SANTA CLARA, Calif.--(BUSINESS WIRE)--Jan. 13, 2009--Applied Materials, Inc. (Nasdaq:AMAT) today announced that after more
than 31 years as a member of the Board of Directors, including over 20
years as Chairman, James C. Morgan will not be standing for re-election.
Having reached the customary Board retirement age of 70, Morgan will
step down as Chairman of the Board and will become Chairman Emeritus,
effective at the March 10, 2009 Annual Meeting of Stockholders. As part
of its succession planning, the Board intends to appoint Mike Splinter,
President and Chief Executive Officer and a Board member, to succeed
Morgan as Chairman.
Morgan joined Applied Materials in 1976 and served as Chief Executive
Officer from 1977 to 2003, one of the longest tenures of any Fortune 500
CEO. With his pioneering vision and pragmatic leadership, Morgan grew
Applied Materials from a modest Silicon Valley semiconductor business
into the world's leading nanomanufacturing technology company.
"It has been a tremendous honor to a be a part of Applied Materials and
to help build a small, young company into a great global competitor
innovating semiconductor, display and service solutions that improve the
way people live all around the world," said Morgan. "I believe that
today Applied has more opportunities than at any time in our history,
and that Mike Splinter is the right person to lead Applied and our team
of employees to extend our technology into energy and the environment."
"By creating and living our core values, Jim fostered an environment
that values employees, technological innovation, global capability and
community involvement," said Splinter. "Through smart moves such as his
pioneering entry into new markets in Japan and Asia, or the
commercialization of the technology that is used to make virtually every
new chip in the world, he has earned the respect of the global business
community and the gratitude of our stakeholders."
Throughout his career, Morgan has received numerous awards from
governments, businesses, and educational and community organizations for
contributions that have had a long-standing effect on technology,
business and society, including the 1996 National Medal of Technology
awarded by the President of the United States.
"I would like to express my appreciation to our employees, customers,
investors and other stakeholders and thank them for their support over
the years," concluded Morgan.
Applied Materials, Inc. is the global leader in Nanomanufacturing
Technology(TM) solutions with a broad portfolio of innovative equipment,
services and software products for the fabrication of semiconductor
chips, flat panels, solar photovoltaic cells, flexible electronics and
energy efficient glass. At Applied Materials, we apply Nanomanufacturing
Technology to improve the way people live. Learn more at www.appliedmaterials.com.
CONTACT: Applied Materials, Inc.
David Miller, 408-563-9582 (editorial/media)
Robert Friess, 408-986-7977 (financial community)
Source: Applied Materials, Inc.
