Tokyo Tokyo Electron Limited (TEL) today announced plans to restructure its U.S. operations by creating a new holding company to be named Tokyo Electron U.S. Holdings, Inc.

The new company will oversee various U.S. subsidiaries, including Tokyo Electron America (TEA), based in Austin, Texas; Tokyo Electron Massachusetts (TEM), based in Beverly, Massachusetts; TEL Technology Center, America (TTCA), based in Albany, New York; and Tokyo Electron Arizona (TAZ), based in Gilbert, Arizona.

Barry R. Mayer, senior vice president and chief financial officer for Tokyo Electron America has been promoted to President and COO of the new holding company. Ken Sato, president and CEO of TEL, will also serve as chairman and CEO of the new entity. Mayer has been with TEA since its inception in 1994, and brings more than 25 years of management experience in the semiconductor, healthcare and oil and gas industries.

Tokyo Electron U.S. Holdings' main mission will be to provide overall financial management, administration support and guidance to the U.S. subsidiaries, in addition to managing TEL corporate activities performed in the U.S.

Additionally, TEL announced the promotion of Barry R. Rapozo to the position of chairman and CEO of Tokyo Electron America. Rapozo, a thirty-five year veteran of the semiconductor industry, has been president of TEA since 1997. He will also serve as vice chairman of the U.S. holding company.

Harvey Frye, senior vice president marketing and sales for Tokyo Electron America, has been promoted to the position of president and COO of Tokyo Electron America. Frye, a thirty-year veteran of the semiconductor industry will assume overall management responsibility for TEA, the U.S. sales and service representative of TEL. His mission will be to further expand TEL market share in the U.S. and to enhance the company's customer support operations and strategies.

"I am very pleased to announce these promotions," Ken Sato said in a statement. "These three individuals have played key leadership roles in the overall growth and success of our U.S. operations. This restructuring will further enable us to focus on our core business while providing strong management support to our U.S. subsidiaries."