'Transformational' CEO of ARM calls it quits

Warren East, the Chief Executive Officer (CEO) of ARM Holdings, the semiconductor intellectual property (IP) supplier, has decided to call it quits after nearly 12 years as frontman, the company revealed on Tuesday morning.

Warren East, the Chief Executive Officer (CEO) of ARM Holdings, the semiconductor intellectual property (IP) supplier, has decided to call it quits after nearly 12 years as frontman, the company revealed on Tuesday morning.

East, who has been with ARM for 19 years in total, is said to have "transformed" the company since becoming CEO. When he took over in 2001, ARM had only one processor product line found mainly in mobile phones; now it provides a portfolio of technologies used by more than 300 semiconductor customers in nearly nine billion chips (as of last year).

In a statement, Chairman John Buchanan said: "As CEO he has created a strong platform for growth and consistently created value for shareholders even in a challenging external environment. On behalf of the board, and the wider ARM team, deep thanks are due to Warren for his passion, service and leadership."

East said that it had been a privilege to lead ARM "during such a momentous and exciting time for our industry".

He said that "ARM is a great company with a strong market position and a unique culture", but now is the "right time" to bring in a new leader to execute on the next phase of growth.

East is to be replaced by ARM's current President Simon Segars, who has been on the board since 2005, joining the company back in 1991. He is currently responsible for ARM's IP divisions.

"Following an extensive review of candidates worldwide, Simon's proven technology expertise and management skills across a range of senior executive roles make him an excellent CEO candidate and highly qualified to take the company forward," Buchanan said.

Recommended

Should you buy Vodafone shares, or steer clear?
Share tips

Should you buy Vodafone shares, or steer clear?

Vodafone grew revenue by 4% and profit by 11% last year, and offers investors a 6.4% dividend yield. So should you buy Vodafone shares? Rupert Hargrea…
17 May 2022
Melrose Industries: a British manufacturer that is well-placed for recovery
Share tips

Melrose Industries: a British manufacturer that is well-placed for recovery

Melrose, the aerospace and automotive manufacturer, has been hit by the pandemic, but the shares are unduly cheap says David J Stevenson.
17 May 2022
Avoid easyJet shares – there are better airlines to invest in
Share tips

Avoid easyJet shares – there are better airlines to invest in

EasyJet used to be one of Europe’s most impressive airlines. But now it is facing challenges on all fronts and losing out to the competition. Rupert …
16 May 2022
Britain’s ten most-hated shares – w/e 13 May
Stocks and shares

Britain’s ten most-hated shares – w/e 13 May

Rupert Hargreaves looks at Britain's ten-most hated shares, and what short-sellers are looking right now.
16 May 2022

Most Popular

Get set for another debt binge as real interest rates fall
UK Economy

Get set for another debt binge as real interest rates fall

Despite the fuss about rising interest rates, they’re falling in real terms. That will blow up a wild bubble, says Matthew Lynn.
15 May 2022
High inflation will fade – here’s why
Inflation

High inflation will fade – here’s why

Many people expect high inflation to persist for a long time. But that might not be true, says Max King. Inflation may fall faster than expected – and…
13 May 2022
Is the oil market heading for a supply glut?
Oil

Is the oil market heading for a supply glut?

Many people assume that the high oil price is here to stay – and could well go higher. But we’ve been here before, says Max King. History suggests tha…
16 May 2022