Lam Research Corporation Announces Martin B. Anstice to Succeed Stephen G. Newberry as President and CEO Effective January 1,...
September 08 2011 - 4:36PM
Marketwired
Lam Research Corporation (NASDAQ: LRCX) today announced that the
company's Board of Directors has appointed Martin B. Anstice to
chief executive officer (CEO), effective January 1, 2012. Anstice
succeeds Stephen G. Newberry, who will continue serving as vice
chairman, an executive position with the company, after his
transition as CEO. Anstice will also maintain his current role as
president and chief operating officer.
Commenting on Anstice's promotion, Newberry noted, "As president
and chief operating officer, Martin has brought strong leadership
to our company. He has more than 10 years of experience at Lam
Research -- working closely with our employees, customers, and
suppliers; and earning an excellent reputation within the financial
community during his tenure as chief financial officer," he said.
"Martin has consistently delivered solid results even during one of
the most challenging business environments in our industry's
history. He is the ideal person to lead the company to our next
level of success," Newberry concluded.
Anstice subsequently added, "It is an honor and an incredible
opportunity to lead Lam Research. We have great technologies and
products and a solid track record of delivering strong operational
and financial performance -- which, combined with our talented
employees and strong company culture -- presents an exciting growth
opportunity for us in the years ahead. I would like to thank Steve
and the members of the Board for the confidence and trust they've
placed in me," said Anstice.
Remarking on the transition, James W. Bagley, chairman of Lam
Research said, "Steve's leadership, strategic vision, and focus on
execution have led to a number of significant company and industry
milestones for Lam Research. During his tenure, Lam achieved 50
percent market share in the dry etch market; entered the
single-wafer wet clean business; surpassed $3 billion in revenue
for fiscal year 2011; and gained the position as the fourth largest
wafer fabrication equipment supplier in the world. We pride
ourselves on our seamless leadership transitions, with Martin now
being the second internal CEO appointment for Lam. The timing of
Steve's decision is consistent with Lam's long-term succession plan
developed by Steve and the Board over the past few years. Remaining
as vice chairman, he will continue to focus on the strategic
direction of the company and closely collaborate with Martin, as
well as continue to engage with key customers and buy-side
shareholders. On behalf of the board, I want to thank Steve for his
extraordinary contributions and performance over the last 14
years," concluded Bagley.
Statements made in this press release that are not statements of
historical fact are forward-looking statements and are subject to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements relate, but are
not limited, the future positions, roles, achievements and tenures
for Mr. Newberry and Mr. Anstice, and the opportunities for the
company and its ability to grow. These forward-looking statements
are based on current expectations and are subject to uncertainties
and changes in condition, significance, value and effect as well as
other risks detailed in documents filed by us with the Securities
and Exchange Commission, including specifically our report on Form
10-K for the year ended June 26, 2011. These uncertainties and
changes could cause actual results to vary from expectations. The
Company undertakes no obligation to update the information or
statements made in this press release.
Lam Research Corporation is a major provider of wafer
fabrication equipment and services to the world's semiconductor
industry. Lam's common stock trades on The NASDAQ Global Select
Market(SM) under the symbol LRCX. Lam Research is a NASDAQ-100®
company. For more information, visit www.lamresearch.com.
Company Contacts: Corporate Communications: Lisa Garber
510/572-5241 Email Contact Investor Relations: Shanye Hudson
510/572-4589 Email Contact
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