ASM International N.V. announced 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. 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.