San Jose, CA, June 14, 1999 - KLA-Tencor Corp. (Nasdaq: KLAC) announced today that effective July 1, 1999, its long time president and chief operating officer (COO) Ken Schroeder will assume the role of chief executive officer-succeeding KLA founder Ken Levy, who steps up to chairman of the board. Levy replaces the company's retiring chairman, Jon Tompkins, who will continue to serve on KLA-Tencor's board along with Levy, Schroeder and the current outside directors.
Levy reports that these transitions are part of the company's strategic succession plan designed to optimize KLA-Tencor's leadership for the new millennium. "As we continue to grow and expand in sync with our customers' changing needs, we are evolving our organization and developing the leaders of the future. Ken Schroeder, who has spent the past several years working closely with me in preparation for this transition, is ideally suited to drive our strategic expansion as we prepare to take our company and industry to the next level."
Levy added that although Tompkins' leadership will be missed, he leaves the company in the strongest position of its history. "Jon helped broaden our vision and was instrumental in assuring the success of our merger. Together, we created the world's largest yield management company and fueled KLA-Tencor's rapid ascent to one of the top five semiconductor equipment companies in the world. We're pleased that we will continue to benefit from his strategic guidance as an ongoing member of our board."
According to Levy, Schroeder's contributions over the years also speak for themselves. "In addition to playing a vital role in driving the company's growth from $150 million to more than $1 billion, Ken Schroeder has been the chief architect of the engineering, marketing and customer support strategies that continue to drive KLA-Tencor's success. It's a pleasure to be able to hand the reins over to someone that I have worked with for so long and in whom I have such confidence."
Commenting on his new role, Schroeder noted that he would continue to focus on executing the strategies needed to achieve the company's long-term vision. "My emphasis has always been on building a world-class team and I look forward to working closely with this team to deliver the complete, yield optimization strategies our global customers need to remain competitive and profitable."
A 30-year veteran of the electronics industry, Schroeder has spent more than 15 years with KLA-Tencor. He first joined KLA Instruments in 1979 as vice president of operations. He departed the company in 1987 to pursue other interests and later returned in 1991 to assume the role of president and COO. In addition to his experience at KLA-Tencor, Schroeder has held a number of top management positions including operations manager for Hewlett-Packard's Computer Group, general manager of the Construction Systems Division of Spectra-Physics and president and COO of Genus, Inc.
Schroeder currently serves on the board of directors of SEMI, KLA-Tencor and GaSonics International. In 1994 and 1995, VLSI Research named him a "Most Valuable Executive" in its annual list of outstanding contributors in the semiconductor capital equipment industry. In 1998, the University of Wisconsin also recognized Schroeder with the Distinguished Service Award from its College of Engineering. Schroeder earned his bachelor's degree in electrical engineering from the University of Wisconsin in 1967 and a master's degree in business from the Wharton School of the University of Pennsylvania in 1969.
About KLA-Tencor: KLA-Tencor is the world leader in yield management and process control solutions for semiconductor manufacturing and related industries. Headquartered in San Jose, Calif., the company has sales and service offices around the world. An S&P 500 company, KLA-Tencor is traded on the Nasdaq National Market under the symbol KLAC.
Copyright © 2001 KLA-Tencor Corporation. All rights reserved. Important Notices.