Texas Instrument's CEO Steps Aside

Texas Instruments Inc. has announced that long-time CEO Tom Engibous will hand over the chief executive officer's role to Rich Templeton, who has been TI's chief operating officer since 2000.

Templeton, 45, will become the president and CEO effective May 1, while Engibous, who is 50 years old, will retain the position of chairman.

Engibous has been TI's CEO for eight years, and played a key role in taking TI out of the DRAM business and focusing its energies on digital signal processors, analog, and system-on-chip solutions.

Templeton, an engineer who has worked at TI for 23 years, was elected to the board of directors last year. A spokesman noted that Engibous has been the CEO for a relatively long period, adding that the transition has been in the works for the past several months.

TI also is promoting Hans Stork to the chief technology officer role. Stork, who earlier worked in silicon research at IBM Corp., succeeded Yoshio Nishi as senior vice president of silicon technology development in 2002. The CTO title is a new one at TI, the spokesman said.Also, Jean-Francois Fau was named president of TI Europe. He has headed up TI's wireless operations in Europe.

Engibous said Templeton is an "intense competitor" who has a strong sense of ethics and the ability to figure out customers' needs.

"This is an excellent time to transition the jobs of president and CEO to Rich. The company's momentum is building, the management bench is strong, and the balance sheet is healthier than ever," Engibous said.