Richard Templeton on US semiconductor policy
From Texas Instruments Incorporated's TXN CEO Rich Templeton Presents at Citi's 2020 Global Technology Vi · · Daily Earnings Calls
“You know, I think the things that can be best done on that are making sure you're investing in the long-term research and making sure that we have access to great people and then finally make sure you've got, you know, competitive tax structure so you can run manufacturing in the U.S. And you know we've made progress on some of that over the past four years, we've gone backwards on some of it.”
On , Richard Templeton, Executive Chairman at Texas Instruments, spoke about US semiconductor policy during Texas Instruments Incorporated's TXN CEO Rich Templeton Presents at Citi's 2020 Global Technology Vi on Daily Earnings Calls.
About Richard Templeton
Richard Templeton, executive chairman of Texas Instruments, has emphasized the company’s strategy of maintaining internal manufacturing as a competitive advantage, stating that during the COVID-19 pandemic, TI performed better than competitors that were highly outsourced. He noted that in the second quarter of 2020, TI planned to run its factories at levels similar to the first quarter, leading to an inventory increase to support customers with limited forecasting ability. Templeton also discussed capital allocation, advocating for disciplined stock buybacks and dividends, and said that research and development spending would remain unchanged due to its long-term, five-to-ten-year horizon. Templeton has spoken about the importance of U.S. semiconductor industry competitiveness, calling for long-term investment in research, access to skilled talent, and a competitive tax structure. He described the U.S. as needing to be an attractive destination for the world’s best minds and supported policies that encourage R&D and domestic manufacturing investment. On geopolitical tensions, he stated that TI would comply with all laws and rulings, and that companies that adapt best will cope with challenges accordingly. Templeton also reiterated his view that recessions present opportunities to extend competitive advantage through continued investment.