Texas Instruments (NASDAQ:TXN) said late on Thursday that it has appointed CEO and President Haviv Ilan as Chairman of its board of directors.
Texas Instruments shares rose 0.4% in premarket trading.
Ilan will replace Rich Templeton, who will retire at the end of the year after being with Texas Instruments for 45 years. Templeton was TI’s president and CEO from 2004 to June 2018 and July 2018 to 2023. He has been on the board of directors since July 2003.
“On behalf of our entire company, I want to thank Rich for his steadfast dedication and contributions to TI,” said Ilan. “Rich has been instrumental in driving TI’s success, and his leadership will have an enduring impact on our company. He inspired a generation of leaders, and I’m honored to carry his legacy forward as we continue to execute our strategy, strengthen our competitive advantages and generate long-term value.”
