Bucy Quits as TI President

Texas Instruments President J. Fred Bucy resigned to “pursue other interests,” the company announced Friday. Bucy, 56, had been seen as a possible successor to Chairman Mark Shepherd Jr., 62.

Directors of the Dallas-based company elected Jerry R. Junkins, 47, to replace Bucy as president and chief executive. Junkins had served as an executive vice president.

Industry observers have speculated that, despite his title of chief executive, Bucy did not have as much control as Shepherd and that some friction might have developed between the two.

In a statement, TI said Bucy had elected to take advantage of the company’s early retirement program. Bucy assumed the chief executive’s title about a year ago.

Daniel Klesken, an analyst with Montgomery Securities in San Francisco, said the announcement came as “somewhat of a surprise,” although there had been speculation about a possible change during TI’s annual meeting in April.

Klesken said it appears that Bucy decided “to let other people carry on after him,” adding, “I think change is a good thing.”

Shepherd said Bucy, a 32-year veteran of TI, will continue as a senior adviser.