Applied Materials Names Qualcomm CFO Akash Palkhiwala to Board

Applied Materials has appointed Akash Palkhiwala to its board of directors and audit committee, effective August 27, 2026. Palkhiwala currently serves as the chief financial officer and chief operating officer of Qualcomm. He brings over two decades of financial and operational leadership within the global semiconductor sector. Tom Iannotti, chairman of Applied Materials, welcomed the appointment, stating that Palkhiwala's extensive industry track record will bolster the firm during its next phase of commercial growth.

Palkhiwala has built a highly successful career at Qualcomm since joining the company in 2001. He rose to become CFO in 2019 and assumed the dual role of COO in 2024. In these positions, he oversees Qualcomm’s financial organization, global sales teams, IT infrastructure, and chip manufacturing operations. Before his long tenure at Qualcomm, Palkhiwala worked as a private equity analyst at KeyBank. He completed his engineering studies at L.D. College of Engineering in Gujarat, India, before earning an MBA from the University of Maryland.

This governance appointment comes as Applied Materials intensifies its focus on materials engineering solutions for next-generation artificial intelligence chips. As semiconductor manufacturers race to deliver high-performance hardware, Palkhiwala's operational experience will help Applied Materials navigate complex supply chain dynamics. The move also highlights the prominent role of Indian-origin engineering talent in driving global semiconductor leadership. Investors expect his expertise to streamline corporate operations and strengthen strategic customer relationships in key Asian and global markets.