SEMICONDUCTOR equipment maker AEM Holdings : AWX 0% will appoint a new chief executive officer from Jul 1, 2024.
This follows the resignation of its current CEO Chandran Nair which will take effect from Jun 30, the company said on Thursday (May 30).
Nair is leaving the company “to pursue other personal interests”, the company said. He was appointed CEO in 2020.
To prepare for the leadership transition, AEM will first appoint Amy Leong as deputy CEO, effective May 30.
Leong was most recently senior vice-president and chief commercial officer at Nasdaq-listed semiconductor supplier FormFactor.
She was also a board member of Nasdaq-listed Skywater Technology Foundry, a US-based semiconductor and technology foundry.
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Leong will then take on the role of CEO from Jul 1.
Loke Wai San, non-executive chairman of AEM, noted that the board was “impressed” with Leong’s track record of success in the semiconductor industry and broad commercial network in the United States, Europe, Taiwan, and North Asia.
“We have every confidence that Amy, chief technology officer Samer Kabbani, and chief operating officer Chua Tat Ming will work together as our leadership team to drive the adoption of our innovative Test 2.0 solutions across the industry,” he said.
Loke noted that the semiconductor capital equipment industry is often cyclical and dynamic, with new industry leaders emerging from time to time.
The past four years saw a boom preceding a severe downturn, he added.
Loke said: “On behalf of the board, I would like to thank Chandran for his contributions and the positive impact he has made on AEM in preparing the company for its next phase of growth.”
Shares of AEM closed 1 per cent higher at S$1.96 on Thursday.
