AMSTERDAM (Reuters) – ASML has approved the appointment of Christophe Fouquet as the company’s new chief executive.
Fouquet, 50, began his new role as head of Europe’s largest technology company at ASML’s (AS:) annual meeting in Veldhoven, the Netherlands, on Wednesday.
“I am thrilled…to have the opportunity to write ASML’s next chapter and continue to create significant value for our shareholders,” Fouquet said.
No vote was required and Chairman Niels Andersen announced that the appointment had been approved.
Fouquet, appointed to the position in November, is a 15-year veteran of the company and previously oversaw its core EUV product lines.
He will replace retiring CEO Peter Wennink, who has led the company since 2014, when its share price rose more than tenfold to become Europe’s largest technology company with a market value of more than 300 billion euros ($320 billion).
“People have been telling me over the last couple of months, ‘You’re retiring at the top of your company’s game,’” Wennink said. “No, we’re not even in the middle.”