KLA Corporation Announces Robert Calderoni as New Chair of the Board
MILPITAS, Calif., Nov. 2, 2022 /PRNewswire/ -- KLA Corporation (NASDAQ: KLAC) today announced that its Board of Directors has appointed Robert Calderoni as chair effective immediately. Calderoni will succeed Edward "Ned" Barnholt whose term has ended, having served as Board Chair since 2006.
Calderoni has held a seat on the KLA Board as an independent director since 2007. A highly respected leader, he has more than 30 years of executive experience in the technology industry. Calderoni was most recently the interim president and chief executive officer at Citrix Systems prior to its acquisition in September 2022. Previous roles have included chief executive officer at Ariba, Inc., president of SAP AG's cloud business, and chief financial officer of Avery Dennison. Earlier in his career, he held senior financial roles at Apple and IBM.
"I feel extremely privileged to take on this role and contribute to shaping KLA's future," said Calderoni. "I look forward to continuing to work alongside fellow Board members and the executive team to support and drive KLA's long-standing leadership in the global semiconductor and electronics manufacturing industry and help continue to deliver sustainable profitability and long-term value to stakeholders."
"We are thrilled that Bob is stepping in to lead KLA's Board of Directors," said Rick Wallace, president and CEO of KLA Corporation. "A highly regarded corporate leader with global operational perspective, Bob's deep understanding of the technology ecosystem has been invaluable during his tenure as a KLA board member and will be instrumental in advancing our strategic goals."
"On behalf of the management team and employees, I want to thank Ned for his leadership as chair," said Wallace. "Ned has led this Board and executive management team through challenging times to record revenue and profits, and he leaves us with a strong foundation for continued growth."
KLA develops industry-leading equipment and services that enable innovation throughout the electronics industry. We provide advanced process control and process-enabling solutions for manufacturing wafers and reticles, integrated circuits, packaging, printed circuit boards and flat panel displays. In close collaboration with leading customers across the globe, our expert teams of physicists, engineers, data scientists and problem-solvers design solutions that move the world forward. Investors and others should note that KLA announces material financial information including SEC filings, press releases, public earnings calls and conference webcasts using an investor relations website (ir.kla.com). Additional information may be found at: www.kla.com.
Statements in this press release other than historical facts are forward-looking statements and subject to the Safe Harbor provisions created by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current information and expectations and involve a number of risks and uncertainties. Actual results may differ materially from those projected in such statements due to various factors, including but not limited to: the impact of the COVID-19 pandemic on the global economy and on our business, financial condition and results of operations, including the supply chain constraints we are experiencing as a result of the pandemic; economic, political and social conditions in the countries in which we, our customers and our suppliers operate, including rising inflation and interest rates, Russia's invasion of Ukraine and global trade policies; disruption to our manufacturing facilities or other operations, or the operations of our customers, due to natural catastrophic events, health epidemics or terrorism; ongoing changes in the technology industry, and the semiconductor industry in particular, including future growth rates, pricing trends in end-markets, or changes in customer capital spending patterns; our ability to timely develop new technologies and products that successfully anticipate or address changes in the semiconductor industry; our ability to maintain our technology advantage and protect our proprietary rights; our ability to compete with new products introduced by our competitors; our ability to attract, onboard and retain key personnel; cybersecurity threats, cyber incidents affecting our and our customers, suppliers and other service providers' systems and networks and our and their ability to access critical information systems for daily business operations; liability to our customers under indemnification provisions if our products fail to operate properly or contain defects or our customers are sued by third parties due to our products; exposure to a highly concentrated customer base; availability and cost of the wide range of materials used in the production of our products; our ability to operate our business in accordance with our business plan; legal, regulatory and tax environments in which we perform our operations and conduct our business and our ability to comply with relevant laws and regulations; increasing attention to environmental, social and governance matters and the resulting costs, risks and impact on our business; our ability to pay interest and repay the principal of our current indebtedness is dependent upon our ability to manage our business operations, our credit rating and the ongoing interest rate environment, among other factors; instability in the global credit and financial markets; our exposure to currency exchange rate fluctuations, or declining economic conditions in those countries where we conduct our business; changes in our effective tax rate resulting from changes in the tax rates imposed by jurisdictions where our profits are determined to be earned and taxed, expiration of tax holidays in certain jurisdictions, resolution of issues arising from tax audits with various authorities or changes in tax laws or the interpretation of such tax laws; and our ability to identify suitable acquisition targets and successfully integrate and manage acquired businesses. For other factors that may cause actual results to differ materially from those projected and anticipated in forward-looking statements in this press release, please refer to KLA Corporation's Annual Report on Form 10-K for the year ended June 30, 2022, and other subsequent filings with the Securities and Exchange Commission (including, but not limited to, the risk factors described therein). KLA Corporation assumes no obligation to, and does not currently intend to, update these forward-looking statements.
SOURCE KLA Corporation
Released November 2, 2022