Cymer COO to Leave Post

Pascal Didier is stepping down for health reasons.
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Cymer

(CYMI)

said President and Chief Operating Officer Pascal Didier is stepping down for health reasons, and he will become a strategy adviser to the company starting Sept. 6.

The San Diego-based company, whose products are used in making semiconductors, named Edward J. Brown Jr. as president and COO. Brown was previously with

Applied Materials

(AMAT) - Get Report

, where he started in 1984.

Most recently he was a group vice president and senior adviser to the president at Applied.

According to Cymer's Web site, Didier has served as president and COO since May 2000. He was senior vice president of worldwide customer operations from November 1997 until May 2000, and he had the title of vice president of sales and marketing from July 1997, when he joined the company, until November of that year.

In a regulatory filing, Cymer said Brown will receive a base salary of $375,000 and will be eligible to participate in the company's incentive bonus plan and three-year bonus program. He will also be paid a relocation bonus of $159,000.

Once he starts his job, Brown will get options to buy 250,000 common shares at an exercise price equal to the fair market value of the stock that day.