Texas Instruments Names Haviv Ilan as New Chief Executive
Texas Instruments Inc.’s leadership transition comes at a challenging time for the chip industry that has gone from a period of shortage to glut.
Photo:
Chris Ratcliffe/Bloomberg News
Texas Instruments Inc.
TXN -1.63%
on Thursday said its board selected
Haviv Ilan
as its next president and chief executive, effective April 1.
The chip maker said Mr. Ilan will succeed
Rich Templeton,
who will transition out of these roles over the next two months after nearly 30 years at a senior level at the company. He will remain chairman.
Mr. Ilan is a 24-year veteran of the company, with stints ranging from senior vice president to chief operating officer as well as an election to the board in 2021.
A returning chief executive at Texas Instruments, Mr. Templeton was first named CEO and president in 2004, serving until June 2018. In July 2018, he returned to the role after
Brian Crutcher
resigned over what the company called code-of-conduct violations.
Mr. Templeton’s 2021 compensation from Texas Instruments was $19.12 million, according to the most recent information available in filings with the U.S. Securities and Exchange Commission.
The transition comes at a challenging time for the chip industry that has gone from a period of shortage to glut. Texas Instruments is due to report quarterly results Tuesday.
In its most recent earnings report, the company issued an outlook that missed Wall Street expectations. Mr. Templeton said the quarter had also been marked by weakness in personal electronics and industrial sectors.
Texas Instruments also is among the chip companies to have committed big investments to scale up production. The company in 2021 said it planned to invest as much as roughly $30 billion in chip-making-related facilities in Sherman, Texas, with production to start around 2025.
Shares were flat in Thursday after-hours trading, sitting at $170.93.
Write to Denny Jacob at [email protected]
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Texas Instruments Inc.’s leadership transition comes at a challenging time for the chip industry that has gone from a period of shortage to glut.
Photo:
Chris Ratcliffe/Bloomberg News
Texas Instruments Inc.
TXN -1.63%
on Thursday said its board selected
Haviv Ilan
as its next president and chief executive, effective April 1.
The chip maker said Mr. Ilan will succeed
Rich Templeton,
who will transition out of these roles over the next two months after nearly 30 years at a senior level at the company. He will remain chairman.
Mr. Ilan is a 24-year veteran of the company, with stints ranging from senior vice president to chief operating officer as well as an election to the board in 2021.
A returning chief executive at Texas Instruments, Mr. Templeton was first named CEO and president in 2004, serving until June 2018. In July 2018, he returned to the role after
Brian Crutcher
resigned over what the company called code-of-conduct violations.
Mr. Templeton’s 2021 compensation from Texas Instruments was $19.12 million, according to the most recent information available in filings with the U.S. Securities and Exchange Commission.
The transition comes at a challenging time for the chip industry that has gone from a period of shortage to glut. Texas Instruments is due to report quarterly results Tuesday.
In its most recent earnings report, the company issued an outlook that missed Wall Street expectations. Mr. Templeton said the quarter had also been marked by weakness in personal electronics and industrial sectors.
Texas Instruments also is among the chip companies to have committed big investments to scale up production. The company in 2021 said it planned to invest as much as roughly $30 billion in chip-making-related facilities in Sherman, Texas, with production to start around 2025.
Shares were flat in Thursday after-hours trading, sitting at $170.93.
Write to Denny Jacob at [email protected]
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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