ASM International has disclosed its CEO succession plan, with CEO Benjamin Loh set to retire and step down at the Annual General Meeting (AGM) on May 13, 2024. Benjamin Loh’s departure will see him succeeded by Hichem M’Saad, the current member of the Management Board and Chief Technology Officer (CTO).
Benjamin Loh, who has served as CEO since 2020, expressed his intention to retire and transition from his role at the AGM in 2024. He has agreed to remain as an advisor for a three-month period post-retirement to facilitate a seamless transition.
During the tenure of Benjamin Loh, ASM witnessed significant growth, doubling its revenue and tripling its market capitalization to over €20 billion. Notable achievements under Benjamin Loh’s leadership include the implementation of a growth-through-innovation strategy, strategic acquisitions, and advancements in sustainability initiatives.
ASM International did not reveal the salary of Hichem M’Saad.
Hichem M’Saad, who joined ASM in 2015, has held leadership positions, including Senior Vice President and General Manager of Thermal Products and, more recently, as CTO and member of the Management Board. His tenure at ASM International has been marked by his instrumental role in product innovation and strong customer engagement.