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Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →Maxim Integrated Products announced on December 20, 2006, that founder John “Jack” Gifford was retiring as chairman and CEO for health reasons. Tunç Doluca became president and CEO on January 1, 2007. Gifford initially stayed on part time as a strategic adviser; the announcement came while Maxim faced a separate inquiry into stock-option practices, but available records do not establish that the inquiry caused his departure.
What happened in the December 2006 transition?
Gifford, then 65, said he was retiring on his doctor’s advice. He stepped down as Maxim’s CEO and chairman, and relinquished his board seat in connection with the transition. The company appointed longtime executive Tunç Doluca president and CEO effective January 1, 2007. B. Kipling “Kip” Hagopian, an independent director, became interim chairman while the board expected to search for a permanent chair. EDN’s December 20, 2006 report covered the announcement; Maxim’s contemporaneous filing records Doluca’s appointment and Hagopian’s interim role. SEC-filed announcement
This is a historical transition, not a 2026 CEO change. A modern archive or search result may display a 2026 date, but the event occurred in December 2006.
How the succession unfolded
- December 8, 2006: Gifford told Doluca he was seriously considering retirement based on medical advice and disability.
- December 15, 2006: Gifford notified the board that he proposed voluntary retirement.
- December 20, 2006: Maxim publicly announced the transition.
- December 31, 2006: The later-filed memorandum described this as the proposed effective date of Gifford’s voluntary retirement.
- January 1, 2007: Doluca became president and CEO and joined Maxim’s board.
- January 26, 2007: Gifford retired from his strategic-adviser role, according to a subsequent SEC filing.
- January 31, 2007: Maxim announced results of its special committee’s review of stock-option grants and practices.
The dates refer to different parts of the transition: public announcement, proposed retirement, CEO succession, and the end of Gifford’s advisory role. The medical-advice details appear in an SEC-filed memorandum. SEC-filed memorandum The advisory-retirement date and committee-review context are in a later filing. SEC filing
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Who was Jack Gifford?
Gifford founded Maxim Integrated Products in 1983 and served as its chairman, president, and CEO. Before Maxim, his semiconductor career included work associated with Fairchild Semiconductor, Advanced Micro Devices, and Intersil. Maxim’s announcement described him as a major figure in analog integrated-circuit development; that characterization was the company’s, rather than an independent assessment.
Why was Tunç Doluca chosen?
Doluca had joined Maxim in 1984 and had served as a group president since May 2005. Maxim said he had been groomed for the CEO role over the preceding two years. He became a director alongside his January 1, 2007 appointment as president and CEO. A later Maxim filing identifies his CEO tenure as running from January 2007 until the company’s acquisition by Analog Devices. Maxim 2021 filing
How the stock-option inquiry fits—and what it does not prove
Maxim’s leadership transition coincided with an informal SEC inquiry into stock-option grants and practices, reports alleging that some grants may have been backdated, and shareholder litigation. The company said it had complied with applicable laws. A special committee later investigated certain grants and practices, including allegations involving officer grants from the mid-1990s through 2002. These were contemporaneous corporate issues, but the available records do not establish that the inquiry or litigation caused Gifford’s retirement. The stated reason was health, based on his doctor’s advice.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What happened to Maxim afterward?
Analog Devices completed its acquisition of Maxim on August 26, 2021. Maxim is therefore best understood here as the historical company involved in the 2006 transition, not as a current standalone public company. Analog Devices SEC filing
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