Texas_Instruments_Promo
(Image courtesy of Texas Instruments).

Chief Executive of Texas Instruments Forced Out Over Misconduct

Texas Instruments, the world’s largest supplier of analog chips, ousted its chief executive for conduct running afoul of the company’s standards. The company announced on Tuesday that it would replace Brian Crutcher, who only came into the role in June, with the chief executive he replaced, Texas Instruments chairman Rich Templeton.

Texas Instruments said that Crutcher resigned over violations of the company’s code of conduct. But the Dallas, Texas-based company did not say what specifically he had done. The company said that Crutcher’s resignation came after it uncovered “personal behavior that is not consistent with our ethics and core values, but not related to company strategy, operations or financial reporting.”

“For decades, our company’s core values and code of conduct have been foundational to how we operate and behave, and we have no tolerance for violations of our code of conduct,” Mark Blinn, lead director of the company’s board, said in a statement. The company said that Templeton is not a placeholder; the board is not conducting a search for his replacement.

When Crutcher was named chief executive in January, he was clearly meant to preserve the stability of Texas Instruments. Sales of the company’s analog chips have been growing steadily as cars and industrial equipment are equipped with sensors and computer chips to make them smarter and more efficient. Its products are used in tens of thousands of electronics devices.

Crutcher had been with Texas Instruments since 1996. He had been in charge of business operations and global manufacturing since he was promoted to chief operating officer last year. He previously presided over the company’s analog and digital light processing businesses.

Templeton was chief executive of Texas Instruments for 13 years before stepping down in June. The company cut through the sourness of Crutcher’s departure by disclosing its second-quarter revenue ahead of its earnings report next Tuesday. The company said that it earned $4.02 billion in second quarter revenue, nine percent higher than the same quarter last year. Profit was $1.40 per share.

Crutcher is the latest C.E.O. to be ousted from the semiconductor industry over misconduct. Last month, Brian Krzanich stepped down as Intel’s chief executive after the company uncovered that he once had a consensual relationship with another employee, a violation of its non-fraternization policy. He held that position since 2013. That was followed by the firing of Ron Black, chief executive of Rambus.

TAGS: Power
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish