Applied Materials, Inc. announced that George S. Davis, executive vice president and chief financial officer (CFO), will be departing the company effective March 8, 2013. The company expects to name a successor in the coming weeks after a review of both internal and external candidates. Davis will be taking up the position of CFO for Qualcomm Inc.

"Over the past 13 years, George has made tremendous contributions to Applied Materials as we have grown and diversified our global business," said Mike Splinter, chairman and CEO. "His leadership has made a key contribution to the financial results we have delivered throughout his tenure and to the positive relationship with our stockholders. We wish him every success."

Davis joined Applied Materials in 1999 as corporate treasurer. He was named CFO in 2006 after serving as head of the Corporate Business Development group, where he was responsible for merger and acquisition activities, strategic planning and management of the company's venture investments.