Japan's Advantest says US executive Lefever to become CEO (updated)
28/02/2024 09:38
(Adds executive comments, paragraphs 4,6)
By Sam Nussey
TOKYO, Feb 28 (Reuters) - Japan chip test 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
becoming chairman.
Lefever, who became COO in January 2023 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.
He takes the helm at Advantest 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 up 44% year-to-date.
"We've worked very hard to earn our position, particularly
in the emerging areas of AI," said Lefever.
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 in 2023.
"Semiconductor devices are increasing in their complexity as
well and that industry is asking Advantest to play an...
increasingly larger role in solving the associated test
problems," Lefever said.
Advantest, which makes 96% of its sales overseas, along with
other Japanese equipment and materials makers plays an important
role in the global chip supply chain as governments around the
world are moving to secure access to semiconductors.
Its shares closed flat on Wednesday after the announcement.
Tokyo Electron's 8035.T shares have gained 44% this year, with
Screen Holdings 7735.T up almost 60%.
(Reporting by Sam Nussey; Editing by Jamie Freed and Alexander
Smith)
((sam.nussey@tr.com;))