ASM INTERNATIONAL N.V. ANNOUNCES NEW CEO
Almere, The Netherlands
March 23, 2020, 8 a.m. CET
The Supervisory Board of ASM International N.V. (Euronext Amsterdam: ASM) today announced the nomination of Benjamin Loh as CEO, President and Chairman of the Management Board of ASMI, succeeding Chuck del Prado.
Mr. Loh is a Singaporean citizen, with a proven background in the high tech industry. From the late nineties until 2005 he worked for Oerlikon Corporation, lastly as Senior Vice President responsible for Asia. After that he joined Veeco Instruments Inc where his last position was the Executive Vice President responsible for Global Field Operations. He then moved to FEI Company in 2007 where he held various executive positions and ultimately became its Chief Operating Officer. In 2015 he joined the Swiss-based VAT Vacuum Valves company where, as Group Management Board member, he was responsible for worldwide Sales and Marketing until late 2017. Mr. Loh also holds positions as a non-executive director in several companies, and was an advisory board member of Semi China.
Jan Lobbezoo, Chairman of ASMI Supervisory Board, said, “The Board is very pleased to nominate Benjamin Loh to lead the Company in its next growth phase. Benjamin has a wealth of experience as a business leader and from working in the electronics and semiconductor industry.”
About the retirement of Chuck del Prado, Mr. Lobbezoo said: “We are very grateful for Chuck’s tremendous contributions to ASM. Under his leadership ASM has grown significantly. He leaves the company in great shape, with a lot of opportunities for further growth.”
The remuneration package of Mr. Loh shall consist of a base salary of €630,000, in combination with a long term share incentive and a short term cash incentive, both dependent on realizing certain predefined targets.
ASM shareholders will be asked to appoint Mr. Loh as Management Board member for a four-year term at the Annual General Meeting of Shareholders on May 18, 2020. After that the Supervisory Board will appoint Benjamin as the CEO, President and Chairman of the Management Board.
About ASM International
ASM International NV, headquartered in Almere, the Netherlands, its subsidiaries and participations design and manufacture equipment and materials used to produce semiconductor devices. ASM International, its subsidiaries and participations provide production solutions for wafer processing (Front-end segment) as well as for assembly & packaging and surface mount technology (Back-end segment) through facilities in the United States, Europe, Japan and Asia. ASM International's common stock trades on the Euronext Amsterdam Stock Exchange (symbol ASM). For more information, visit ASMI'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, epidemics 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.
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