ASML Appoints Christophe Fouquet as New CEO at 2024 Annual Meeting

ASML Holding N.V., Europe's largest technology company, announced at its Annual General Meeting on April 24, 2024 that Christophe Fouquet will begin his term as the new CEO of ASML. This transition in leadership is set to occur at the company's 2024 annual meeting in Veldhoven, Netherlands.

Fouquet, a 15-year veteran at ASML who previously oversaw the company's top 'EUV' product lines, will replace retiring CEO Peter Wennink. During Wennink's tenure since 2014, ASML's share price increased more than tenfold, and it became Europe's largest tech company with a market value above 300 billion euros. "The company is not even in the middle of its success," Wennink said at the meeting.

Expressing his excitement, Fouquet stated, "I am happy to write the next chapter of ASML and to continue to build significant value for our shareholders." The appointment was approved without a vote, as announced by ASML's chairman Nils Andersen.

Why this matters: ASML's leadership transition comes at a critical time for the semiconductor industry. As a key supplier of lithography machines used in chip manufacturing, ASML plays a vital role in enabling the production of advanced microchips that power modern technologies. The appointment of a new CEO will shape the company's strategy and impact the global semiconductor landscape in the coming years.

The 2024 AGM also marked the end of the terms of Peter Wennink and Martin van den Brink as Presidents of ASML. ASML's statutory financial statements for the 2023 financial year were adopted, and a positive advisory vote was cast on the remuneration report for the ASML Board of Management and Supervisory Board for the 2023 financial year.

Looking ahead to the composition of the Supervisory Board in 2025, it was discussed that Birgit Conix and Annet Aris are set to retire by rotation per the 2025 AGM. As ASML continues to be a leading supplier to the semiconductor industry, providing chipmakers with hardware, software, and services to mass produce integrated circuits, the leadership of Christophe Fouquet is anticipated to guide the company through the next phase of its growth and technological advancements.

Key Takeaways

• ASML appoints Christophe Fouquet as new CEO, replacing Peter Wennink.
• Fouquet to lead ASML, Europe's largest tech company, valued at over 300B euros.
• ASML's leadership transition comes at a critical time for the semiconductor industry.
• Wennink's tenure saw ASML's share price increase more than tenfold.
• Fouquet aims to continue building value for ASML's shareholders.