Wednesday, July 18th 2018
Code of Conduct: Texas Instruments CEO Brian Crutcher Resigns
Texas Instruments today announced the resignation of Brian Crutcher as president, CEO and a member of the TI board. The board has named Rich Templeton, the company's chairman, to reassume the roles of president and CEO on an ongoing, indefinite basis, in addition to continuing as chairman. Templeton's appointment is not temporary, and the board is not searching for a replacement.
Crutcher resigned due to violations of the company's code of conduct. The violations are related to personal behavior that is not consistent with our ethics and core values, but not related to company strategy, operations or financial reporting."For decades, our company's core values and code of conduct have been foundational to how we operate and behave, and we have no tolerance for violations of our code of conduct," said Mark Blinn, lead director of the TI Board. "Over the past 14 years, Rich has successfully led TI to become the company it is today, and we have great confidence in his values and ability to continue to lead this company forward."
"I have tremendous pride in this company, and passion for continuing to make TI even stronger and better," said Rich Templeton, TI chairman, president and CEO. "I remain dedicated to moving TI forward with an unwavering commitment to operate ethically and conduct ourselves professionally in everything we do."
TI also reported second-quarter revenue of $4.02 billion, up 9 percent from the same quarter a year ago, and earnings per share of $1.40. EPS included a 3 cent discrete tax benefit not in the company's original guidance. TI will provide full second-quarter results and third-quarter guidance in its earnings release and conference call on July 24.
Crutcher resigned due to violations of the company's code of conduct. The violations are related to personal behavior that is not consistent with our ethics and core values, but not related to company strategy, operations or financial reporting."For decades, our company's core values and code of conduct have been foundational to how we operate and behave, and we have no tolerance for violations of our code of conduct," said Mark Blinn, lead director of the TI Board. "Over the past 14 years, Rich has successfully led TI to become the company it is today, and we have great confidence in his values and ability to continue to lead this company forward."
"I have tremendous pride in this company, and passion for continuing to make TI even stronger and better," said Rich Templeton, TI chairman, president and CEO. "I remain dedicated to moving TI forward with an unwavering commitment to operate ethically and conduct ourselves professionally in everything we do."
TI also reported second-quarter revenue of $4.02 billion, up 9 percent from the same quarter a year ago, and earnings per share of $1.40. EPS included a 3 cent discrete tax benefit not in the company's original guidance. TI will provide full second-quarter results and third-quarter guidance in its earnings release and conference call on July 24.
32 Comments on Code of Conduct: Texas Instruments CEO Brian Crutcher Resigns
1st Intel now this...
"rEmEmBer"
ps....if you dont recognize these 2 quotes, then perhaps you should look them up :)
Anyway how did it even got to this discussion ?
Some people may be surprised to hear this but I'm not a fan of the hand-wringing liberal scene where everybody must be a saint. When you go too far left OR right - things get really silly.
Then again - he may have done something really bad!
After all, any connection between testosterone levels and behavior in humans is (from all actual research) yet to be found outside of statistical variance and the myriad other factors affecting our behaviors. Then there's the idea that being rich somehow increases your testosterone levels? Yeah, sure, that makes sense. That's logic on the level of the South Park bit where the cure for AIDS was shown to be inhaling pulverized dollar bills. At least that was funny.
Then there's the entirely arbitrary and meaningless category of "alpha" which is not only a term cribbed from a faulty and disproven hypothesis (debunked by its own author, no less! There are no "alphas" in wolf packs.), but also seems to mean nothing other than "successful" in whatever category that currently matters to the people using the term (while implying that success is somehow universal, if you're successful in a one or a few key fields, you're successful at everything - which is incredibly easy to disprove).
Oh, and then there's the incredibly offensive idea that men are slaves to their biological drives and can't be held accountable for their actions due to this. Not only is this idea incredibly belittling to every single man on the planet, but it's also blatantly obviously designed to make people feel good about themselves and buy into this bull. "No, it's not your fault people don't like you/you're not successful/you're not rich/you can't maintain a relationship, it's because of BIOLOGY. See, I used a sciencey word, so now you don't have to make even the slightest effort at changing this. But hey, I have some testosterone supplements to sell you!"
/rant
More on topic, I'm glad to see that people in power are held at least somewhat accountable for their actions, even if this keeps taking minor, personalized (as opposed to cultural/systematic) forms. CEOs and corporate leaders keep lying, cheating and stealing. But at least now it's slightly less easy for them to rape and harass subordinates. That's something.
Also... Am I the only one creeped out by the way these people talk? What kind of bullshit way to form a sentence is that? They're like walking resumes. Life is their resume. And so everything they say has to sound good on resumes or during briefings. I understand that it's a very serious situation, but you are conveying information to human beings. Like, regular people are reading these statements, man. When someone is talking to me like we are in a formal meeting or a job interview, I tend not to trust them. Clunky, generic, sound's-good statements likes this are the reason nobody like politicians. Nice sounding, perfectly-constructed statements that indicate absolutely nothing of value or real promise.
I dunno... maybe I'm the weird one here. I just get this "Just smile and tell them what you think they want to hear." vibe. Nobody cares about that, Rich.
I do wonder what actually happened. Not breaking out the tinfoil. Just observing as a CEO steps down for unstated reasons and looking at the one stepping up as both chairmain and defacto indefinite CEO, wondering what he really thinks about the situation. When they don't say, you gotta wonder what it is they aren't saying, you know? What is it man? Just acknowledge it already. Stuff like this happens all of the time and there usually aren't a lot of details, but what specifically the person did is at least stated. And even if not, it tends to come out anyway. It's weird.
But no doubt you're right about being affected by working in a US Prison having a lot to do with this. Being exposed to that ideology while spending 8 hours a day watching people run around in a hypermasculinized ultraviolent power struggle completely out of control would probably change one's behaviour quite significantly. Yet another reason for comprehensive reform of the US correctional system, I suppose. Completely agree that the way they talk (write?) is completely creepy and unnatural, but remember, their audience is mainly investors and financial analysts, not normal people. Investors and financial analysts seem to be among the most easily scared creatures on the planet, running away screaming at even the slightest sign of danger to their money (if they had spirit animals, I'd imagine them as some sort of small, shivering rodent, sniffing the air and always on the verge of running away). As such, these statements are made to a) include as little emotion and humanity as possible, b) SHOUT that "we are maintaining the status quo, please don't run away", and c) hide any and all wrongdoing (whether ethical or legal) behind as much "our company is very successful and growing!" rhetoric as possible, as finances always beat out ethics or legality for the intended audience.