TEXAS INSTRUMENTS INCORPORATED (NASDAQ:TXN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersITEM 5.02.Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 18, 2018, the Registrant’s Board of Directors appointed Brian T. Crutcher to the position of President and Chief Executive Officer succeeding Richard K. Templeton. The appointment and transition will be effective June 1, 2018. Mr. Templeton will remain Chairman of the Board. Mr. Crutcher, 45, is currently a member of the Board and has served in various leadership positions during his 22-year tenure with the Registrant, including Senior Vice President and his current role as Executive Vice President and Chief Operating Officer. In connection with his appointment, Mr. Crutcher will receive an annual base salary of $1,000,000 beginning June 1, 2018. The remainder of Mr. Crutcher’s compensation remains unchanged.
About TEXAS INSTRUMENTS INCORPORATED (NASDAQ:TXN)
Texas Instruments Incorporated designs, makes and sells semiconductors to electronics designers and manufacturers across the world. The Company operates through two segments: Analog and Embedded Processing. Its Analog segment’s product line includes High Volume Analog & Logic (HVAL), Power Management (Power), High Performance Analog (HPA) and Silicon Valley Analog (SVA). Its Embedded Processing segment’s product line includes Processor, Microcontrollers and Connectivity. It is also engaged in smaller product lines, such as DLP products (primarily used in projectors to create high-definition images), certain custom semiconductors known as application-specific integrated circuits (ASICs) and calculators. The Company has design, manufacturing or sales operations in over 30 countries. It also offers baseband products, and OMAP applications processors and connectivity products, which are sold into smartphones and consumer tablets.
