Dutch semiconductor equipment manufacturer ASML announced on Thursday that its CEO Peter Wennink will retire in April next year and plans to appoint current Chief Business Officer and Management Committee member Christophe Fouquet to replace him. The appointment is subject to approval at the annual shareholder meeting on April 24, 2024.
Asma is the only company in the world that provides machines and equipment for manufacturing advanced process chips. The company's main product is lithography machines, which are the core equipment and important level for manufacturing chips. There are only a few manufacturers in this field.
Wenningke joined Asma in 1999 and has extensive experience in finance and accounting. Before joining the company, I worked as a partner at Deloitte, specializing in the high-tech industry with a focus on semiconductor equipment.
Since becoming the CEO of Asma in 2013, under his leadership, Asma has experienced a period of rapid growth and has become one of the largest technology companies in Europe, with a market value of 250 billion euros (274 billion US dollars) and a stock price increase of over 1000%.
The successor Fukai has been working at Asma for 15 years, previously responsible for the Extreme Ultraviolet Photolithography (EUV) product line, which currently accounts for about half of the company's revenue. EUV's customers include TSMC, Samsung, Intel, as well as storage chip manufacturers Micron and SK Hynix.
Wen Ningke commented that Fukai's career was also a period of rapid development for the company, as he understood all of our customers, suppliers, employees, and shareholders. "He is a well-known figure, and we have very productive collaborations. We share the same values, and he has the same 'Asma DNA'."
Fukai responded that I am excited and honored to serve as CEO, and look forward to the company's continued development on a solid foundation in the coming years, and continuing to create value for all stakeholders.
In addition, Asma also announced that Chief Technology Officer Martin van den Brink will retire in April next year, but a successor has not yet been determined. Brink joined Asma in 1984 and is considered one of the driving forces behind the company's technological innovation.
Asma claims to express gratitude and admiration for the significant contributions made by Wenningke and Brink over the past few decades, and will do its utmost to ensure a smooth transition for the company.
As the world's most advanced chip equipment manufacturer, Asma is facing increasing geopolitical tensions, leading to export controls on its technology.
Wen Ningke attempted to retain the opportunity to enter the Chinese market, and he has been outspoken in criticizing policies that restrict global trade. He previously stated that there is no hope of isolating China, and if the West does not share technology, China may completely develop its own technological solutions. He also believed that "we are too arrogant.".