Applied Materials Appoints Akash Palkhiwala to Board of Directors
Applied Materials (NASDAQ: AMAT) announced that Akash Palkhiwala, Chief Financial Officer and Chief Operating Officer of Qualcomm, has been appointed to its board of directors and to the board’s Audit Committee.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Applied Materials (NASDAQ: AMAT) announced that Akash Palkhiwala, Chief Financial Officer and Chief Operating Officer of Qualcomm, has been appointed to its board of directors and to the board’s Audit Committee. Applied Materials highlighted his extensive financial, operational and semiconductor industry experience, including serving as Qualcomm’s CFO since 2019 and COO since 2024, with responsibilities spanning finance, global go-to-market teams, semiconductor operations and IT.
Positive
- Experienced semiconductor executive joins board – Akash Palkhiwala brings decades of semiconductor finance and operations experience from Qualcomm
- Added expertise on Audit Committee – Appointment of a sitting CFO/COO strengthens Applied Materials’ board oversight in financial and operational matters
Negative
- None.
Details
News Market Reaction – AMAT
On Aug 28, the first trading day after this news, AMAT closed 4.34% below the previous close. Argus tracked a trough of -3.7% from its starting point during tracking. Our momentum scanner recorded 18 alerts for this stock that day. Relative volume reached 2.1x the daily average during tracking.
Data tracked by StockTitan Argus for the Aug 28 session.
AI-generated analysis. How Rhea-AI works. Not financial advice.
SANTA CLARA, Calif., Aug. 27, 2026 (GLOBE NEWSWIRE) -- Applied Materials, Inc. today announced the appointment of Akash Palkhiwala to serve on its board of directors. As Chief Financial Officer and Chief Operating Officer of Qualcomm Incorporated, Mr. Palkhiwala brings extensive financial and operational leadership experience in the computing and technology industry. Mr. Palkhiwala has also been appointed to the board’s Audit Committee.
“Akash is a terrific addition to our board of directors,” said Tom Iannotti, Chairman of the Board. “His track record of leadership in finance and decades of experience in the semiconductor industry will add to the strength of Applied Materials’ board and serve us well in our next phase of growth.”
Mr. Palkhiwala has served as Qualcomm’s CFO since 2019 and COO since 2024 and is responsible for the finance organization, global go-to-market teams, semiconductor operations and IT. He has also served in various finance leadership roles since joining Qualcomm in 2001. Previously, Mr. Palkhiwala was a private equity analyst at KeyBank.
Mr. Palkhiwala holds an undergraduate degree in mechanical engineering from L.D. College of Engineering in India and an MBA from the University of Maryland.
About Applied Materials
Applied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions that are at the foundation of virtually every new semiconductor and advanced display in the world. The technology we create is essential to advancing AI and accelerating the commercialization of next-generation chips. At Applied, we push the boundaries of science and engineering to deliver material innovation that changes the world. Learn more at www.appliedmaterials.com.
Contact:
Ricky Gradwohl (editorial/media) 408.235.4676
Mike Sullivan (financial community) 408.986.7977
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6053f01f-c6a8-4f48-8850-1c97770d5a4b
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.