Rambus Fires CEO Ron Black

Mr. Black joined Silicon Valley company in 2012; contract was renewed last year and set to expire in June 2022

Rambus Inc. on Thursday said its board terminated Ron Black as chief executive, effective immediately, accusing him of conduct that “fell short of the company’s standards.”

The company, which licenses technology used in semiconductors and software, said the firing followed an incident unrelated to the company’s financial and business performance. A company representative declined to comment further.

Mr....