ASML: we should have disclosed IP theft ourselves

It would have been better if ASML had disclosed the XTAL incident itself, admitted ASML CEO Peter Wennink yesterday at the general meeting of shareholders, report several media that were present at the event. Since there was no evidence of Chinese government involvement and the damage was very limited, the board of directors deemed sending out a statement unnecessary. Given the uneasiness and mistrust between China and the West, though it used to be not as strong at the time of the incident, communicating about it would have been better, Wennink said.

ASML also admitted its IT security policies were not up to par a few years back. Gerard Kleisterlee, chairman of the board, attributed this partly to the rapid growth the company has been experiencing while retaining its original culture of trust. ASML currently spends five times as much on IT security, Wennink disclosed.