Warren East, the CEO of ARM Holdings Plc, is stepping down from the company. ARM Holdings is a chip-design company that supplies components for Apple’s iPhone and iPad. East has been working as the CEO for around 12 years. East will be stepping down on July 1st, but he plans to continue working in the technology industry.
ARM President Simon Segars will become the CEO of the Cambridge, England based company. Segars has been working at ARM since 1991.
While East was at the helm of the company, he was able to steer the company to pass rivals like Intel and AMD. The company’s shares have been growing for four straight years and has risen 10-fold under his leadership.
?We?ve built a truly world-leading technology company, and it?s turned into a global phenomenon,? said East during a conference call. ?Now is the right time to bring in new leadership to push thinking even further forward.?
ARM’s annual sales expanded to around 577 million pounds last year from 146 million pounds in 2001. The company’s operating profits rose to 263 million pounds from 46 million pounds during the same period.