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Brian Crutcher resigned as TI's CEO
Brian Crutcher has resigned as president, CEO and a member of the TI board. The board has named Rich Templeton, the company's chairman, to reassume the roles of president and CEO on an ongoing, indefinite basis, in addition to continuing as chairman.
Templeton's appointment is not temporary, and the board is not searching for a replacement.
Crutcher resigned due to violations of the company's code of conduct. "The violations are related to personal behaviour that is not consistent with our ethics and core values, but not related to company strategy, operations or financial reporting", a press release states.
"For decades, our company's core values and code of conduct have been foundational to how we operate and behave, and we have no tolerance for violations of our code of conduct," said Mark Blinn, lead director of the TI Board. "Over the past 14 years, Rich has successfully led TI to become the company it is today, and we have great confidence in his values and ability to continue to lead this company forward."