After 12 years at the helm of ARM, the UK-headquartered chip designer, Warren East (pictured) is to step down and retire.

Simon Segars, the firm’s president, will step into the chief executive’s role on 30 June.

Under East’s stewardship, ARM has enjoyed remarkable growth. Back in 2001, the number of ARM-designed chips shipped during the year numbered 420 million. By 2012 that figure had soared to 8.7 billion. During East’s tenure, the UK company has received royalties for over 40 billion ARM-based chips.

Long-term shareholders have reaped the benefits. The full-year adjusted EPS (earnings per share) was 3.30p in 2001. Eleven years later and that had risen more than fourfold to 14.73p. Full-year adjusted operating margins went up from 32 per cent to 46 per cent over the same period.

Reuters said that £1.00 ($1.50) invested in the company’s shares ten years ago would now be worth around £18. ARM is valued at nearly £13 billion.

John Buchanan, ARM chairman, was fulsome in his praise of the outgoing chief executive. “Warren has transformed ARM during his time as CEO,” he said. “In 2001 ARM had one processor product line found mainly in mobile phones. ARM now provides the broadest portfolio of technologies in the industry, used by more than 300 semiconductor customers in nearly 9 billion chips last year. As CEO he has created a strong platform for growth and consistently created value for shareholders, even in a challenging external environment.”