Why did ARM boss step down?

22 March 2013 Last updated at 07:09 ET Help

ARM is the world's largest microchip designer, and has its products in every iPad and iPhone.

The firm started from Cambridge University and now employs 2,300 people with a turnover forecast to hit $1.03bn this year.

On Tuesday its chief executive Warren East announced he was stepping down, sending the share price tumbling by 2.6%.

Speaking to Today business presenter Dominic Laurie, Mr East said that it was "a very difficult decision".

He explained that the company has "very long planning cycles" and it would be "unhealthy for the company" if he was at the head of ARM for too long.

First broadcast on BBC Radio 4's Today programme on Friday 22 March 2013.

BBC © 2013 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.