Amkor Technology CEO Giel Rutten will retire at the end of the year, setting the stage for a new executive as the company prepares for a major expansion in Arizona .

Rutten said in an Oct. 27 earnings call that he would remain on the company's board "to provide continuity and to support our long-term strategy." He will be succeeded by Kevin Engel, who currently serves as the company's chief operating officer.

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