Stryker CEO to join TI Board of Directors

DALLAS — Texas Instruments (TI) (NYSE:TXN) has announced that Stephen MacMillan, president and chief executive officer of Stryker Corp., has been elected to TI's board of directors, effective in September.

"Steve is a welcome addition to our board," said Rich Templeton, TI's chairman, president and CEO. "He has led businesses to dramatic growth in highly competitive markets, and he understands how advancements in innovation can improve people's lives. Steve's marketing insights and global experience will make him a real asset to the board."

MacMillan, 44, has nearly 20 years of experience in the medical industry. In 2003, he joined Stryker, one of the world's largest medical device companies, as president and chief operating officer; two years later he assumed the role of CEO. From 1999 to 2003, he served as sector vice president of global specialty operations of Pharmacia Corp. Prior to that, he spent 11 years at Johnson & Johnson, where he held various management positions in both the United States and Europe, including president of Johnson & Johnson-Merck Consumer Pharmaceuticals.

"As an active CEO of a company that, like TI, makes significant investments in people, R&D and capital to grow the business, Steve will bring a very knowledgeable perspective to the board's strategic deliberations," said Ruth Simmons, chair of the board's governance and shareholder relations committee.

Source: Texas Instruments