ASML CEO Peter Wennink will step down in April next year and will be succeeded by Frenchman Christophe Fouquet. The Eindhoven chip machine manufacturer announced this on Thursday.
Wennink has been the CEO of Europe’s largest tech company since 2013 and his term ends in 2024. The term of chief technology officer Martin van den Brink also expires and will not be continued.
The successor is therefore the French Fouquet. He is currently chief business officer at the Veldhoven-based company and has been working at ASML for fifteen years.
Shareholders may vote on Fouquet’s appointment at the company’s annual meeting on April 24 next year.
ASML had some turbulent years. For example, during the corona pandemic, a major shortage of chips arose, which further increased the demand for the company’s machines. Turnover grew considerably last year and was four times greater than when Wennink took over as CEO in 2013.
At the same time, the Eindhoven company increasingly came into the crosshairs of American politics in particular. ASML has very high-quality chip technology in-house and the Americans do not want it to end up in the hands of China. As a result, the company has had to deal with strict export regulations for a number of advanced machines.
