Texas Instruments changed hands in April: COO llan will take the position of CEO

On January 20, Texas Instruments (TI) announced a new appointment in a statement on Thursday local time. According to the statement, Harvev Ilan, the 54 year old COO (Chief Operating Officer), will take over as CEO on April 1, 2023. At that time, Rich Templeton, who has reached the age of 65, will continue to serve as the chairman of Texas Instruments after stepping down as CEO.

It is worth noting that this resignation from the TI CEO position is not Templeton's first. In 2018, Templeton also stepped down as CEO. At that time, TI's COO, Brian Crutcher, took on the position of CEO. However, Crutcher left the company one month after being elected, and Templeton had to take on the CEO position again.

By 2023, Templeton will step down again, and his successor this time will be CTO Haviv Ilan. Regarding this, foreign media Bloomberg stated that Ilan has been promoted within TI for decades, and TI referred to this process as a "carefully planned succession".

Templeton joined TI in 1990, when he just graduated from New York Union College majoring in electrical engineering; From June 1996 to April 2004, he served as the Executive Vice President of TI and the President of the Semiconductor Business Unit; From April 2000 to April 2004, served as the Chief Operating Officer of TI; In May 2004, he became the President and CEO of TI; In 2008, he served as the chairman of the board of directors. Since July 2003, Templeton has been serving on the company's board of directors.

It is understood that Ilan holds a degree in Electrical Engineering from Tel Aviv University and a Master's degree in Business Administration from Northwestern University in the United States. Ilan joined TI in 1999, was promoted to Senior Vice President of TI in 2014, became Executive Vice President and Chief Operating Officer in 2020, joined TI's Board of Directors in 2021, and was appointed as TI's new CEO in 2023. Previously, he was responsible for two main businesses at TI, simulation and embedded processing.

At the end of October last year, TI announced its financial results for the third quarter of the 2022 fiscal year, and the company also predicted a fourth quarter revenue of $4.4-4.8 billion, which was lower than analysts' expected $4.93 billion. In addition, TI also predicts that the fourth quarter of 2022 earnings per share will be $1.83- $2.11, which is also lower than analysts' expected $2.22.