Chipmaker ARM Holdings Plc. (ARMH, ARM.L) Tuesday said its Chief Executive Officer Warren East has decided to retire from the company, effective July 1. Simon Segars, currently President of ARM, will become the new CEO.
East has served nearly twelve years as CEO in his nineteen years at the company. He joined ARM in 1994 to establish the company's consulting business and later became VP of business operations. Within three years, he was appointed to the Board as Chief Operating Officer.
East became ARM's CEO in October 2001. Under his leadership, ARM became a leading designer of semiconductor IP in the world, providing processor technology for nearly all mobile phones and many other consumer and industrial electronic devices.
In 2001, the company had one processor product line found mainly in mobile phones. Now ARM provides the broadest portfolio of technologies in the industry, used by more than 300 semiconductor customers in nearly 9 billion chips. During Warren's tenure the company received royalties for over 40 billion ARM-based chips.
Simon Segars, has been with ARM since 1991 and has held several executive roles including EVP Engineering, EVP Worldwide Sales and EVP Business Development. He has held senior positions for ARM in both the UK and the USA.
Segars, 45, joined the Board in January 2005. He is currently President of ARM and has operational responsibility for the company's IP divisions.
Warren East said, "...ARM is a great company with a strong market position and a unique culture. We take a very long-term view about our business, and we believe that now is the right time to bring in new leadership, to execute on the next phase of growth and to plan even further into the future.''
ARM.L closed down 0.9 percent on Monday to settle at 920.50 pence.
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