Benjamin Loh to retire, Hichem M’Saad to succeed him as new CEO
12 February 2024 - 6:00PM
Benjamin Loh to retire, Hichem M’Saad to succeed him as new CEO
Almere, The Netherlands February 12, 2024, 8:00 a.m. CET
ASM International N.V. (Euronext Amsterdam:
ASM) today announces that CEO Benjamin Loh will retire and step
down as per the AGM on May 13, 2024. He will be succeeded by Hichem
M’Saad, currently member of the Management Board and CTO.
Benjamin Loh has informed the Supervisory Board
of his wish to retire and his decision to step down as CEO as per
the Annual General Meeting (AGM) of 2024. Benjamin has agreed to
stay on as an advisor for a period of three months after his
retirement to ensure a smooth transition.
Benjamin joined ASM as CEO in 2020. Under his
leadership, ASM’s growth-through-innovation strategy was launched,
revenue more than doubled, significantly outperforming the wafer
fab equipment market, and the company’s market capitalization
tripled to more than €20 billion. He stepped up investments in the
expansion of manufacturing and R&D infrastructure. Other
highlights during Benjamin’s tenure include the two successful
acquisitions in 2022, which further accelerated ASM’s growth.
Pauline van der Meer Mohr, Chair of the
Supervisory Board commented: “On behalf of the Supervisory Board
I’d like to thank Benjamin for his substantial contributions and
achievements in the last four years. He has led the strengthening
of ASM’s strategy, culture and organization. Under his leadership,
ASM also took important steps in accelerating sustainability,
illustrated by the company’s industry-leading net-zero targets.
Everyone at ASM will miss his passion and commitment. We wish him
all the best in his retirement.”
Benjamin Loh: “It has been an honor to lead the
ASM team and I’m extremely proud of what we have achieved together.
I’m particularly pleased with the steps that we have taken to build
a strong culture that allows our talented people to excel and to
drive the continued success of our company. The last four years
have been among the most exciting and intense of my career,
spanning more than 30 years in the semiconductor industry. After my
retirement from ASM’s Board, I plan to use my skills and experience
to contribute in other capacities albeit with less intense
engagement. ASM has never been in a stronger position than today. I
am extremely pleased to hand over my responsibilities to Hichem,
who, I am sure, will successfully guide ASM into the next growth
phase.”
The Supervisory Board has decided to appoint
Hichem M’Saad as ASM’s new CEO and Chairman of the Management Board
as per the AGM on May 13, 2024.
Hichem joined ASM in 2015 as the Senior Vice
President and General Manager of the Thermal Products business
unit. From 2019, he held the role of Executive Vice President and
General Manager of Global Products, including responsibility for
developing ASM’s ALD, Epi, VF, and PECVD products. Since 2022,
Hichem has been member of the Management Board and Chief Technology
Officer. He has been instrumental in several of ASM’s successful
innovative products, including the Intrepid ES, Synergis, Previum,
A400 DUO, and Sonora.
Before joining ASM, he had a 15-year tenure with
Applied Materials, including positions as Corporate VP and general
manager of the Dielectric Systems and Modules (DSM) and the
Chemical Mechanical Polishing (CMP) divisions. He also served as
CEO of a start-up in the solar photovoltaic industry for six
years.
Pauline van der Meer Mohr: “Hichem M’Saad is the
ideal candidate to succeed Benjamin Loh. Since joining ASM in 2015,
and the last two years as CTO and member of the Management Board,
Hichem has demonstrated strong leadership and people skills. He has
been instrumental in expanding engagements with key customers, and
he has been a driving force behind many of ASM’s successful
products and innovations. Already before joining ASM, Hichem had
built a strong track record in innovation and in executive roles in
the semiconductor industry.”
Hichem M’Saad: “I’m honored and thrilled to
succeed Benjamin as new CEO, and I’m thankful for the confidence of
the Supervisory Board. I will continue to focus, together with the
rest of the leadership team and all ASM people, on the execution of
our strategy. We have a great opportunity to drive long-term value
as we support our customers in their device technology transition
with our leading and innovative products.”
About ASM International
ASM International N.V., headquartered in Almere,
the Netherlands, and its subsidiaries design and manufacture
equipment and process solutions to produce semiconductor devices
for wafer processing, and have facilities in the United States,
Europe, and Asia. ASM International's common stock trades on the
Euronext Amsterdam Stock Exchange (symbol: ASM). For more
information, visit ASM's website at www.asm.com.
Cautionary note regarding forward-looking
statements: All matters discussed in this press release, except for
any historical data, are forward-looking statements.
Forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from those in the
forward-looking statements. These include, but are not limited to,
economic conditions and trends in the semiconductor industry
generally and the timing of the industry cycles specifically,
currency fluctuations, corporate transactions, financing and
liquidity matters, the success of restructurings, the timing of
significant orders, market acceptance of new products, competitive
factors, litigation involving intellectual property, shareholders
or other issues, commercial and economic disruption due to natural
disasters, terrorist activity, armed conflict or political
instability, changes in import/export regulations, epidemics,
pandemics and other risks indicated in the company's reports and
financial statements. The company assumes no obligation nor intends
to update or revise any forward-looking statements to reflect
future developments or circumstances.This press release contains
inside information within the meaning of Article 7(1) of the EU
Market Abuse Regulation.
Contact
Investor and media relations
Victor BareñoT: +31 88 100 8500 E:
investor.relations@asm.com
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