Analog chip giant Texas Instruments (TXN) this afternoon said it will name corporate controller, Rafael Lizardi, as its new chief financial officer in February, replacing 32-year veteran Kevin March, who has been CFO for thirteen years, and is retiring at age 58.

March will stay on through October of next year to “oversee the transition duties.”

Shares of TI were down a penny in late trading at $70.40.

Lizardi, age 44, joined TI in 2001 after a career as a captain in the U.S. Army Corps of Engineers, the company said.

TI CEO Rich Templeton remarked on Lizardi’s “discipline” and “integrity,” saying that his “years in finance and controller positions for our manufacturing and our analog product lines have enabled him to develop in-depth knowledge of our semiconductor operations.”

He also thanked March, saying that “customers, shareholders and employees have all been beneficiaries of Kevin’s disciplined financial management and his commitment to ensure that owners of TI shares get a good return on their investment.”

“The company’s financial systems and its balance sheet have never been stronger thanks to his oversight.”

By: DocMemory
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