TOKYO (Reuters) -Japan chip test equipment company Advantest Corp said on Wednesday its Chief Operating Officer Douglas Lefever, a U.S. citizen, will become CEO from April, with current Chief Executive Yoshiaki Yoshida becoming chairman. Lefever, who became COO in January 2023 and previously served as CEO of Advantest America, joins a select group of foreign leaders of companies in Japan, which is known for its hierarchical and codified corporate culture. He takes the helm at Advantest at a time of growing investor anticipation about the boost chip equipment makers may receive from investment in artificial intelligence, with the company's shares up 44% year-to-date.
Here is how Advantest Corp. (ATEYY) and Meta Platforms (META) have performed compared to their sector so far this year.