updated 06:36 am EDT, Tue March 19, 2013
Retirement of CEO follows 19 years at company, 12 as CEO
The Chief Executive Officer of ARM will be stepping down from his position in the company on the first of July, in order to enter retirement. Warren East will relinquish his role after 19 years at the company, nearly twelve of those as CEO, and is set to be replaced by the current President of ARM, Simon Segars.
East joined ARM in 1994 to create the company's consulting business, shortly became VP of business operations, and within three years was appointed to the Board as COO before becoming CEO in October 2001. Since then, ARM has expanded from offering one product to collecting royalties from more than 300 semiconductor customers for over 40 billion ARM-based processors. "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 down the line,""said East in a statement, before praising Segars, his successor.
In contrast to the operations-based East, Segars has a background in hardware. Joining Arm in 1991, Segars has worked a number of roles within the company, including a time when he was the EVP of Engineering, working on early ARM processors.
In the most recent company results, ARM was found to have earned $436.4 million in profit from a full years revenues of $913.1 million, a year-on-year improvement for revenues of 16 percent.