Another CEO resigns over misconduct

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Texas Instruments (TI) has announced the resignation of Brian Crutcher as president, CEO and a member of the board of directors. The news comes just two months after he took up the positions.

Crutcher resigned due to "violations of the company's code of conduct" Texas Instruments said in a statement.

His resignation is the latest in a number of high profile resignations from semiconductor companies, due to ‘behavioural impropriety’, and follows resignations at Intel and Rambus.

According to TI the violations are related to "personal behaviour that is not consistent with TI's ethics and core values, but not related to company strategy, operations or financial reporting."

TI chairman Rich Templeton, who stood down as CEO at the end of May 2018, has reassumed the roles of president and CEO on an ongoing indefinite basis and will continue as chairman.

Templeton's appointment is not temporary and the board has said that it will not be searching for a replacement.

"I remain dedicated to moving TI forward with an unwavering commitment to operate ethically and conduct ourselves professionally in everything we do," said Templeton, in the statement.