Semiconductor Giant ASML Has a New Boss, and a Big Problem

When Christophe Fouquet takes over as CEO of Europe’s most valuable tech company on April 24, he will inherit not only a single firm, but also the leadership of an entire industry responsible for a critical ingredient of modern life: chips.

Netherlands-based ASML makes one of the world’s most complex machines, used by chipmakers like Intel and TSMC to manufacture the advanced microchips required for the functioning of today’s smartphones, cars, and data centers. Fouquet will take over leadership of ASML’s 40,000 or so employees and manage a sprawling network of more than 5,000 specialist suppliers, such as Germany’s Zeiss and Trumpf, whose lasers and mirrors enable ASML’s machines to project minuscule patterns onto microchips small enough to be measured in nanometers (one millionth of a millimeter).

Fouquet, a 16-year ASML veteran, will have to maintain the company’s technological edge. Its most advanced machines have no competitors. “I have worked with Christophe for years, and look forward to continuing our great relationship as we deliver leading-edge lithography solutions,” says Ryan Russell, corporate vice president for Foundry Lithography Technology Development at Intel. But Fouquet, who has sold himself publicly as the continuity candidate, will also have to steer ASML through an escalating geopolitical power struggle revolving around chips.

“The company must manage its position at the center of technology tensions between China and the West,” says Chris Miller, author of Chip War: The Fight for the World’s Most Critical Technology. Fouquet declined to speak to WIRED for this story.

Those tensions became public in 2018, when the US began pressuring the Dutch government to prevent ASML’s technology from being sent to China, a major market for the company’s machines. By the following year, ASML was restricted from selling its most advanced extreme-ultraviolet lithography systems to Chinese clients. Instead of reversing that strategy, US president Joe Biden has expanded it, extending restrictions to ASML’s less advanced equipment. This year, the US stepped up pressure on the Dutch to stop ASML from even servicing tools it has already sold into China.

In