ASML CEO Succession: Dutch semiconductor equipment manufacturer ASML has made a significant announcement regarding its leadership. The company disclosed on Thursday that its Chief Executive Officer, Peter Wennink, is planning to retire in April 2024, marking the end of his current term. ASML has outlined its intention to appoint Christophe Fouquet, currently serving as Chief Business Officer, as the new CEO. Simultaneously, Chief Technology Officer Martin van den Brink is also scheduled to retire on April 24, 2024.
Nils Andersen, the chairman of ASML’s supervisory board, expressed confidence in the choice of Fouquet as the new CEO. Andersen characterized Fouquet as an experienced leader with a deep understanding of ASML’s technology and the broader semiconductor industry ecosystem. ASML holds a commanding position in the global market for lithography systems, which are high-value machines integral to the chip manufacturing processes of major industry players such as TSMC, Samsung, and Intel.
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Peter Wennink, who has been at the helm as ASML’s CEO since 2013, expressed his satisfaction with the succession plan, emphasizing the wealth of experience and familiarity that Fouquet brings to the role. Wennink highlighted Fouquet’s 15-year tenure within the company as a testament to his commitment and understanding of ASML’s operations. He described the transition as a natural evolution, underscoring Fouquet’s knowledge of customers, suppliers, internal teams, and shareholders. The outgoing CEO emphasized a shared set of values and a collaborative spirit rooted in what he referred to as the “ASML DNA.”
The transition in leadership at ASML comes at a time when the semiconductor industry is undergoing rapid advancements and facing challenges, making the role of the CEO pivotal in steering the company through a dynamic landscape. The move reflects ASML’s strategic vision for the future and the importance of continuity in leadership to navigate the complexities of the semiconductor market. The incoming CEO, Christophe Fouquet, will be stepping into big shoes, and stakeholders will be closely watching how he guides ASML through its next phase of growth and innovation.
Our Reader’s Queries
How much does ASML CEO make?
Peter T. F. Wennink has been the CEO of ASML Holding since July 1999, with a tenure of 24.5 years. His total yearly compensation amounts to 4.28M, with 23.8% being his salary and 76.2% being bonuses, which includes company stock and options. He directly owns 0.01% of the company’s shares, which are worth $28.58M.
Who is the new CEO of ASML?
ASML, the Dutch tech giant, has revealed its plans to appoint Christophe Fouquet as its new chief executive officer in the coming year. Fouquet, who has served as the company’s chief business officer for many years, will take over from Peter Wennink, who has been at the helm for a long time. This move is expected to bring a fresh perspective to the company’s leadership and drive its growth in the years to come.
Is ASML owned by Philips?
ASML achieved full independence as a public company in 1995, with listings on both the Amsterdam and New York stock exchanges. Philips divested half of its shares during the IPO and continued to sell off the remaining shares in subsequent years.
Who are the owners of ASML Holdings?
The top shareholders of the company are Capital World Investors, Price T Rowe Associates Inc /md/, Fisher Asset Management, LLC, AEPGX – EUROPACIFIC GROWTH FUND Class A, Capital International Investors, Fmr Llc, VWIGX – Vanguard International Growth Fund Investor Shares, AGTHX – GROWTH FUND OF AMERICA Class A, and State Farm Mutual.