Berliner Boersenzeitung - China, future HQ: New ASML boss faces bulging in-tray

EUR -
AED 4.401854
AFN 77.897256
ALL 96.833701
AMD 453.488183
ANG 2.145273
AOA 1098.954337
ARS 1729.081733
AUD 1.717911
AWG 2.15866
AZN 2.040433
BAM 1.967924
BBD 2.410672
BDT 146.262316
BGN 2.012596
BHD 0.451741
BIF 3559.317113
BMD 1.198423
BND 1.51589
BOB 8.270852
BRL 6.245461
BSD 1.196884
BTN 109.783816
BWP 15.753184
BYN 3.410526
BYR 23489.096101
BZD 2.407251
CAD 1.629915
CDF 2684.467728
CHF 0.918076
CLF 0.026087
CLP 1030.047915
CNY 8.334614
CNH 8.319005
COP 4402.875269
CRC 594.668609
CUC 1.198423
CUP 31.758217
CVE 110.793941
CZK 24.250068
DJF 212.983927
DKK 7.467255
DOP 75.441109
DZD 154.838707
EGP 56.32577
ERN 17.976349
ETB 185.75505
FJD 2.638029
FKP 0.875018
GBP 0.869277
GEL 3.229785
GGP 0.875018
GHS 13.10474
GIP 0.875018
GMD 87.484534
GNF 10486.203264
GTQ 9.183655
GYD 250.410645
HKD 9.3486
HNL 31.710475
HRK 7.538203
HTG 156.968364
HUF 380.014633
IDR 20012.470194
ILS 3.722842
IMP 0.875018
INR 109.714872
IQD 1569.934484
IRR 50483.580457
ISK 145.296991
JEP 0.875018
JMD 188.048533
JOD 0.849674
JPY 182.912353
KES 154.872094
KGS 104.8009
KHR 4830.844578
KMF 493.750766
KPW 1078.604207
KRW 1722.583589
KWD 0.36696
KYD 0.997445
KZT 602.997475
LAK 25817.036779
LBP 102525.11035
LKR 370.616394
LRD 222.24754
LSL 19.126971
LTL 3.538632
LVL 0.724915
LYD 7.579969
MAD 10.851761
MDL 20.180327
MGA 5362.944187
MKD 61.664206
MMK 2516.748037
MNT 4272.540069
MOP 9.617632
MRU 47.793202
MUR 54.551915
MVR 18.515755
MWK 2080.462606
MXN 20.660008
MYR 4.735568
MZN 76.411323
NAD 19.12714
NGN 1687.955172
NIO 43.98542
NOK 11.521264
NPR 175.654642
NZD 1.992241
OMR 0.460804
PAB 1.196864
PEN 4.010525
PGK 5.10172
PHP 70.626078
PKR 335.259502
PLN 4.197765
PYG 8022.492074
QAR 4.363467
RON 5.096534
RSD 117.411955
RUB 91.863782
RWF 1740.110589
SAR 4.4941
SBD 9.680475
SCR 16.921881
SDG 720.847311
SEK 10.55304
SGD 1.512938
SHP 0.899128
SLE 29.124591
SLL 25130.335892
SOS 684.955658
SRD 45.895983
STD 24804.942092
STN 24.687519
SVC 10.472563
SYP 13254.051915
SZL 19.126646
THB 37.171467
TJS 11.179126
TMT 4.194481
TND 3.392135
TOP 2.885515
TRY 52.012492
TTD 8.139212
TWD 37.57956
TZS 3061.041504
UAH 51.378175
UGX 4273.36308
USD 1.198423
UYU 44.84629
UZS 14530.882075
VES 429.60616
VND 31319.59375
VUV 143.507965
WST 3.270848
XAF 660.03991
XAG 0.011307
XAU 0.000236
XCD 3.238799
XCG 2.157108
XDR 0.823023
XOF 662.125411
XPF 119.331742
YER 285.707797
ZAR 19.153443
ZMK 10787.225649
ZMW 23.632299
ZWL 385.891804
  • CMSC

