ASML Set for Leadership Transition with Christophe Fouquet as Next CEO in 2024

ASML Holding N.V. ASML looks to appoint Christophe Fouquet, currently ASML's Chief Business Officer and member of the Board of Management, as the company's next CEO. 

The appointment is subject to notification of the annual meeting on April 24, 2024.

Also Read: ASML Stock Drops As Key Supplier TSMC Reportedly Postpone Deliveries Amidst Industry Demand Concerns

On the same date, ASML's current CEO, Peter Wennink, will retire from ASML upon completing his current appointment terms.

Earlier in October, ASML caused a stir following reports of China's Semiconductor Manufacturing International Corp (SMIC) utilizing ASML equipment to produce an advanced processor for a Chinese smartphone. 

ASML's immersion deep ultraviolet machines, combined with tools from other manufacturers, were instrumental in creating the chip for Huawei Technologies Co's smartphone. 

The stories questioned the effectiveness of export restrictions on Europe's leading tech firm.

The U.S. sanctions affect ASML shipments to six fabs in China, including one SMIC facility.

Price Action: ASML shares traded lower by 0.83% at $681.90 premarket on the last check Thursday.