Texas Instruments on Thursday appointed its chief operating officer Haviv Ilan to serve as its next CEO starting April 1, replacing long-time top executive Rich Templeton.
Templeton will remain as chairman of the board and has served as CEO for nearly 19 years. The 92-year-old company called the move a “well-planned succession.” Templeton referred to Ilan as an “exceptional leader” and the “right person to serve as TI’s next CEO.”
Ilan joined TI in 1999 when the company acquired Butterly, a wireless startup based in Israel. He holds both bachelor’s and master’s degrees in electrical engineering from Tel Aviv University. He holds an MBA from a joint program between Northwestern University and Tel Aviv University.
Ilan will step into the CEO role at a time of transition for TI and the chip industry at large. The company is building four new chip plants near Dallas valued at $30 billion and has begun making wafers at a new $6 billion fab.
Analysts are expecting TI to post record revenues next week at year-end results, exceeding the posting of $18.3 billion in 2021. The industry has seen chip shortages in late 2020 and more recently a surge in inventories.
The global industry is predicted to see a 4% decline in revenues in 2023 reaching $557 billion, down from $580 billion in 2022, according to the World Semiconductor Trade Statistics organization.
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