Benjamin Loh to retire, Hichem M’Saad to succeed him as new CEO

Almere, The Netherlands
February 12, 2024, 8:00 a.m. CET

ASM International N.V. (Euronext Amsterdam: ASM) today announces that CEO Benjamin Loh will retire and step down as per the AGM on May 13, 2024. He will be succeeded by Hichem M’Saad, currently member of the Management Board and CTO.

Benjamin Loh has informed the Supervisory Board of his wish to retire and his decision to step down as CEO as per the Annual General Meeting (AGM) of 2024. Benjamin has agreed to stay on as an advisor for a period of three months after his retirement to ensure a smooth transition.

Benjamin joined ASM as CEO in 2020. Under his leadership, ASM’s growth-through-innovation strategy was launched, revenue more than doubled, significantly outperforming the wafer fab equipment market, and the company’s market capitalization tripled to more than €20 billion. He stepped up investments in the expansion of manufacturing and R&D infrastructure. Other highlights during Benjamin’s tenure include the two successful acquisitions in 2022, which further accelerated ASM’s growth.

Pauline van der Meer Mohr, Chair of the Supervisory Board commented: “On behalf of the Supervisory Board I’d like to thank Benjamin for his substantial contributions and achievements in the last four years. He has led the strengthening of ASM’s strategy, culture and organization. Under his leadership, ASM also took important steps in accelerating sustainability, illustrated by the company’s industry-leading net-zero targets. Everyone at ASM will miss his passion and commitment. We wish him all the best in his retirement.” 

Benjamin Loh: “It has been an honor to lead the ASM team and I’m extremely proud of what we have achieved together. I’m particularly pleased with the steps that we have taken to build a strong culture that allows our talented people to excel and to drive the continued success of our company. The last four years have been among the most exciting and intense of my career, spanning more than 30 years in the semiconductor industry. After my retirement from ASM’s Board, I plan to use my skills and experience to contribute in other capacities albeit with less intense engagement. ASM has never been in a stronger position than today. I am extremely pleased to hand over my responsibilities to Hichem, who, I am sure, will successfully guide ASM into the next growth phase.”