Microchip group ARM Holdings has announced that Sir John Buchanan, currently the Chairman of FTSE 100 medical devices firm Smith & Nephew is to take over as Chairman of the board from May 3rd onwards.
Buchanan - who is also the Deputy Chairman of Vodafone, Senior Independent Director of BHP Billiton and Chairman of the International Chamber of Commerce - is to replace the current Chairman Doug Dunn, who announced his resignation back in May 2011.
"I am delighted to welcome John to the ARM Board as Doug's successor and look forward to working closely with him," said ARM's Chief Executive Officer Warren East.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"He has a wealth of international business experience gained through his executive and non-executive roles with a number of leading FTSE 100 companies."
The stock reacted well to the news, with shares trading 1.28% higher at 592p by 13:25.
BC
-
Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
-
Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
