Haviv Ilan. Photo courtesy of Texas Instruments

Texas Instruments is turning over leadership to a new president and CEO after 19 years.

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The announcement was made Thursday that COO Haviv Ilan will succeed the current president and CEO, Rich Templeton. Ilan’s position will be effective starting April 1 and Templeton will still serve as Texas Instruments Chairman of the Board.

The two will work on the transition of duties over the next few months.

Ilan has worked in several senior management positions at the company over the past 24 years, including roles as senior vice president, executive vice president and chief operating officer.

“I am honored to lead TI during this amazing time for our company and our industry,” Ilan said in the company blog post. “The combination of our broad portfolio of products, strong foundation of manufacturing and technology, reach of market channels and diverse and long-lived positions all put TI in a unique class of companies.”

If you haven’t already learned the neighborhood history (and future) behind Texas Instruments, here’s a refresher from June 2017.