8-KLeadership ChangesExhibits & Filings

APPLIED MATERIALS INC /DE 8-K Report, Executive Changes (Oct 24, 2006)

Filed October 24, 2006For Securities:AMAT

Summary

Applied Materials, Inc. (AMAT) filed an 8-K on October 24, 2006, to report a key executive change: the appointment of George S. Davis as the new Chief Financial Officer (CFO), effective November 1, 2006. Mr. Davis, previously the head of Corporate Business Development, brings extensive experience in finance, treasury, and M&A activities to the CFO role, succeeding Nancy H. Handel who is retiring. This transition marks a significant leadership update as the company moves into fiscal year 2007. Investors should note that Mr. Davis has a strong internal track record within Applied Materials, having also served as Corporate Treasurer. The filing also discloses that a $500,000 interest-free loan previously granted to Mr. Davis for relocation purposes was fully repaid prior to his appointment, which is a standard disclosure for executive transitions. The accompanying press release, filed as an exhibit, provides further details on this executive appointment.

Key Highlights

  • 1George S. Davis appointed as Chief Financial Officer (CFO), effective November 1, 2006.
  • 2Mr. Davis's prior roles at Applied Materials include Head of Corporate Business Development and Corporate Treasurer.
  • 3Nancy H. Handel, the current CFO, will retire after assisting Mr. Davis with the transition through January 5, 2007.
  • 4The appointment signifies a leadership change at a critical finance position as the company enters fiscal year 2007.
  • 5No employment agreement has been entered into with the new CFO as of the filing date.
  • 6A $500,000 interest-free loan granted to Mr. Davis in 2002 was fully repaid in October 2006, prior to his CFO appointment.

Frequently Asked Questions

George S. Davis has been appointed as the new Chief Financial Officer (CFO) of Applied Materials, Inc., effective November 1, 2006. He succeeds Nancy H. Handel.

George S. Davis has held several key positions within Applied Materials, including Head of Corporate Business Development and Corporate Treasurer. His experience spans M&A, strategic planning, venture investments, global treasury, and tax activities.

Nancy H. Handel, who has served as CFO since 2004, is retiring from Applied Materials. She will remain with the company until January 5, 2007, to facilitate a smooth transition for Mr. Davis.

The filing notes that a $500,000 interest-free loan previously provided to Mr. Davis in 2002 for relocation assistance was fully repaid by Mr. Davis in October 2006, before his appointment as CFO. No employment agreement has been entered into as of the filing date.