ASML Enlists Former French Finance Minister Le Maire to Bolster European Chip Industry
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Dutch semiconductor equipment giant ASML has appointed former French Finance Minister Bruno Le Maire as an advisor to its executive board, ASML spokesperson said Thursday. The move reflects ASML's commitment to strengthening Europe's broader semiconductor industry.
"We believe that substantial investments in the European semiconductor ecosystem are necessary to strengthen its position in the global semiconductor value chain," the spokesperson stated, as reported by Reuters. "We recognise this mission is to be accomplished in a dynamic geopolitical and economic environment and, therefore, seek high-level advice on a consistent basis."
Le Maire, who served as France's Finance Minister until September, will assume his role on January 1, advising ASML's executive team including new CEO Christophe Fouquet, also French.
ASML, the world's leading manufacturer of equipment used in chip production, has been navigating a complex geopolitical landscape. US restrictions on ASML's exports to China, initiated under former President Donald Trump and expanded under President Joe Biden, have highlighted the strategic importance of the semiconductor sector. Le Maire's experience in navigating international trade relations and his commitment to bolstering Europe's industrial capacity are likely to be valuable assets for ASML as it seeks to enhance Europe's position in the global semiconductor value chain.
Le Maire's recent efforts to promote European industrial interests against Chinese competition, exemplified by his call for Europe to "show its teeth" in April, underscore his commitment to strengthening European competitiveness. ASML itself has recently abandoned plans to significantly expand operations outside the Netherlands following a Dutch government pledge of €2.5 billion in infrastructure investment in the Eindhoven region, where ASML is based. ASML and other companies have also committed to contributing €200 million to support this program.