(Bloomberg) — Applied Materials Inc., the biggest maker of chip manufacturing equipment, said it appointed former Intel Corp. and Xilinx Inc. executive Brice Hill as chief financial officer.
Hill, 55, will replace Bob Halliday, who had taken on the role temporarily last October when the Dan Durn left for another job. Halliday will return to his position as vice president and adviser, the Santa Clara, California-based company said Monday in a statement.
The new CFO is joining a company in the middle of a growth spurt sparked by a global shortage of semiconductors and the resulting flood of spending on new capacity by Applied Materials’s customers. Investors are focused on how sustainable that surge will prove.
Hill was most recently the chief financial officer at Xilinx, which has been acquired by Advanced Micro Devices Inc. Before joining that company he acted as finance leader for several of Intel’s largest business units over more than 20 years. Hill was a General Motors Corp. before Intel.
Applied Materials shares were down 20% this year through Friday’s close, in line with losses by the Philadelphia Stock Exchange Semiconductor Index.
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