Applied Materials Inc. said Randhir Thakur, the man who managed
its biggest business, will step down from his position at the
Silicon Valley company on Oct. 30.
A spokesman for the company said Mr. Thakur told employees on
Monday that he had decided the time was right to pursue new
opportunities, both personally and professionally.
"The next generation of leadership is ready, and the new product
groups and field organizations are focused on key technology
inflections and our customers' needs," the spokesman said. "We wish
him all the best."
Mr. Thakur couldn't be reached for comment.
The company disclosed in a Securities and Exchange Commission
filing that it had reached a separation agreement with Mr. Thakur,
which entitles him to benefits that include $3 million in severance
payments.
Applied is the biggest maker of machines used in manufacturing
semiconductors, though it also supplies equipment used in producing
video displays and solar panels. Mr. Thakur held the title of
executive vice president and general manager of Applied's silicon
systems group, making him the most senior executive besides Chief
Executive Gary Dickerson.
Applied, under Mr. Dickerson, tried for 18 months to buy Tokyo
Electron Ltd. as part of what would have created a company with a
combined market value of $29 billion. But the companies abandoned
the deal in April due to antitrust concerns voiced by the U.S.
Justice Department.
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