Japan's Advantest says executive Lefever to become CEO
28/02/2024 05:57
By Sam Nussey
TOKYO, Feb 28 (Reuters) - Japan chip testing equipment
company Advantest Corp 6857.T said on Wednesday its Chief
Operating Officer Douglas Lefever, a U.S. citizen, will become
CEO from April, with current Chief Executive Yoshiaki Yoshida to
move to chairman.
Lefever, who became COO in January last year and previously
served as CEO of Advantest America, joins a select group of
foreign leaders of companies in Japan, which is known for its
hierarchical and codified corporate culture.
Lefever takes Advantest's reins at a time of growing
investor anticipation about the boost chip equipment makers may
receive from investment in artificial intelligence, with the
company's shares gaining 44% year-to-date.
Advantest said last month it sees an improvement in the chip
industry as inventories adjust and expects the memory tester
market to reach roughly $1.3 billion to $1.6 billion this year
compared with about $1.1 billion last year.
Tokyo Electron's 8035.T shares have gained 45% this year
with Screen Holdings 7735.T up about 60%.
(Reporting by Sam Nussey; Editing by Jamie Freed)
((sam.nussey@tr.com;))