CORRECTION: Texas Instruments replaces CEO Rich Templeton with current operating chief Haviv Ilan
"Crutcher resigned due to violations of the company's code of conduct," Texas Instruments said at the time. "The violations are related to personal behavior that is not consistent with our ethics and core values, but not related to company strategy, operations or financial reporting."
Under Templeton's leadership, which began May 1, 2004, Texas Instruments stock has grown 581%, outperforming theexchange traded fund, which has risen 549% over the same period. Templeton took on the CEO job from Tom Engibous, who had held the post for nearly eight years. Ilan arrived at Texas Instruments in 1999 by way of the company acquisition of the Israeli wireless startup Butterfly. Before becoming operating chief at Texas Instruments, he had been senior vice president of its analog signal chain and high-performance analog divisions.
Texas Instruments delivered $2.3 billion in net income on $5.24 billion in revenue for the quarter ended Sept. 30, representing about 18% earnings growth and 13% revenue growth. Most revenue stems from sales of analog products, including chips that change signals to data for other chips to crunch. Over one-third of revenue comes from industrial categories such as energy, health care and defense.A previous version of this story spelled the new CEO's name incorrectly in the headline.
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