Texas Instruments Appoints Company Veteran Haviv Ilan As New CEO; Rich Templeton Will Continue As Chair

Texas Instruments Inc TXN named Haviv Ilan as the CEO, effective April 1.
Ilan, a 24-year veteran of TI, succeeds current CEO 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 COO in 2020, and election to the board of directors in 2021.
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Templeton became chairman of the board in April 2008 and president and CEO in May 2004.
In July 2018, Templeton returned to the role as Brian Crutcher resigned over what the company called code-of-conduct violations.
In its most recent earnings report, TXN issued an outlook that missed Wall Street expectations. The company said it experienced expected weakness in personal electronics and expanding weakness across industrial.
In 2021, TXN shared plans to invest up to $30 billion in chip-making-related facilities in Sherman, Texas, with production to begin around 2025.
Price Action: TXN shares closed lower by 1.63% at $170.93 on Thursday.
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