Summary
Applied Materials, Inc. (AMAT) filed a Form 8-K on June 5, 2015, to announce a significant change in its Board of Directors leadership. Effective immediately on June 5, 2015, Willem P. Roelandts was appointed as the new Chairman of the Board. Mr. Roelandts brings extensive experience to the role, having served as a director since 2004 and as Lead Independent Director since 2008. This leadership transition follows the retirement of Michael R. Splinter as both a director and Chairman of the Board. The company explicitly stated that Mr. Splinter's retirement is not due to any disagreements regarding operations, policies, or practices. The Board size has been adjusted from ten to nine directors as a result of Mr. Splinter's departure. In conjunction with the appointment of an independent Chairman, the Board has decided not to appoint a successor Lead Independent Director.
Key Highlights
- 1Willem P. Roelandts appointed Chairman of the Board, effective June 5, 2015.
- 2Roelandts has been a director since 2004 and Lead Independent Director since 2008.
- 3Michael R. Splinter retired as director and Chairman of the Board.
- 4Splinter's retirement is not due to any disagreements with the company.
- 5Board size reduced from ten to nine directors.
- 6No successor Lead Independent Director will be appointed, as the Chairman is independent.