IPG Photonics Appoints Veeco Instruments CEO John Peeler to Board of Directors
OXFORD, Mass.--(BUSINESS WIRE)--
Photonics Corporation (NASDAQ: IPGP) today announced that John R.
Peeler, Chairman and Chief Executive Officer of Veeco
Instruments, Inc. (NASDAQ: VECO), has joined the IPG Photonics Board
of Directors. The addition of Mr. Peeler, who will serve on IPG's
Compensation Committee, temporarily expands the IPG Board to 10 members
until the 2013 annual meeting of shareholders. The Company also
announced that William F. Krupke, Ph.D. will not stand for reelection at
the 2013 annual meeting of shareholders.
"The addition of John will further diversify the outstanding talents and
wide-range of experience of our current Board," said Dr. Valentin
Gapontsev, IPG's founder and Chief Executive Officer. "John has deep
experience in managing high-growth technology companies and a wealth of
knowledge about the service needs of customers in demanding markets,
including semiconductor capital equipment. We look forward to working
with John as we continue to expand the presence of our products and
technology around the world. On behalf of the entire Board, I also want
to thank Dr. Krupke for his 12 years of service, guidance and dedication
to the Company and its stockholders."
Mr. Peeler joined Veeco as CEO in July 2007 and was named Chairman of
the Board in May of 2012. Veeco is a global market leader in MOCVD,
Molecular Beam Epitaxy, Ion Bean and other advanced thin film
technologies, and its equipment is used to manufacture LEDs, power
electronics, hard disk drives and wireless semiconductors. Mr. Peeler
spent his early career in engineering, marketing and product development
in the communications test equipment industry. He became President and
CEO of TTC in 1992, and through organic growth and a series of
acquisitions, he grew the company into the largest global provider of
field service communications test products. The company evolved into
Acterna, which was acquired by JDSU in 2005. Mr. Peeler earned a B.S.
and Masters Degree in Electrical Engineering and graduated with high
distinction from the University of Virginia.
About IPG Photonics Corporation
Photonics Corporation is the world leader in high-power fiber lasers
and amplifiers. Founded in 1990, IPG pioneered the development and
commercialization of optical fiber-based lasers for use in diverse
applications, primarily materials
processing. Fiber lasers have revolutionized the industry by
delivering superior performance, reliability and usability at a lower
total cost of ownership compared with conventional lasers, allowing end
users to increase productivity and decrease operating costs. IPG has its
headquarters in Oxford, Massachusetts, and has additional plants and
offices throughout the world. For more information, please visit www.ipgphotonics.com.
David Calusdian, 617-542-5300
Source: IPG Photonics Corporation
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