Applied Materials Names New CFO

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Last month, in a game of C-level musical chairs, first Qualcomm (NASDAQ: QCOM  ) lost its chief financial officer when Bill Keitel stepped down, and then Applied Materials (NASDAQ: AMAT  ) lost its CFO, George Davis, when Qualcomm tapped him to replace Keitel.

With Davis expected to move to Qualcomm on March 8, Applied had to move fast to find a replacement, and this morning, it announced that it has found him -- right down the hall.

Today, Applied Materials announced that it's promoting former Varian Semiconductor CFO Bob Halliday (Applied bought Varian back in November 2011) to CFO of the parent company. Praising Halliday's "leading track record of accomplishment" at Varian, where he was named a top CFO by Institutional Investor magazine, Applied Materials Chief Executive Officer Mike Splinter expressed confidence that Halliday will be "an outstanding leader for our global finance team" at Applied.

Investors seem to agree. Applied Materials shares finished up 3% in Tuesday trading at $13.63.

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Rich Smith

I love things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well. Follow me on Twitter or Facebook for the most important developments in defense & aerospace news, and other great stories besides.

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