TOKYO--Tokyo Electron Limited (TEL), announced Tuesday the following management changes.

Effective January 1, 2005, Mr. Tetsuro Higashi, the current chairman of TEL, will become chairman & chief executive officer (CEO), and Mr. Kiyoshi Sato, the current president & CEO of TEL, will become president & chief operating officer (COO). Mr. Mamoru Hara, who is currently corporate director & executive vice president, will resign as EVP and become corporate director on March 31, 2005.

In fiscal year 2004, which began in April 2003, as part of its Business Structural Reforms Phase I under the leadership of President Sato and Executive Vice President Hara, the Tokyo Electron Group began consolidating production facilities, reducing inventories and workforces in order to streamline and strengthen TEL's worldwide operations. TEL will continue to carry out these business structural reforms as it moves into Phase II. Executive Vice President Hara, who provided considerable contribution to the company during this time frame, will resign as EVP at the end of this current term. In Phase II, TEL views quality improvement as one of its top priorities, along with carrying out activities aimed at shortening production cycles and reducing costs in order to enhance TEL as a world-class semiconductor production equipment manufacturer.

To accomplish these goals, Chairman Higashi with his depth of management experience and knowledge, will become chairman & chief executive officer while working closely with President Sato.