ARM CEO Warren East has announced that he will stand down from his role at company, making way for president Simon Segars.

East has been CEO at the Cambridge-based company since 2001, having been at the company for a total of 19 years. During his time at the firm, which develops semiconductor architecture, sales of low power chips using ARM designs have risen dramatically due to the popularity of mobile devices, with ARM designs also beginning to be used in server processors.

51 year old East will officially retire on 1st July 2013, handing over to Segars, who joined ARM's board in 2005.

East commented: "It has been a privilege to lead ARM during such a momentous and exciting time for our industry and I am proud of what the ARM team of employees and partners has achieved together while I have been CEO; ARM is a great company with a strong market position and a unique culture.

"We take a very long-term view about our business, and we believe that now is the right time to bring in new leadership, to execute on the next phase of growth and to plan even further into the future."

Segars is set to replace East, having held senior positions at the company in both the UK and USA since joining ARM since 1991.

"I am honoured to have been appointed to succeed Warren, who has achieved so much in his time leading the business," Segars said. "Above all, Warren's vision of the ARM business model and commitment to the ARM partnership has been inspirational and has created a tremendous platform for future growth.

"I am keen to lead the Company into the next phase of growth, working even more closely with John, the Board, our employees and our customers as well as continuing to develop the ARM partnership."