Texas Instruments CEO Ouster Gains Chipmaker Unwanted Attention
- Crutcher is third chip-industry leader sacked in two months
- ‘Boards are under a lot of pressure’ to act, analyst says
Texas Instruments Inc.’s ouster of its newly promoted chief executive officer over his personal conduct was a rare foray into the spotlight for one of the most low-key companies in technology, demonstrating the increased scrutiny on leaders in all industries.
The Dallas-based chipmaker, which has focused on the esoteric but profitable world of analog semiconductors, concentrates its communications on areas like cash returns to investors and its capital management strategy. Following the surprise scandal surrounding code-of-conduct violations by Brian Crutcher, who took over June 1, the company’s answer was to go back to what works -- it permanently reinstated his predecessor, Rich Templeton, who held the job for more than 13 years. Shares of Dallas-based Texas Instruments fell less than 1 percent in early trading Wednesday as Templeton’s return assuaged concerns about a disruption to the company’s business.