FREMONT (dpa-AFX) - Lam Research Corp. (LRCX), a manufacturer of semiconductor processing equipment, Wednesday announced that it has promoted Sesha Varadarajan to the role of Chief Operating Officer, effective March 6.
He will be succeeding Pat Lord, who will retire after more than two decades with Lam and Novellus.
Varadarajan, previously was the head of Lam's global product group.
Further, the company is appointing Anirudh Devgan, the current chief executive officer of Cadence Design Systems, Inc., to its board of directors.
In pre-market activity, LRCX shares were trading at $230.77, up 0.29% on the Nasdaq.
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