ARM has announced that it will be saying goodbye to its chief executive officer, Warren East.
East has said he will be retiring from the company after 12 years as reigning CEO, 1 July 2013. His seat will be taken by Simon Segars, currently president of ARM.
East joined ARM in 1994 to establish the company’s consulting business and later became VP of business operations. Within three years he was appointed to the board as Chief Operating Officer and then in 2001 moved to CEO.
Segars joined the ARM board in January 2005, although he's been with the company since 1991 where he has held several executive roles including EVP Engineering as well as EVP Worldwide Sales and EVP Business Development.
East described his time at ARM as a "privilege" and said his replacement was an "excellent" choice.
Segars said he was "honoured" to have been appointed to succeed Warren.
While ARM has its CEO replacement all sewn up, arch rival Intel is still on the hunt since Paul Otellini said he would be retiring in May.
After announcing his retirement in November, Intel named three executive vice presidents, Krzanich, Smith and James, and hinted that one of these could end up taking Otellini's role.
Since then it has thrown a curve ball. In February it was reported that the company had hired Spencer Stuart and Associates to aid it in it quest to find its next CEO, which sources said showed the company was now seeking an external candidate.