Texas Instruments, the Dallas-based semiconductor giant, announced that Haviv Ilan will become the company’s new president and chief executive officer, effective April 1.

Current president and CEO Rich Templeton will remain with TI as its chairman, the company said.

“Haviv is an inspiring leader who is widely respected amongst our customers, employees and shareholders,” Templeton said in a statement. “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.”

A well-planned succession

TI said 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 his election to the board of directors in 2021.

“I am honored to lead TI during this amazing time for our company and our industry,” Ilan said in a statement. “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.”

Pam Patsley, lead director of the TI board and chair of the compensation committee, said that the board has viewed succession planning as one of its vital responsibilities.

“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,” Patsley said in a statement. “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.”

Templeton remains as chairman

Rich Templeton [Photo: Texas Instruments]

Templeton became chairman of the board in April 2008, and president and chief executive officer in May 2004. He has served on TI’s board of directors since July 2003.

From April 2000 through April 2004, he was chief operating officer and was executive vice president and president of TI’s semiconductor business from June 1996 through April 2004.

A member of the board, Ilan is executive vice president and chief operating officer of Texas Instruments responsible for leading the company’s business and sales organizations, technology and manufacturing operations, and information technology services.

Previously, Ilan was the senior vice president of TI’s Analog Signal Chain business and he has held a number of leadership roles including senior vice president of TI’s High Performance Analog business and vice president in TI’s Embedded Processing business, leading the wireless connectivity organization.

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