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TI's Engibous to Transition CEO Role; Will Continue as Chairman

Templeton to Become TI's Next CEO on May 1

Jan 15, 2004

DALLAS - (January 15, 2004) - Texas Instruments (NYSE: TXN) today said that Chief Executive Officer Thomas J. (Tom) Engibous will transition out of the roles of president and CEO over the next four months. He will continue as the company's chairman. The TI Board of Directors has selected Richard K. (Rich) Templeton to become the company's next president and CEO, effective May 1. Templeton currently is chief operating officer and a 23-year veteran of TI. The transition is a planned succession that follows Templeton's selection as chief operating officer in 2000 and his election to the board of directors in 2003.

"This is an excellent time to transition the jobs of president and CEO to Rich. The company's momentum is building, the management bench is strong, and the balance sheet is healthier than ever," Engibous said. "Rich is an exceptional leader of people with strong ethics and keen insight into the needs of our customers. He is an intense competitor with the ability to focus on the right objectives and deliver the right solutions. These traits, combined with the continuity he brings to TI's strategic direction, will take us to the next level.

"TI's Board of Directors has a rigorous succession planning process, and the transition we're announcing today has been several years in the making. As Chairman, I will continue to work for TI's success with an active and independent Board that is committed to serving our shareholders, customers and employees," Engibous said.

Engibous, 50, became president and CEO of the company in June 1996, and was named chairman in 1998. Under his leadership, TI focused and intensified its work in semiconductors that enable signals such as sound to be electronically processed in real-time. Known as digital signal processors and analog semiconductors, these chips are the core of today's fastest-growing electronics equipment, including wireless cell phones, digital cameras and music players, digital television, and WiFi.

"Over the last eight years, Tom and his team have executed what is among the best transformations in corporate history," said Dan Carp, member of TI's Board of Directors and chairman of the Board's Governance & Nominating Committee. "Tom repositioned TI as the leader in semiconductor signal processing, and as a result, the company's value has increased by a factor of five. TI is a far stronger company because of his leadership. At the same time, I couldn't feel better about our new CEO. Tom and Rich have worked side by side for more than a decade to re-shape TI, and the Board has great confidence that Rich will continue to make TI stronger."

Templeton noted, "This is an exciting time to lead TI. We are in the early stages of an explosion in new functionality that semiconductors and software are bringing to electronics equipment. We can take more advantage of this than many, thanks to the passion for winning that Tom reignited at TI and the way he's challenged us to put the customer at the center of our thinking. I look forward to exciting years of innovation and growth."

Templeton, 45, was raised in upstate New York. He attended Union College, graduating in 1980 with a bachelor's of science degree in electrical engineering. Templeton joined TI the same year and steadily moved through the ranks, first in sales and marketing, then as leader of several semiconductor business units, including digital signal processing. He was named president of TI's Semiconductor Group in 1996.

 

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Texas Instruments Incorporated provides innovative DSP and analog technologies to meet our customers' real world signal processing requirements. In addition to Semiconductor, the company's businesses include Sensors & Controls, and Education Technology. TI is headquartered in Dallas, Texas, and has manufacturing, design or sales operations in more than 25 countries.

 

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