Applied Materials adds Qualcomm's CFO and COO to its board

Applied Materials, Inc. (Nasdaq: AMAT) announced the appointment of Akash Palkhiwala to its board of directors, according to a press release dated Aug. 27, 2026.

Palkhiwala currently serves as both Chief Financial Officer and Chief Operating Officer of Qualcomm Incorporated. He has held the CFO role at Qualcomm since 2019 and was appointed COO in 2024. In those roles, he oversees the finance organization, global go-to-market teams, semiconductor operations, and IT.

Palkhiwala joined Qualcomm in 2001 and has held various finance leadership positions throughout his tenure. Prior to Qualcomm, he worked as a private equity analyst at KeyBank.

In addition to his board seat, Palkhiwala has been appointed to Applied Materials' Audit Committee.

Tom Iannotti, Chairman of the Board, commented on the appointment: "His track record of leadership in finance and decades of experience in the semiconductor industry will add to the strength of Applied Materials' board and serve us well in our next phase of growth."

Palkhiwala holds an undergraduate degree in mechanical engineering from L.D. College of Engineering in India and an MBA from the University of Maryland.

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