Warren East, the Chief Executive Officer (CEO) of ARM Holdings, the semiconductor intellectual property (IP) supplier, has decided to call it quits after nearly 12 years as frontman, the company revealed on Tuesday morning.

East, who has been with ARM for 19 years in total, is said to have "transformed" the company since becoming CEO. When he took over in 2001, ARM had only one processor product line found mainly in mobile phones; now it provides a portfolio of technologies used by more than 300 semiconductor customers in nearly nine billion chips (as of last year).

In a statement, Chairman John Buchanan said: "As CEO he has created a strong platform for growth and consistently created value for shareholders even in a challenging external environment. On behalf of the board, and the wider ARM team, deep thanks are due to Warren for his passion, service and leadership."

East said that it had been a privilege to lead ARM "during such a momentous and exciting time for our industry".

He said that "ARM is a great company with a strong market position and a unique culture", but now is the "right time" to bring in a new leader to execute on the next phase of growth.

East is to be replaced by ARM's current President Simon Segars, who has been on the board since 2005, joining the company back in 1991. He is currently responsible for ARM's IP divisions.

"Following an extensive review of candidates worldwide, Simon's proven technology expertise and management skills across a range of senior executive roles make him an excellent CEO candidate and highly qualified to take the company forward," Buchanan said.

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