Texas Instruments' CEO Resigns Over 'Personal Conduct' - NECN
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Texas Instruments' CEO Resigns Over 'Personal Conduct'

Chairman, former CEO assumes CEO role indefinitely

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    Texas Instruments' CEO Resigns Over 'Personal Conduct'
    AP/Texas Instruments
    Brian Crutcher, TI headshot, inset.

    Texas Instruments says CEO Brian Crutcher resigned Tuesday for violating the company's code of conduct related to personal behavior.

    In a post on the Dallas-based company's blog, the company said TI Chairman Rich Templeton has reassumed the roles of president and CEO on an indefinite basis.

    "I want you to know that this is not a temporary appointment, and the board is not searching for a replacement," Templeton said in a statement to employees.

    Crutcher began his tenure as CEO of the tech company on June 1 after being named Templeton's successor on Jan. 18. Crutcher, who was formerly a SVP, EVP and COO, had been with the company for 22 years.

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    In his statement, Templeton said Crutcher's departure was "not related to company strategy, operations or financial reporting" and was due to "personal behavior that is not consistent with our ethics and core values."

    "I recognize that this news is unexpected. I want to reaffirm that our unwavering commitment to conducting business ethically and behaving in a professional manner remains unchanged. When we uncover situations of concern or policy violations, they will be investigated and addressed quickly. This applies to everyone at TI, including top performers, top executives and most importantly to the CEO."

    Further details about Crutcher's departure have not been made public and Crutcher has not issued a statement about his resignation.