Vedanta picks David Reed as CEO of its Gujarat semiconductor business

Vedanta Ltd on Monday announced the appointment of David Reed as the Chief Executive Officer (CEO) of its semiconductor business. He will be responsible for setting up a semiconductor fab unit in India, a report in the Economic Times (ET) said. The unit will also carry out assembly and testing of the chips. 

Before this, Reed was at NXP Semiconductors and GlobalFoundries as executive vice president and general manager of global operations. 

In 2015, Reed moved to NXP as a part of the company's merger with American Freescale Semiconductor. He served as the vice president and general manager of GlobalFoundries before that. 

Reed began his career at Texas Instruments in 1984, where he served for 26 years.

"This venture is a watershed development for the global semiconductor industry, and I am excited to be part of it," said Reed in a statement.

Vedanta said that Reed's 35 years of international experience includes the establishment of a complete semiconductor ecosystem with global execution of wafer fabrication, research and development, assembly and testing, total quality management and packaging, and supply chain management.

Anil Agarwal-led Vedanta had 2022 announced a $20-billion semiconductor joint venture with Taiwan's Foxconn in Gujarat.

From $15 billion in 2020, India's semiconductor market is estimated to reach $63 billion by 2026. Most of the world's chip output is limited to a few countries like Taiwan, South Korea and the US.