Analog chip giant Texas Instruments (TXN) this afternoon said it will name corporate controller, Rafael Lizardi, as its new chief financial officer in February, replacing 32-year veteran Kevin March, who has been CFO for thirteen years, and is retiring at age 58.
March will stay on through October of next year to “oversee the transition duties.”
Shares of TI were down a penny in late trading at $70.40.
Lizardi, age 44, joined TI in 2001 after a career as a captain in the U.S. Army Corps of Engineers, the company said.
TI CEO Rich Templeton remarked on Lizardi’s
“discipline” and “integrity,” saying that his “years in finance and
controller positions for our manufacturing and our analog product lines
have enabled him to develop in-depth knowledge of our semiconductor
operations.”
He also thanked March, saying that “customers, shareholders and
employees have all been beneficiaries of Kevin’s disciplined financial
management and his commitment to ensure that owners of TI shares get a
good return on their investment.”
“The company’s financial systems and its balance sheet have never been stronger thanks to his oversight.”
http://blogs.barrons.com/techtraderdaily/2016/12/01/texas-instruments-cfo-march-to-retire-after-13-years-controller-lizardi-next-cfo/
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