Fairchild Semiconductor announced that Kirk P. Pond, the company's former CEO and current chairman, would retire from the chairman's post at the company's annual stockholders' meeting on May 3, 2006. Following this the board of directors will select a new chairman. Pond, who led the management buyout of Fairchild from National Semiconductor in 1997, retired as President and CEO last year but remained chairman. Pond will continue as a member of the company's board of directors.