ARM CEO Warren East steps down
ARM president Simon Segars will step into the CEO role in July
Warren East has stepped down as CEO of ARM, after leading the firm to success in the mobile world.
East has led the British chip designer for 12 years, after joining ARM 19 years ago. He will retire on 1 July, with company president Simon Segars stepping into his vacated role.
East said he was "proud" of what ARM had achieved under his watch, but added it was best for him to depart with the company in a strong position.
"We take a very long-term view about our business, and we believe that now is the right time to bring in new leadership, to execute on the next phase of growth and to plan even further into the future," East said, saying Segars was an "excellent" successor.
We take a very long-term view about our business, and we believe that now is the right time to bring in new leadership
John Buchanan, ARM's chairman, described the changes at the company over the past decade, saying ARM had a single processor product line in 2001, but now offers "the broadest portfolio of technologies in the industry". ARM's chip designs dominate the tablet and smartphone space, with even Microsoft now supporting ARM processors with Windows RT.
For the full year 2001, ARM posted revenue of £146 million and profit of £50 million; in 2013, it posted revenue of £913 million and profit of £276.5 million.
In the final quarter of 2001, ARM said 420 million chips based on its designs had shipped; in 2013, that had climbed to 2.5 billion.
"During Warren’s tenure the company has received royalties for over 40 billion ARM-based chips," said Buchanan. "As CEO he has created a strong platform for growth and consistently created value for shareholders even in a challenging external environment."
East started at the firm in 1994, joining the board as COO within three years. Segars has worked for ARM since 1991, and previously run the engineering and IP departments.
East's resignation comes at an intriguing time, with Intel due to announce a successor to its outgoing CEO Paul Otellini.