Press release
Lam Research Announces New Executive Appointments to Extend Innovation Leadership and Position the Company for Long-Term Growth
FREMONT, Calif., Feb. 21, 2023 /PRNewswire/ -- Lam Research Corp. (NASDAQ: LRCX) today announced a series of changes to its management structure across
About this update from Lam Research Corporation
[{"type":"text","content":"FREMONT, Calif., Feb. 21, 2023 /PRNewswire/ -- Lam Research Corp. (NASDAQ: LRCX) today announced a series of changes to its management structure across operations, innovation, product groups and sales, which together are intended to further position the company to capitalize on strong future growth opportunities in the semiconductor industry. Effective March 1, 2023, new leadership appointments include Pat Lord moving into the newly created position of executive vice president and chief operating officer (COO). Vahid Vahedi will take on the role of senior vice president and chief technology officer (CTO) – succeeding Rick Gottscho, who begins a new executive leadership position at the company focused on the innovation ecosystem. In addition, Sesha Varadarajan will oversee the newly combined etch and deposition business unit, Global Products Group, and Neil Fernandes becomes senior vice president, global customer operations. Lord, Vahedi, Gottscho, Varadarajan and Fernandes will report directly to Tim Archer, president and chief executive officer at Lam.\n\n \n \n \n \n \n \n\n \n\"The criticality of semiconductors has been amplified with the accelerated digitization of the global economy. As an industry leader, Lam is committed to excellence in delivering the cutting-edge technology and operational efficiencies necessary to ensure we are well-positioned for long-term success,\" said Archer. \"Pat, Vahid, Rick, Sesha and Neil exemplify the Lam core values of agility, achievement, and innovation and continuous improvement. This next phase of leadership at Lam will reinforce the company's ability to capitalize on future innovation inflections and support our customers in the 3D era of chipmaking and beyond.\"\nAs COO, Lord will be responsible for driving operational effectiveness, productivity and business resilience in support of Lam's long-term growth goals. Previously executive vice president of Lam's Customer Support Business Group (CSBG) and global operations, his role will now expand to include the company's Global Information Systems and Global Resilience, Security, and Transformation groups. This combined oversight will enable tighter integration between global operations and business transformation initiatives, advancing Lam's ability to nimbly adapt to changing market conditions. Lord, who joined Lam in 2012 as part of th...