MarketWatch First Take: The chip industry’s Old Boys Club may be experiencing its #MeToo moment

The chief executives of three semiconductor companies have stepped down in the span of one month, in what appears to be a #MeToo-inspired and long-overdue reckoning for the male-dominated industry.

On Tuesday, Texas Instruments Inc. TXN, -0.26% one of the oldest semiconductor companies in the U.S., said that President and Chief Executive Brian Crutcher resigned because he violated the company’s code of conduct. The company did not disclose any further information. In a video broadcast to employees, Chairman Rich Templeton, who is returning as CEO, said the board had received a complaint that he did not describe.

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