Texas Instruments CEO Brian Crutcher has resigned after assuming the new role six weeks ago as he had violated the chipmaker’s code on personal behaviour, Reuters reported.
Brian Crutcher worked for 22 years at Texas Instruments, holding various positions including executive vice president and chief operating officer.
Chairman Rich Templeton, 59, who served as the company’s CEO from 2004 until Brian Crutcher took over, will re-assume the roles of chief executive officer and president. The chipmaker is not searching for a replacement.
Texas Instruments said Crutcher’s violation was not related to the company’s strategy, operations or financial reporting.
Texas Instruments would not comment beyond its statement. In a video address to employees that was posted on the company’s website, Templeton said the board received a report that led to the resignation.
“If something is reported that does not align with our ethics and values, we respond, and that is exactly what the board did when it received this claim,” Templeton said in the video message. “Each of us has a personal responsibility. This is about both our accountability for how we conduct ourselves, but also, if you see something wrong, say something.”
Intel CEO Brian Krzanich left last month after an investigation found he had a consensual relationship with an employee in breach of company policy.
Texas Instruments reported second-quarter revenue of $4.02 billion, up 9 percent from the same quarter a year ago.