ASM International said Friday it would be parting ways with its chief financial officer following a failed boardroom coup aimed at unseating the chief executive at the loss-making Dutch semiconductor equipment group.

ASMI, which has spent years in dispute with activist shareholders calling for a break-up or management changes, said it would not nominate Naud van der Ven, chief financial officer, for reappointment when his four-year term expires at a shareholders’ meeting next month.