IPG Photonics Nominates Two New Candidates for Board of Directors
Eric Meurice and Thomas Seifert will Stand for Election at Company's
2014 Annual Shareholder Meeting on June 3
OXFORD, Mass.--(BUSINESS WIRE)--
IPG
Photonics Corporation (NASDAQ: IPGP) announced today the nominations
of Eric Meurice, 57, and Thomas J. Seifert, 50, to be elected to the
Company's Board of Directors at its 2014 annual meeting of shareholders
on June 3, 2014. Their nominations are in addition to the nomination of
the currently serving Board with the exception of current Director
William Krupke, who will not stand for re-election at the meeting. The
Board also voted to increase the size of the IPG Board of Directors to
10 members upon their election.
"Eric and Thomas both offer significant relevant experience to our Board
of Directors," said Dr. Valentin Gapontsev, CEO and Chairman of the
Board of IPG Photonics. "Eric is a strategic thinker and operator who
has experience managing a rapidly-growing, complex, global billion
dollar business in the capital equipment and electronic fields. Thomas
has extensive background working as an operating executive and chief
financial officer of several large publicly held international
technology businesses. The deep experience that both of these men will
bring to the Board are directly aligned with IPG's growth strategy."
"I also would like to thank Dr. Bill Krupke for his valuable
contributions during the past 13 years as a member of the IPG Photonics
Board of Directors. His knowledge and guidance have been valuable to the
Board and to the success of our Company," concluded Dr. Gapontsev.
Eric Meurice served as President and Chief Executive Officer of ASML
Holding NV, a provider of semiconductor manufacturing equipment and
technology, from October 2004 to June 2013, and as Chairman until March
2014. From 2001 to 2004, he was Executive Vice President of the Thomson
Television Division of Thomson SA, an electronics manufacturer. From
1995 to 2001, he served as head of Dell Computer's Western, Eastern
Europe and EMEA emerging market businesses. Before 1995, he gained
significant technology experience at ITT Semiconductor and at Intel
Corporation. Eric now serves on the board of NXP Semiconductors N.V. (a
semiconductor company). Mr. Meurice earned a Master's degree in
Mechanics and Energy Generation, at the Ecole Centrale de Paris, a
Master's degree in Economics from la Sorbonne University, Paris, and an
M.B.A. from Stanford University.
Thomas J. Seifert has been the Executive Vice President and Chief
Financial Officer of Symantec Corporation, a provider of security,
backup and availability solutions, since March 2014. He served as
Executive Vice President and Chief Financial Officer of Brightstar
Corporation, a wireless distribution and services company, from December
2012 to March 2014. He was Senior Vice President and Chief Financial
Officer at Advanced Micro Devices Inc., a semiconductor company, from
October 2009 to August 2012. From October 2008 to August 2009, Mr.
Seifert served as Chief Operating Officer and Chief Financial Officer of
Qimonda AG, a German memory chip manufacturer, and as Chief Operating
Officer from June 2004 to October 2008. He also held executive positions
at Infineon AG, White Oak Semiconductor, and Altis Semiconductor. Mr.
Seifert has a Bachelor's degree and a Master's degree in Business
Administration from Friedrich Alexander University and a Master's degree
in Mathematics and Economics from Wayne State University.
About IPG Photonics Corporation
IPG
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.
Sharon Merrill
Dennis Walsh, 617-542-5300
Vice President
Source: IPG Photonics Corporation
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