Bren D. Higgins
Summary
Bren D. Higgins has been KLA’s executive vice president and chief financial officer since August 2013 after spending more than a decade in the company’s finance, planning and investor-relations functions.
Biography
Higgins joined KLA in 1999 and held several finance positions, including product-division controller, group controller for the wafer-inspection business, senior director of financial planning and analysis, and senior director of corporate finance. He became vice president of corporate finance in January 2012, overseeing treasury, investor relations and support for business-development activities. Higgins was appointed CFO in August 2013. In his current role, he oversees finance and accounting as well as functions that include manufacturing, logistics, supply chain, business development, workplace services, information technology and investor relations. He earned a bachelor’s degree from the University of California at Santa Barbara and an MBA with a finance concentration from the University of California at Davis.
Notable achievements
- Built a long internal finance career before becoming CFO, providing detailed knowledge of KLA’s product groups and operating organization.
- Helped manage the financial integration and funding of KLA’s Orbotech acquisition.
- Oversaw finance and capital-allocation processes during periods of strong cash generation and expanding service revenue.
- Supported KLA’s dividend increases and large-scale share-repurchase program.
- Maintained the company’s financial reporting and controls as KLA expanded its global operations and product portfolio.
Problem areas / controversies
- KLA’s finance organization must manage significant exposure to China, where export-control changes can affect revenue, receivables, licenses and customer commitments.
- The company’s results remain sensitive to semiconductor capital-spending cycles, inventory corrections and fluctuations in demand for memory, foundry and logic equipment.
- KLA has disclosed that increasingly complex and sometimes conflicting global trade regulations create compliance and execution risks.
- No major personal controversy involving Higgins is prominent in recent public filings; the main issues associated with his role are company-wide financial, regulatory and cyclical risks.