kla

One more dead: KLA's founder-chairman is the latest backdating casualty

Nick Douglas · 10/17/06 10:51AM

The founder and chairman of semiconductor equipment maker KLA-Tencor retired today over a stock option backdating scandal. Kenneth Levy (pictured) had been with the company for over 20 years. KLA will re-price backdated options that he and other KLA executives hold. The Wall Street Journal notes that a May article in that paper sparked the options probe.