Cypress Semiconductor Corp. announced that its CEO, T.J. Rodgers, will step down. In the interim, daily operational activities will be taken over by an Office of the CEO comprised of four current Cypress EVPs: Hassane El-Khoury (EVP, Programmable Systems Division), Dana Nazarian (EVP, Memory Products Division), Joe Rauschmayer (EVP, Manufacturing) and Thad Trent (CFO).

Rodgers will remain on the Cypress Board and become a project leader working on key technical projects.