ARM chief executive to retire; president to take over July 1

Chip designer ARM's chief executive Warren East will retire later this year after nearly two decades at the company.

East will leave the UK-based company on July 1, the company said today, and will be replaced by the company's president Simon Segars.

Having started at the company in 1994 when he was head of the company's consulting business, working his way up to chief operating officer and then CEO in 2001, East can be attributed with turning the company's fortunes around during his 12-year tenure at the firm's top spot.

Since his tenure as chief executive, ARM is now used by over 300 semiconductor customers making nearly 9 billion chips last year alone. 

ARM's revenue had jumped from £146 million ($220m) in 2001 to £577 million ($872m) in 2012. The company has seen massive employee growth during his time in the chief's seat, with the firm's staff base increasing by more than three-times its original size. 

The company said more than 40 billion ARM-designed chips have been shipped to date, many of which are included in Apple's range of iPhone and iPad products.

"It has been a privilege to lead ARM during such a momentous and exciting time for our industry and I am proud of what the ARM team of employees and partners has achieved together while I have been chief executive," East said.