    -0.0396

    23.74

    -0.17%

  • SCS

    0.0200

    16.14

    +0.12%

  • CMSD

    -0.0650

    24.095

    -0.27%

  • RIO

    2.1190

    92.589

    +2.29%

  • GSK

    0.5150

    50.835

    +1.01%

  • BTI

    1.1300

    60.12

    +1.88%

  • BCC

    -1.9500

    81.45

    -2.39%

  • NGG

    1.8700

    84.45

    +2.21%

  • BP

    0.7850

    37.545

    +2.09%

  • AZN

    1.1900

    95.42

    +1.25%

  • RYCEF

    0.1500

    17.15

    +0.87%

  • RBGPF

    -0.8300

    82.4

    -1.01%

  • BCE

    0.3300

    25.48

    +1.3%

  • JRI

    -0.0440

    13.686

    -0.32%

  • RELX

    -1.2200

    38.29

    -3.19%

  • VOD

    0.2590

    14.489

    +1.79%

China, future HQ: New ASML boss faces bulging in-tray
China, future HQ: New ASML boss faces bulging in-tray / Photo: EMMANUEL DUNAND - AFP

China, future HQ: New ASML boss faces bulging in-tray

Frenchman Christophe Fouquet takes the reins of Dutch chip giant ASML on Wednesday with a daunting to-do list, top of which will be steering business with China as semiconductors become a geopolitical battleground.

Text size:

ASML's strategic importance in manufacturing machines to make ultra-thin microchips that power much of the world's advanced technology has given it a role far beyond the commercial.

Fouquet will have to navigate choppy political waters as Western powers led by the United States want to crimp Chinese access to such technology fearing it could be used for weapons.

Analysts do not expect a radical shift for ASML under Fouquet -- after a 16-year career at the firm, he was the continuity candidate to replace current CEO Peter Wennink.

"There should be no expectations that I will be turning the tables. I think that what we have been working on for many, many years is still what we want to achieve with ASML," said Fouquet when appointed.

Patting him affectionately on the arm in a corporate video, Wennink said of his 50-year-old successor: "He's been with the company for so long and he knows all our customers, suppliers, people, shareholders."

"He's a known entity."

Born in 1973, Fouquet studied physics in the southeastern French city of Grenoble, giving him the strong theoretical skills required to run a tech company of ASML's stature.

After stints at semiconductor firms KLA Tencor and Applied Materials, he joined ASML in 2008, holding various positions in marketing and product management.

Fouquet spent years running the firm's EUV (extreme ultraviolet) programme of cutting-edge machines that print ultra-thin chips critical for the development of artificial intelligence.

And since 2022, he has been a key right-hand man for Wennink as vice-president and chief business officer.

"Insider Christophe Fouquet is continuity in the flesh," said specialist publication Bits&Chips.

"The Frenchman knows both the company and the industry like the back of his hand."

Simon Coles, ASML analyst at Barclays, told AFP: "I would not expect a change in direction. The new CEO helped set and plan the current strategy, so we'd expect to see a continuation."

- 'Little dark corner' -

Top of Fouquet's concerns will be China. In January, the Dutch government revoked licences for some of ASML's advanced machines, sparking fury in Beijing.

ASML's latest quarterly results showed China accounted for 49 percent of sales but overall orders were weaker than expected, sparking a slump in shares.

Fouquet has previously said it is "extremely difficult and extremely expensive" to decouple the industry's supply chain.

"It's a matter of time until people realise that the only way to be successful in semiconductors is through cooperation," he told financial news outlet Nikkei Asia last year.

"The idea that we could go back to a little dark corner and do it all alone is most probably a very challenging concept."

Closer to home, Fouquet will inevitably become embroiled in a domestic political debate about the future of ASML's headquarters in Veldhoven, seen as the Dutch "Silicon Valley".

After far-right leader Geert Wilders won elections on a pledge to halt immigration, Wennink ruffled feathers by warning that ASML could look elsewhere if it could not find talented immigrant staff.

The Dutch government then unveiled "Operation Beethoven", a charm offensive worth 2.5 billion euros ($2.6 billion) designed to keep companies like ASML in the Netherlands.

"ASML is our (Argentine striker Lionel) Messi and such a star player brings a whole team along with them," said Economy Minister Micky Adriaansens when presenting the plan.

The firm and the region around Veldhoven are exploring plans to house around 20,000 employees in the area despite a growing Dutch outcry about expats hogging housing in a crowded Netherlands.

Fouquet is the second Frenchman to run the Dutch firm, after Eric Meurice, and trade publication Bits&Chips said his nationality could cut both ways.

While he could be at a disadvantage dealing with Dutch politicians, "his French origins could help on the international stage, on which geopolitical storms continue wreaking havoc", it wrote.

"France stands for a proud and self-confident Europe, so when it comes to curbing American interference, such as export measures, the new ASML CEO will invariably find the French president on his side."

(Y.Berger--BBZ)