8-KLeadership ChangesExhibits & Filings

APPLIED MATERIALS INC /DE 8-K Report, Executive Changes (Oct 25, 2004)

Filed October 25, 2004For Securities:AMAT

Summary

This Form 8-K filing by Applied Materials, Inc. (AMAT) on October 25, 2004, primarily announces significant changes in its executive leadership. The most critical information for investors is the immediate resignation of Joseph R. Bronson as Executive Vice President and Chief Financial Officer, effective October 22, 2004. In conjunction with Mr. Bronson's departure, the company's Board of Directors has appointed Nancy H. Handel as the new Group Vice President and Chief Financial Officer, also effective October 22, 2004. Ms. Handel, who has a long tenure with Applied Materials and has held various senior financial roles, including Deputy CFO and Corporate Controller, is expected to seamlessly transition into this key leadership position. The filing also notes that no specific employment agreement has been entered into with Ms. Handel at this time.

Key Highlights

  • 1Joseph R. Bronson resigns as Executive Vice President and Chief Financial Officer, effective immediately on October 22, 2004.
  • 2Nancy H. Handel is appointed as the new Group Vice President and Chief Financial Officer, effective October 22, 2004.
  • 3Ms. Handel has extensive experience within Applied Materials, serving in various senior financial capacities since 1985.
  • 4Ms. Handel's prior roles included Group Vice President, Deputy Chief Financial Officer, Corporate Controller, and Principal Accounting Officer.
  • 5The company has not entered into a formal employment agreement with the newly appointed CFO.
  • 6The filing includes a press release dated October 25, 2004, as an exhibit, which likely provides further details on these executive changes.

Frequently Asked Questions

The 8-K filing states that Joseph R. Bronson resigned from his position as Executive Vice President and Chief Financial Officer, effective October 22, 2004. However, the filing does not provide specific details or reasons for his resignation.

Nancy H. Handel has a long history with Applied Materials, having joined the company in March 1985. She has held numerous senior financial executive positions, including Group Vice President, Deputy Chief Financial Officer, Corporate Controller, and Principal Accounting Officer since October 2000. Her extensive experience within the company's finance department is a key factor in her appointment.

The filing does not indicate any immediate changes to the company's financial strategy. Ms. Handel's long tenure and prior roles within Applied Materials suggest a continuation of established financial practices. The absence of a new employment agreement might imply ongoing discussions or a standard probationary period.

Yes, the filing includes Exhibit 99.1, which is a press release issued by Applied Materials, Inc. dated October 25, 2004. Investors seeking more details on the executive transitions should refer to this press release.