Texas Instruments Inc’s chairman James Adams has decided to call it a day and will retire form his position at the semiconductor firm in April. Adams will be succeeded by Thomas Engibous, the company’s current president and chief executive officer. Adams and Engibous were appointed to their current respective roles when former chairman Jerry Junkins died suddenly in 1996 (CI No 2,940). Adams is a former group president of SBC Communications Inc. and has been on the Texas board since January 1989. He will remain director of Texas Instruments and continue to serve on various board committees. Adams has seen a great deal of change at the Dallas company in the past two years, overseeing the sale of its defense arm to Raytheon Co for $2,950m (CI No 3,072), its notebook computer business (CI No 2,662) and its toy division. Adams said in a statement that he now believes it is time to hand over the reigns to Engibous, as the company is perfectly positioned for its transition phase.
