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ARM president and co-founder Tudor Brown to retire in May

Updated Dec 19th, 2018 7:35PM EST

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ARM president Tudor Brown announced on Thursday that he will not seek re-election during a May 3rd shareholder meeting. ARM does not currently have any plans in place to replace Brown. “[Brown] played an important role in the creation and successful development of ARM over the past 21 years and has made an immense contribution in a wide range of positions,” ARM chairman Doug Dunn said. According to The Wall Street Journal, ARM has shipped more than 15 billion chips “based on ARM-processor technology” since the company was founded in 1990. “[I am] very proud to have been so closely involved in building ARM to be the highly successful and respected company that it is today,” Brown, who helped co-found the company with 11 other founders, said in a statement. “[The company is in a] very strong position and I look forward to watching it grow further in the future.”