On July 17, Texas Instruments (TI) announced that Brian Crutcher will resign as president, CEO and TI board member. From his appointment in January to the present, only half a year. The Board of Directors has appointed Rich Templeton as Chairman of the Board and will continue to serve as President and CEO indefinitely. The board said that Templeton's appointment was not temporary and would not find a replacement.
According to Texas Instruments, Crutcher resigned due to a violation of the company's code of conduct. Violations are related to personal behavior, inconsistent with Texas Instruments' ethics and core values, and not related to corporate strategy, operations or financial reporting.
"For decades, our company's core values and codes of conduct have been the foundation of our operations and behavior, and we do not tolerate violations of our Code of Conduct," said TI Chairman Mark Blinn. “In the past 14 years, Rich has successfully led TI to become today's company, and we are confident in his values and the ability to continue to lead the company.”
Rich Templeton, Chairman, CEO of TI, said: "I am very proud of this company and continue to make TI stronger and more enthusiastic. I am always committed to driving TI forward, firm Unwaveringly committed to operating in an ethical manner and acting in a professional manner in everything we do."