The latest investor updates on stocks that are trending on Thursday.
ASML Chief Executive Peter Wennink will retire at the end of his term next April to be replaced by company veteran Christophe Fouquet, the Dutch semiconductor equipment manufacturer said on Thursday. Wennink, 66, has overseen a period of blistering growth for ASML since being elevated to CEO from finance chief in 2013, becoming Europe's largest technology company with market capitalisation of 250 billion euros ($274 billion) as its stock rose by more than 1,000%. While Wennink held top jobs at ASML the company came to dominate the lithography market, the segment of the chipmaking industry that uses light to help print chip circuitry, leaving behind Japanese rivals Nikon and Canon.
Peter Wennink, chief executive of chipmaking equipment manufacturer ASML, will step down in April after more than a decade at the helm of Europe’s most valuable tech company. ASML’s board has appointed Christophe Fouquet, a chip industry veteran who is now chief business officer, as Wennink’s replacement, the group said on Thursday. Martin van den Brink, ASML’s technology chief and co-president alongside Wennink, will also retire next spring after almost 40 years at the Dutch company.