Applied Materials, Inc. (AMAT) Names Gary Dickerson As CEO

Posted Aug 16, 2013

Applied Materials, Inc. (NASDAQ:AMAT) has named Gary Dickerson as the new chief executive officer, replacing Michael Splinter.  Dickerson, 56, will take over the semiconductor company on September 1st.  Splinter has been CEO of Applied Materials since 2003.

Dickerson joined Applied Materials in 2011 after the acquisition of Varian Semiconductor Equipment Associates.  He was CEO of Varian and previously worked at KLA-Tencor.

Dickerson will focus on strengthening the company’s precision engineering operations.  Applied Materials is known for being one of the first semiconductor companies to establish in Silicon Valley.  The company is known for building memory chips along with products for solar cells and displays.

Applied Materials, Inc. (NASDAQ:AMAT) today reported their Q3 2013 results.  The company recorded profits of $168 million, which is a drop of $218 million from the previous year’s third quarter.  The company’s third quarter revenues were $1.98 billion, which is a fall from the previous year’s $2.34 billion.

Applied Materials executives are expecting orders to pick up as fabs are updated to make smaller chips and new memory types like 3D NAND flash.  Michael Splinter will be receiving the Semiconductor Industry Association?s Robert Noyce Award this year for his contributions to the semiconductor industry.

Full disclosure: I used to work for Applied Materials in Austin, Texas during the summer of 2004-2005 as part of a supply chain management internship.