- After about 14 years in the position
- Accolades and praise for Templeton
- Templeton will remain as chairman at Texas Instruments
- Templeton said 47 words
(exechange) — Dallas, Texas, January 18, 2018 — Rich Templeton, chief executive of Texas Instruments, hands over the reins. As announced by Texas Instruments Incorporated in a news release on Thursday, January 18, 2018, Richard K. (Rich) Templeton leaves his post as chief executive officer at the semiconductor company after about 14 years in the position, effective June 1, 2018.
It is the end of an era.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past twelve months was 9.1 years, according to data compiled by exechange. Only 36 percent of the CEOs who departed over the past twelve months left the position after more than ten years.
Templeton’s duties will be taken over by Brian Crutcher, currently chief operating officer at Texas Instruments Incorporated.
“A well-planned succession”
Templeton’s departure from the CEO post is explained as follows. Texas Instruments said: “The transition is a well-planned succession that follows Crutcher’s promotion to senior vice president in 2010, executive vice president in 2014, chief operating officer in 2017 and election to the board of directors last July.”
Templeton will remain as chairman at Texas Instruments
“Crutcher, a 22-year veteran of TI, succeeds current president and CEO, Rich Templeton, who will transition out of these roles over the next four months but will remain the company’s chairman,” Texas Instruments said.
Share price rise since December 2008
The change follows a rise in the share price of Texas Instruments Incorporated since December 2008.
In the position of CEO since 2004
Rich Templeton is chairman, president and chief executive officer of Texas Instruments.
He became chairman of the board in April 2008, and president and chief executive officer in May 2004.
He has served on the company’s board of directors since July 2003.
From April 2000 through April 2004, Templeton was chief operating officer of TI.
He was executive vice president of the company and president of TI’s Semiconductor business from June 1996 through April 2004.
In these roles, Templeton is credited with helping to define and execute TI’s strategy to focus on semiconductors for signal processing.
Operationally, he guided the company during this transformation.
Templeton joined the company in 1980 after earning a Bachelor of Science in electrical engineering from Union College in New York.
He spent his operational career in the company’s Semiconductor business, beginning in sales and eventually becoming president of the entire business.
He has been among the top-ranked CEOs in Institutional Investor’s Best Semiconductor CEOs in America for several years.
Templeton currently serves on the board of the Semiconductor Industry Association, and the board of trustees of Southern Methodist University and Southwestern Medical Foundation.
He is also a member of the Business Roundtable.
Read the full story in the exechange report 4.2018 ($).