Former ASML CEO criticises US-China chip disputes

Wennink expressed concern that these ideological conflicts disrupted the balance of stakeholder interests and forecasted that geopolitical tensions could persist for decades.
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The former CEO of ASML, the known semiconductor equipment maker, criticised the US-China chip disputes as ideological rather than fact-based. Peter Wennink, who retired in April after a decade at ASML, stated that the US imposed ongoing restrictions on exporting tools to China since 2018, driven by ideology rather than practical considerations. These restrictions have affected ASML’s ability to serve its Chinese market, which is second only to Taiwan.

During his tenure, Wennink sought to balance stakeholders’ interests by lobbying against overly strict export controls and addressing intellectual property concerns with Chinese officials. He emphasised that ASML has long served in China, creating obligations towards its customers and staff. Despite perceptions that he might favour China, Wennink clarified that his loyalty lies with his company’s customers, suppliers, employees, and shareholders.

Predicting the future of the chip war, Wennink suggested that the geopolitical conflict could continue for decades, given the complex and deeply entrenched interests involved. He expressed concerns that ideological battles could undermine the balanced management of business interests.