Cabot Microelectronics Names David Li To Succeed Noglows As President And CEO

(RTTNews) - Cabot Microelectronics Corp. (CCMP) announced Tuesday that its Board of Directors has elected David Li as president and chief executive officer and member of the Board, effective January 1, 2015.

Li succeeds William Noglows, who will continue to serve as executive chairman. Noglows has served for the past eleven years as the company's chairman, president and CEO since 2003.

"The Board and I are delighted that David will become Cabot Microelectronics' next CEO. As the head of our business in the Asia Pacific Region, where we generate more than 80 percent of our total company revenue and have approximately 75 percent of our production activity, David has developed deep partnerships with our key customers and proven to be an outstanding leader," Noglows said in a statement.

Li, age 42, is currently serving as Cabot's vice president of the Asia Pacific region. He now plans to split his time between Asia and the US, with his primary residence remaining in China.

Li has served for more than 15 years in a wide-range of roles with Cabot, including eight years as the head of it Asia Pacific business. Li has also previously served as the global business director for Tungsten and Advanced Dielectrics, after holding several leadership positions in operations, sourcing and investor relations.

Prior to joining Cabot, Li held process engineering and marketing roles at UOP.

CCMP closed Monday's regular trading session at $45.26, down $0.67 on a volume of 0.14 million shares.