FormFactor Announces Organization Change With Resignation of President
January 04 2007 - 5:04PM
Business Wire
FormFactor, Inc. (Nasdaq:FORM) announced today that Joseph R.
Bronson, the company�s President and a member of the Office of the
Chief Executive, has decided to leave the company to pursue other
interests. Mr. Bronson also resigned from the Board of Directors of
the company. With Mr. Bronson�s departure, the company is changing
its management structure to eliminate the Office of the Chief
Executive. Dr. Igor Y. Khandros will continue to serve as the chief
executive officer of the company and will assume the
responsibilities previously handled by Mr. Bronson in the president
role. Mr. Bronson will continue to be available in a consulting
role to the company�s executive management following his
resignation. Mr. Bronson�s resignation is effective as of January
5, 2007. Dr. Khandros stated �The company expresses its thanks to
Joe Bronson for his past contributions and accomplishments. Joe,
who served as a company Board member since 2002, joined the company
in 2004 as its president to help better focus the company�s
business execution, financial performance, business infrastructure
and processes, and organizational development. During Joe�s tenure
the company significantly grew revenues, began executing an
infrastructure and processes roadmap to enable sustainable growth,
and implemented company-wide programs to develop and grow
organizations both domestically and overseas. All of us in the
company wish Joe well with his future endeavors.� Mr. Bronson added
�I came to FormFactor to position the company to achieve its
strategic growth objectives. I have been fortunate to work with CEO
and founder, Igor Khandros, these past two years, together enabling
the company to continue to achieve significant growth. With a solid
business foundation and strategic roadmap in place, I am confident
FormFactor will continue to realize its outstanding growth
potential.� Forward-Looking Statements Statements in this press
release that are not strictly historical in nature are
forward-looking statements within the meaning of the federal
securities laws, including statements regarding operations,
business potential and momentum, and future growth. These
forward-looking statements are based on current information and
expectations that are inherently subject to change and involve a
number of risks and uncertainties. Actual events or results might
differ materially from those in any forward-looking statement due
to various factors, including, but not limited to, the company�s
ability to execute on its strategic roadmaps; to deploy and improve
infrastructure, processes and programs for enabling growth
domestically and overseas and for meeting customer and industry
requirements; to continue to ramp its factory capacity and increase
production efficiencies and yields in its manufacturing operations;
to develop and deliver innovative technologies and enforce its
intellectual property rights; and to drive its product development
pipeline and support multiple growth drivers in its customers�
businesses. Additional information concerning factors that could
cause actual events or results to differ materially from those in
any forward-looking statement is contained in the company�s Form
10-K for the fiscal year ended December 31, 2005 and the company�s
subsequent 10-Q and 8-K filings, which the company files with the
Securities and Exchange Commission (�SEC�). Copies of the company�s
SEC filings are available at
http://investors.formfactor.com/edgar.cfm. The company assumes no
obligation to update the information in this press release, to
revise any forward-looking statements or to update the reasons
actual results could differ materially from those anticipated in
forward-looking statements. About FormFactor Founded in 1993,
FormFactor, Inc. (Nasdaq:FORM) is the leader in advanced wafer
probe cards, which are used by semiconductor manufacturers to
electrically test ICs. The company�s wafer sort, burn-in and device
performance testing products move IC testing upstream from
post-packaging to the wafer level, enabling semiconductor
manufacturers to lower their overall production costs, improve
yields, and bring next-generation devices to market. FormFactor is
headquartered in Livermore, California with operations in Europe,
Asia and North America. For more information, visit the company�s
web site at www.formfactor.com. FormFactor is a registered
trademark of FormFactor, Inc.
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