Dr. Youssef El-Mansy Retires from Lam Research’s Board of Directors
Lam Research Corporation (Nasdaq: LRCX) announced the retirement of Dr. Youssef A. El-Mansy from its board of directors, effective November 1, 2020, prior to the company's annual stockholders meeting.
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Rhea-AI Summary
Lam Research Corporation (Nasdaq: LRCX) announced the retirement of Dr. Youssef A. El-Mansy from its board of directors, effective November 1, 2020, prior to the company's annual stockholders meeting. Dr. El-Mansy has served on the boards for 16 years and contributed significantly to the successful merger with Novellus Systems, bringing extensive semiconductor process technology expertise from his tenure at Intel. His departure raises questions about continuity and experience at a crucial time for the company.
Positive
- Dr. El-Mansy's long tenure on the board, providing valuable insights in semiconductor technology.
- His role in facilitating the successful merger with Novellus Systems, enhancing company strategy.
Negative
- Concerns about leadership continuity and experience gaps with Dr. El-Mansy's departure.
Details
News Market Reaction – LRCX
The recorded move for LRCX in the trading session of this news was +1.15%.
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FREMONT, Calif., Sept. 14, 2020 (GLOBE NEWSWIRE) -- Lam Research Corporation (Nasdaq: LRCX) today announced the retirement of Dr. Youssef A. El-Mansy from its board of directors, effective November 1, 2020, prior to the company’s 2020 annual meeting of stockholders. Dr. El-Mansy served as a member of the Lam and Novellus Systems, Inc. boards for 16 years.
“Youssef was on the board of Novellus and helped ensure a smooth integration into Lam Research as we executed the most successful merger in the semiconductor equipment industry,” said Abhijit Y. Talwalkar, chairman of the board for Lam Research. “Youssef brought to every board discussion a valuable understanding of semiconductor process technology and of the industry as a result of his many years as a leader at Intel.”
“Over the course of the past 16 years Youssef has been a trusted adviser and guide on my journey to become Lam’s CEO,” said Tim Archer, president and CEO of Lam Research. “He provided constructive insight on new ideas and in his role on the board helped shape our successful technology inflection-focused product strategy.”
During his 25-year tenure at Intel, Dr. El-Mansy played a key role in the development of microprocessor technology, heading up Intel's leading Technology Development Group and processor design center. He also managed two of the company's wafer manufacturing facilities. Prior to Intel, Dr. El-Mansy held engineering positions at Bell Northern Research in Canada. He holds B.S. and M.S. degrees in electronics and communications from Alexandria University in Egypt, and a Ph.D. in electronics from Carleton University in Ottawa, Canada.
About Lam Research
Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. As a trusted, collaborative partner to the world’s leading semiconductor companies, we combine superior systems engineering capability, technology leadership, and unwavering commitment to customer success to accelerate innovation through enhanced device performance. In fact, today, nearly every advanced chip is built with Lam technology. Lam Research (Nasdaq: LRCX) is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com. (LRCX-B)
Company Contacts:
Libra White
Media Relations
510-572-7725
publicrelations@lamresearch.com
Ram Ganesh
Investor Relations
(510) 572-1615
investor.relations@lamresearch.com
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