OXFORD, Massachusetts, April 25, 2006 -- IPG Photonics Corporation today announced that Henry E. Gauthier, the former chairman and chief executive officer of Coherent, Inc., has joined the IPG Board of Directors. Mr. Gauthier helped to build Coherent, Inc. into the premier laser manufacturing company in the industry.
"I am very pleased to welcome such an experienced and renowned laser industry executive to IPG's Board," said Dr. Valentin Gapontsev, IPG's founder and chief executive officer. "Hank helped grow Coherent from an $8 million company to a $375 million worldwide leader in laser technology. His vast knowledge of the laser business and his tremendous success in growing Coherent will be invaluable as we take IPG to the next level."
"IPG has impressive fiber laser technology and has been very successful in bringing its innovative laser products to market," said Mr. Gauthier. "I look forward to leveraging my experience and skills as the IPG team grows the company."
Mr. Gauthier joined Coherent in 1973 as vice president of marketing when the ophthalmic and surgical laser manufacturing company's revenues were approximately $8 million. He was promoted to general manager in 1974, chief operating officer in 1980, and president, chief executive officer and director in 1983. He retired in 1996, with the company's annual revenue at $375 million. He subsequently served as chairman of Coherent's Board of Directors until 2002 and remained on its Board as vice chairman until he retired in March 2006. Mr. Gauthier has been chairman of Reliant Technologies, Inc., a maker of aesthetic medical laser systems, since May 2005, and a member of the Board of Directors of Alara, Inc. since 1997. In 2002, he received the "Distinction in Photonics Award" for "many years of dedicated service and leadership in the photonics community."
The addition of Mr. Gauthier and another recently appointed director expands the IPG Board to nine, and increases the number of independent members to five. He will serve on IPG's audit and compensation committees.
About IPG Photonics
IPG Photonics is the number one designer, manufacturer and seller of unique fiber lasers and amplifiers and diode lasers that enable a growing number of applications in the materials processing, telecom, medical, aerospace, government and scientific markets. Founded in 1991, IPG has been a pioneer in cladding-pumped optical fiber devices, a revolutionary technology that provides superior performance, reliability and ease-of-use over conventional lasers and mechanical production methods, allowing end-users to increase productivity, lower operating costs and accomplish more. Headquartered in Oxford, Massachusetts, IPG has plants in Germany, Russia and Italy, and regional offices in Japan, Korea, India, China and Britain. www.ipgphotonics.com. IPGP-G
Tim Mammen, Chief Financial Officer
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