The chipmaker tried a similar move in 2018 but the operating chief selected to become CEO ended up resigning for violating conduct rules.
Texas Instruments on Thursday announced that its CEO for almost 19 years, Rich Templeton, will step down on April 1 as Haviv Ilan, its chief operating officer, replaces him. Templeton will remain the chipmaker’s executive chairman.Texas Instruments stock was flat in extended trading after the disclosure.
The 92-year-old company described the change as a « well-planned succession » in a statement. But Texas Instruments had carried out a similar plan in 2018 that backfired. The company said Templeton would step down to make room for its operating chief at the time, Brian Crutcher, in what it also called a « well-planned succession.
