IPG Photonics Nominates Two New Candidates for Board of Directors
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.
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