DALLAS, Jan. 19,
2023 /PRNewswire/ -- Texas Instruments Incorporated
(TI) (Nasdaq: TXN) today said that its board of directors has
selected Haviv Ilan to become the
company's next president and chief executive officer (CEO),
effective April 1. Ilan, a 24-year
veteran of TI, succeeds current CEO and president, Rich Templeton, who will transition out of these
roles over the next two months but will remain the company's
chairman. The transition is a well-planned succession that follows
Ilan's promotion to senior vice president in 2014, executive vice
president and chief operating officer in 2020 and election to the
board of directors in 2021.
"Haviv is an inspiring leader who is widely respected amongst
our customers, employees and shareholders," Templeton said. "He has
a proven track record of delivering results, an intense focus on
innovation and a passion to win, all of which make him an
exceptional leader. The board and I are confident that Haviv is the
right person to serve as TI's next CEO and further strengthen the
company for the long term."
"I am honored to lead TI during this amazing time for our
company and our industry," said Ilan. "The combination of our broad
portfolio of products, strong foundation of manufacturing and
technology, reach of market channels and diverse and long-lived
positions all put TI in a unique class of companies. Our ambitions
and values will continue to be integral to how we build TI stronger
and when we are successful, our employees, customers, communities
and shareholders all benefit."
"The board views succession planning as one of its vital
responsibilities, and today's announcement represents a thoughtful
and well-planned transition. Haviv is well-known to the board, and
is a demonstrated leader with deep business, technical and market
knowledge and has a strong foundation of ethics and values," said
Pam Patsley, lead director of the TI
board and chair of the compensation committee. "TI's strategy,
operations and financial discipline set the company apart from
others in the industry. The company is well-positioned for growth
thanks to Rich's vision and leadership during his 18-year tenure as
CEO. Rich transformed the company by reshaping the focus to analog
and embedded processing, establishing an unparalleled discipline
around capital allocation and growing free cash flow per share by a
factor of more than six. He leaves an incredible legacy at TI and
across the industry, and we look forward to continuing to benefit
from his leadership and insights as executive chairman."
For biographical information, see the following links:
Rich Templeton
Haviv Ilan
About Texas Instruments
Texas Instruments Incorporated (Nasdaq: TXN) is a global
semiconductor company that designs, manufactures, tests and sells
analog and embedded processing chips for markets such as
industrial, automotive, personal electronics, communications
equipment and enterprise systems. Our passion to create a better
world by making electronics more affordable through semiconductors
is alive today, as each generation of innovation builds upon the
last to make our technology smaller, more efficient, more reliable
and more affordable – making it possible for semiconductors to
go into electronics everywhere. We think of this as Engineering
Progress. It's what we do and have been doing for decades. Learn
more at TI.com.
TXN-G
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SOURCE Texas Instruments Incorporated