Sir Robin Saxby, founding chief executive officer of processor technology licensing company ARM Holdings and currently chairman, is to retire from the board of directors of the company.

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He is to be succeeded by semiconductor industry veteran Doug Dunn.

Saxby is due to retire from the board on Oct. 1, 2006, when he takes up the role of President of the U.K. professional body for engineers, the Institute of Engineering and Technology (IET). Dunn, aged 61, was president and chief executive officer of ASM Lithography until his retirement in December 2004. Prior to that Dunn held senior positions at Philips Electronics including being in charge of the semiconductor division and prior to that was chief executive of GEC Plessey Semiconductors.