Peter Wennink

Peter Wennink
Birthplace	Netherlands
Nationality	Dutch
Occupation	Business executive, advisor
Title	Former President and CEO, ASML
Employer	ASML (former)
Known for	CEO of ASML (2013–2024)

Peter Wennink is a Dutch business executive who served as the president and chief executive officer of ASML Holding N.V., the world's leading manufacturer of photolithography systems used in the production of semiconductor chips. During his tenure as CEO from 2013 to 2024, ASML consolidated its position as one of the most strategically important technology companies in the global semiconductor supply chain, holding a monopoly on the production of extreme ultraviolet (EUV) lithography machines essential for manufacturing the most advanced microprocessors. Since stepping down from ASML, Wennink has emerged as a prominent voice in Dutch industrial and innovation policy, producing a government-commissioned report in 2025 on the future of the Netherlands' investment climate and technological competitiveness. Described by Dutch technology media as a "Dutch tech legend," Wennink has continued to advocate for deep technology investment and structural economic reform in the Netherlands and Europe.

Career

ASML

Peter Wennink spent much of his career at ASML, the Veldhoven-based semiconductor equipment manufacturer. He served as the company's chief financial officer before being appointed president and CEO in 2013. Under his leadership, ASML became one of Europe's most valuable technology companies. The firm's central product — the EUV lithography machine — became indispensable for the production of the world's most advanced semiconductor chips, placing ASML at the nexus of global technology competition between the United States, Europe, and China. Wennink led the company through a period of rapid revenue growth and increasing geopolitical significance, as governments worldwide recognized the strategic importance of semiconductor manufacturing equipment.

Wennink stepped down as CEO of ASML in 2024, concluding a tenure that saw the company grow into a cornerstone of the global semiconductor industry. His departure marked the end of a leadership era during which ASML's market capitalization rose substantially, and the company became a frequent subject of discussion in international trade policy debates, particularly regarding export controls on advanced chip-making technology to China.

Post-ASML Advisory Role

Following his departure from ASML, Wennink assumed a role as a public figure in Dutch economic and innovation policy. In September 2025, Dutch Minister of Economic Affairs Vincent Karremans asked Wennink to produce an independent advisory report on how to improve the Netherlands' investment climate. The commission reflected the Dutch government's concern about maintaining the country's competitiveness in the global technology sector and the broader economic challenges facing the Netherlands and Europe.

Wennink delivered the report in December 2025. The document presented a comprehensive analysis of the obstacles facing the Dutch economy and technology sector, and it contained a series of recommendations aimed at reviving industrial growth and ensuring long-term prosperity. In the report, Wennink argued that "without a leap in productivity, targeted tech investments, and a different management culture, Dutch prosperity will erode." The report was framed as a warning that the Netherlands could not afford political drift or complacency in the face of accelerating global technological competition.

Among the key findings of the report was that an estimated €126 billion in Dutch technology projects were being blocked by permitting delays and electricity grid limitations. Wennink proposed deregulation as a central remedy, arguing that excessive bureaucratic processes were stifling innovation and investment in the Dutch technology sector. This recommendation drew both support and criticism. Academics and government advisors raised concerns about the potential consequences of deregulation, warning that relaxing permitting requirements could have environmental and social implications.

The report also recommended the establishment of a new Dutch innovation agency, drawing comparisons to the United States' Defense Advanced Research Projects Agency (DARPA). This proposal was seen as a step toward creating a "Dutch DARPA" — an agency that would direct funding toward high-risk, high-reward research and development projects in areas of strategic importance. The recommendation reflected a broader European debate about whether government-backed innovation agencies could help close the technology gap with the United States and China.

Wennink's report was received with considerable attention in Dutch political and industrial circles. The former ASML CEO warned that the Netherlands faced "tough choices" to secure its future prosperity, arguing that maintaining the country's standard of living — including healthcare, education, and security — would require growing the economy and addressing underlying structural conditions. In a subsequent public response to criticism of the report, Wennink reiterated this position, stating that "anyone who wants to preserve prosperity, healthcare, education, and security must grow the pie and fix the underlying conditions."

Technology industry publication Bits&Chips characterized the report as significant but noted the difficulty of translating its recommendations into political action. In an editorial, the publication asked whether the Netherlands had "the stomach" for the kind of industrial revival Wennink proposed, acknowledging that "after years of political drift, Peter Wennink's call for an industrial revival sounds like music to high-tech ears" while questioning how far a growth-oriented agenda could realistically advance in the Dutch political landscape.

Public Speaking and Advocacy

In addition to his advisory work, Wennink has remained active as a public speaker on technology and innovation topics. In April 2025, it was announced that he would deliver a keynote address at the TNW Conference in Amsterdam in June 2025, where he was expected to share his vision for a "new era of deep tech." The conference organizers described the theme of his address as the idea that deep technology — referring to scientific and engineering advances with the potential to create entirely new industries — would "make the impossible possible."

Wennink's public advocacy has consistently emphasized the importance of long-term investment in fundamental science and technology, the need for Europe to develop its own strategic technological capabilities, and the urgency of removing regulatory and infrastructural barriers to innovation. His positions have placed him at the center of an ongoing debate in the Netherlands and Europe about how to balance economic growth, technological sovereignty, and social and environmental responsibility.

Legacy

Peter Wennink's legacy is closely tied to the global ascent of ASML during his tenure as CEO. Under his leadership, ASML became one of the most strategically important companies in the world, with its EUV lithography machines serving as a critical bottleneck in the production of advanced semiconductors. The company's position gave the Netherlands outsized influence in global technology supply chains and geopolitical discussions about semiconductor access.

Beyond his corporate legacy, Wennink's post-retirement work as an advisor to the Dutch government has positioned him as a central figure in the country's debate over its economic future. His December 2025 report catalyzed a national conversation about the Netherlands' investment climate, the role of regulation in enabling or hindering technological development, and the need for a coherent industrial strategy. The report's recommendation for a Dutch DARPA-style innovation agency was described by Science|Business as a concrete step toward a model that several European countries had been exploring.

The reception of Wennink's report underscored both his credibility within Dutch industry and the political complexity of implementing his proposals. Innovation Origins described the report as showing "urgency" and "discomfort," framing it as a document that challenged political leaders to confront uncomfortable truths about the country's trajectory. Whether the Netherlands acts on Wennink's recommendations remains an open question, but his intervention has ensured that questions of technological investment, deregulation, and industrial policy occupy a prominent place in Dutch public discourse.

Wennink's influence extends beyond the Netherlands. As the former head of a company whose products are essential to the operations of every major chipmaker in the world — including TSMC, Samsung Electronics, and Intel — his views on technology policy, supply chain resilience, and innovation carry weight across the global semiconductor industry and among policymakers in multiple countries.