Applied Materials Gets Its CEO From Intel

Applied Materials Inc., the biggest maker of semiconductor manufacturing equipment, said it had named Intel Corp. veteran Michael Splinter as president and chief executive, laying to rest concerns over James Morgan’s successor.

Morgan will remain chairman of the Santa Clara, Calif.-based company. Splinter also succeeds Dan Maydan as president, who will be president emeritus and remain a member of the board.

Splinter worked at Intel for nearly 20 years and was most recently head of worldwide sales and marketing. Morgan ran Applied Materials for 27 years and is one of the chip industry’s most well-known and respected chief executives.