Haviv Ilan to become next president and CEO of Texas Instruments on April 1

Texas Instruments (TXN) announced the appointment of Haviv Ilan as the new CEO, effective April 1, 2023.

Rhea-AI Summary

Texas Instruments (TXN) announced the appointment of Haviv Ilan as the new CEO, effective April 1, 2023. Ilan, a veteran with 24 years at TI, succeeds Rich Templeton, who will remain as chairman. The transition is a carefully planned succession, reflecting confidence in Ilan's leadership and experience. Templeton praised Ilan for his results-driven approach and commitment to innovation. Under Templeton’s leadership, TI focused on analog and embedded processing, significantly increasing free cash flow per share by over six times. The board emphasizes the importance of succession planning in maintaining TI’s growth trajectory.

Positive

• Haviv Ilan's promotion indicates a strong internal leadership pipeline.
• Rich Templeton's tenure saw free cash flow per share increase by a factor of more than six.

Negative

• None.

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DALLAS, Jan. 19, 2023 /PRNewswire/ -- Texas Instruments Incorporated (TI) (Nasdaq: TXN) today said that its board of directors has selected Haviv Ilan to become the company's next president and chief executive officer (CEO), effective April 1. Ilan, a 24-year veteran of TI, succeeds current CEO and president, Rich Templeton, who will transition out of these roles over the next two months but will remain the company's chairman. 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 election to the board of directors in 2021.

"Haviv is an inspiring leader who is widely respected amongst our customers, employees and shareholders," Templeton said. "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."

"I am honored to lead TI during this amazing time for our company and our industry," said Ilan. "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."

"The board views succession planning as one of its vital responsibilities, and 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," said Pam Patsley, lead director of the TI board and chair of the compensation committee. "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."

For biographical information, see the following links:

Rich Templeton
Haviv Ilan

About Texas Instruments

Texas Instruments Incorporated (Nasdaq: TXN) is a global semiconductor company that designs, manufactures, tests and sells analog and embedded processing chips for markets such as industrial, automotive, personal electronics, communications equipment and enterprise systems. Our passion to create a better world by making electronics more affordable through semiconductors is alive today, as each generation of innovation builds upon the last to make our technology smaller, more efficient, more reliable and more affordable – making it possible for semiconductors to go into electronics everywhere. We think of this as Engineering Progress. It's what we do and have been doing for decades. Learn more at TI.com.

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SOURCE Texas Instruments Incorporated

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Who is the new CEO of Texas Instruments (TXN)?

Haviv Ilan has been appointed as the new CEO of Texas Instruments, effective April 1, 2023.

When will Haviv Ilan take over as CEO of Texas Instruments (TXN)?

Haviv Ilan will officially become CEO on April 1, 2023.

What is Rich Templeton's role after stepping down as CEO of Texas Instruments (TXN)?

Rich Templeton will continue to serve as the chairman of the board after transitioning out of the CEO role.

How long has Haviv Ilan worked at Texas Instruments (TXN)?

Haviv Ilan has been with Texas Instruments for 24 years.