On August 26, 2019, Stephen G. Newberry, a member of the board of directors and the chairman of the board of Lam Research Corporation notified the company that he is retiring from his positions with the company effective as of the close of business on November 4, 2019. Following Mr. Newberry's retirement, Abhijit Y. Talwalkar, who currently serves as the company's lead independent director, will become chairman of the Board (contingent on Mr. Talwalkar's re-election as a director at the 2019 annual meeting of stockholders) and there will be no lead independent director position. In addition, on August 21, 2019, Christine A. Heckart, a member of the board, notified the company that she is resigning from her position with the company effective as of the close of business on November 4, 2019.