Rich Templeton has retaken the helm at Dallas-based Texas Instruments Tuesday after the company announced the resignation of Brian Crutcher as president, CEO, and board member.
Templeton’s role as president and CEO is a permanent appointment, the company said in a release Tuesday.
TI said that Crutcher resigned because of violations of the company’s code of conduct related to personal behavior “that are not consisent with our ethics and core values, but not related to company strategy, operations, and financial reporting.”
Crutcher was named president and CEO on June 1.
“I have tremendous pride in this company, and passion for continuing to make TI even stronger and better.”
“For decades, our company’s core values and code of conduct have been foundational to how we operate and behave, and we have no tolerance for violations of our code of conduct,” Mark Blinn, lead director of the TI Board, said in the release. “Over the past 14 years, Rich has successfully led TI to become the company it is today, and we have great confidence in his values and ability to continue to lead this company forward.”
Templeton, who has been chairman of the board, said he was looking ahead to building on the semiconductor company’s success.
“I have tremendous pride in this company, and passion for continuing to make TI even stronger and better,” Templeton said in the release. “I remain dedicated to moving TI forward with an unwavering commitment to operate ethically and conduct ourselves professionally in everything we do.”
At the same time it announced the leadership change, TI said it had second-quarter revenue of $4.02 billion, up 9 percent from the same quarter a year ago.
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