fixed fees; no meeting fees disclosed . |
Performance Compensation (Non-Employee Director, 2024)
| Grant Date | Award Type | # RSUs | Grant-Date Fair Value ($) | Vesting |
|---|---|---|---|---|
| May 29, 2024 | Annual RSU grant | 822 | 221,915 | Fully vests on earlier of first anniversary or next AGM; forfeiture on termination except death or Board request (accelerated) . |
- Options: No non-employee director held options as of year-end 2024 .
- Performance metrics: No performance-based equity is disclosed for directors; RSUs are time-based awards .
- Clawback/recoupment context: Company maintains a Dodd‑Frank–compliant clawback policy (primarily for executive incentive compensation) and prohibits hedging/pledging by directors and employees (see Risk/Alignment policies) .
Other Directorships & Interlocks
| Entity | Interlock/Conflict Note |
|---|---|
| Vestas Wind Systems A/S | Potential interlock: Karl‑Henrik Sundström (NXPI Audit Chair) is Vice‑Chair of Vestas; both he and Ms. Olving serve on Vestas’ board . |
| Related-party transactions | NXP reported no material director conflicts/related-party transactions in 2024 beyond compensation . |
Expertise & Qualifications
- International experience; executive leadership; industry/technology; strategic planning/M&A; governance/compliance; financial/audit/accounting; manufacturing/operations; risk management; human capital; IT/cybersecurity .
- Recognitions: H.M. The King’s Medal (2018); IVA Gold Medal (2019); Gustaf Dalén Gold Medal (2023) .
Equity Ownership
| Metric | Value |
|---|---|
| Direct beneficial ownership (common shares) | 4,372 |
| Unvested RSUs (as of 12/31/2024) | 822 |
| Options (exercisable/unexercisable) | None |
| Ownership as % of shares outstanding | * (less than 1%) |
| Hedging/Pledging status | Prohibited by company policy; no hedging, pledging, hypothecation, or short selling of NXP securities by directors/employees |
| Director ownership guideline | Must hold ≥5x annual cash fixed fee within 5 years; retain shares from annual grants until met |
Governance Assessment
- Alignment and safeguards: Independent director with HRCC oversight; strong anti‑hedging/pledging policy and director ownership guidelines support alignment with shareholder interests .
- Attendance/engagement: Meets attendance threshold; participated in AGM; Board/committee cadence and executive sessions indicate active oversight .
- Compensation structure: Mix of fixed cash and time-based RSUs; no options; structure avoids excessive or performance‑discretionary elements for directors; chair/member fee adjustments approved May 29, 2024 reflect market benchmarking .
- Conflicts/related parties: No material director conflicts or related‑party transactions disclosed for 2024; board policy requires conflict reporting and recusal .
- Interlock watchpoint: Dual service at Vestas alongside NXPI Audit Chair warrants monitoring for information flow; no related‑party transaction disclosed .
RED FLAGS: None disclosed (no hedging/pledging, no options, no related‑party transactions, independent status affirmed). Monitor interlock at Vestas for potential information-flow considerations; ensure continued compliance with ownership guidelines as they season .