IPG Photonics Appoints Veeco Instruments CEO John Peeler to Board of Directors
October 04 2012 - 9:25AM
Business Wire
IPG 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
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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