Applied Materials CFO Bob Halliday leaves post at short notice

  • Push-out Score suggests push-out forces
  • After almost five years on the job
  • Praise for Halliday
  • Dan Durn taking over

(exechange) — Santa Clara, California, July 24, 2017 — Bob Halliday, finance chief of Applied Materials, leaves the position. It is a change at short notice. As announced by Applied Materials, Inc. in a news release and in a regulatory filing published on Monday, July 24, 2017, Robert J. (Bob) Halliday leaves the post as chief financial officer at the maker of manufacturing equipment to the semiconductor industry in a surprising move after almost five years on the job, effective August 24, 2017.

Halliday’s move comes five months after Thomas J. Iannotti took over as chairman of Applied Materials, Inc.

Halliday is planning to retire towards the end of 2018.

Halliday’s duties are taken over by Dan Durn, currently chief financial officer at NXP Semiconductors N.V.

The fact that Halliday’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.

No reason given

In the announcement, Applied Materials did not explicitly explain the reason for Halliday’s imminent move, leaving room for speculation.

Halliday will remain in a new role focused on business development at Applied Materials

Bob Halliday will remain with the company “to support a smooth transition and move to a new role focused on business development,” Applied Materials said.

“Succeed”

Applied Materials said: “Mr. Durn will join the Company as Senior Vice President on August 7, 2017 and will succeed our current Chief Financial Officer, Robert J. Halliday.”

Share price rise since September 2015

The change follows a rise in the share price of Applied Materials, Inc. since September 2015.

Chaired by Thomas J. Iannotti

Applied Materials, Inc. is chaired by Thomas J. Iannotti.

Thomas J. Iannotti was elected Chairman of the Board of Directors of Applied Materials in March 2017.

CEO: Gary E. Dickerson

Gary E. Dickerson serves as CEO of Applied Materials, Inc. Gary Dickerson was named president of Applied Materials, Inc. in June 2012 and appointed chief executive officer and a member of the board of directors in September 2013.

On the job as CFO since 2013

Bob Halliday was named senior vice president and chief financial officer of Applied Materials, Inc. in February 2013.

He previously was executive vice president and chief financial officer of Varian Semiconductor Equipment Associates prior to Applied’s acquisition of the company in November 2011.

During his tenure, Varian achieved record financial and stock performance and he was named a top CFO by Institutional Investor magazine.

Since the acquisition of Varian, Halliday served as general manager of the implant business unit within Applied’s Silicon Systems Group.

He previously worked at Ionics, Inc., a manufacturer of water treatment capital equipment, where he served as chief operating officer and chief financial officer.

Halliday earned master of business administration and bachelor of science degrees from the Wharton School of the University of Pennsylvania and has been a Certified Public Accountant.

Push-out Score suggests push-out forces

It is not completely certain what forces eventually triggered Bob Halliday’s imminent move.

The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.

Read the full story in the exechange report 31.2017 ($).