Texas Instruments (TI), a technology company from America, recently announced that Brian Crutcher, CEO of the company, has resigned from his post. Reportedly, the reason behind this resignation is said to the violation of the code of conduct of the company that was related to the personal behavior.
However, the company spokesman refused to explain the nature of the violation and if it was related to a personal relationship or any other issue. Crutcher had served the company for more than two decades before taking up the responsibility of a CEO.
The company also announced that Richard Templeton, Chairman of the company, will take charge of the president and CEO positions. Also, TI explained that the recent appointment of Templeton is not a temporary one, and the board is not in search of the replacement. As per the recent reports, TI faced a 2% fall in shares after-hours trade on Tuesday. In this year, the stock had successfully climbed more than 10% so far.
On a similar note, earlier last month, TI had partnered with the Department of Science and Technology and announced that the partnership will be introducing DST–TI India Innovation Challenge Design Contest (IICDC). This contest was intended for the engineering students.
As per the contest, the winning teams were supposed to get a fund of about Rs 8.2 Crore from Texas Instruments and DST. The company also proclaimed that Indian engineering students will be offered with an opportunity to grab more than 15,000 certificates during different stages of the contest.
Texas Instruments had proclaimed that the registrations were opened on June 20, 2018. The company also stated that the registration is open till August 31, 2018. It also introduced a committed TI-IICDC page on MyGov portal.