Amkor CEO Steve Kelley leaves

  • Push-out Score determined
  • After about seven years in the position
  • Praise, thanks and good wishes for Kelley
  • Giel Rutten taking over

(exechange) — Tempe, Arizona, June 17, 2020 — Steve Kelley, chief executive of Amkor, leaves — as “mutually agreed.” As announced by Amkor Technology Inc. in a news release and in a regulatory filing published on Wednesday, June 17, 2020, Stephen D. (Steve) Kelley leaves his post as chief executive officer at the semiconductor product packaging and test services provider after about seven years in the role, effective immediately.

Steve Kelley’s duties as CEO will be taken over by Giel Rutten, most recently executive vice president of Amkor Technology Inc.

Amkor has already removed the name of Kelley as chief executive officer from the leadership page on its website and lists Giel Rutten as President & Chief Executive Officer.

“Now is the time for a leadership change”

Steve Kelley’s departure from the CEO post is explained as follows. James J. Kim, Amkor’s executive chairman of the board of directors, said: “We mutually agreed that now is the time for a leadership change, and I wish Steve continued success in the future.”

Precise information regarding Steve Kelley’s future plans was not immediately available.

“Leaving/ceased serving”

Amkor said that Giel Rutten “succeeds Steve Kelley, who is leaving after more than seven years of valuable service to Amkor.”

Amkor further said: “On June 17, 2020, the Board of Directors (the “Board”) of Amkor Technology, Inc. (the “Company”) appointed Giel Rutten as President and Chief Executive Officer and elected Mr. Rutten as a Director, and Mr. Stephen D. Kelley ceased serving as the Company’s President and Chief Executive Officer and member of the Board.”

Share price increase since June 2015

The announcement follows an increase in Amkor Technology Inc.’s share price of 103% since June 2015.

Chaired by James J. Kim

Amkor Technology Inc. is chaired by James J. Kim.

James J. Kim was appointed as Executive Chairman of the Board of Directors in October 2009.

In the position of CEO since 2013

Steve Kelley became CEO of the Company in 2013.

Stephen D. Kelley joined Amkor in May 2013 as President and Chief Executive Officer and was also a member of the Company’s Board of Directors.

Kelley has more than 30 years of experience in the global semiconductor industry, including as Executive Vice President and Chief Operating Officer of Cree from 2008 to 2011, and in executive roles at Texas Instruments and Philips Semiconductors.

He has also held various managerial positions at National Semiconductor and Motorola.

Prior to joining Amkor, Kelley served as Senior Advisor to Advanced Technology Investment Company, the Abu Dhabi-sponsored investment company that owns GlobalFoundries, until December 2012.

Kelley holds a Bachelor’s degree in Chemical Engineering from Massachusetts Institute of Technology and a J.D. from Santa Clara University.

Push-out Score determined

The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.

exechange reached out to Amkor and offered the company the opportunity to comment on the score.

Read the full story in the exechange report 25.2020 ($).