IPG Photonics Appoints Catherine Lego to Board of Directors
July 07 2016 - 4:00PM
Business Wire
Brings Financial and Industry Experience to
Board
IPG Photonics Corporation (NASDAQ: IPGP) today announced that
Catherine P. Lego has been appointed to its Board of Directors
effective July 6, 2016. Lego is principal and founder of Lego
Ventures, LLC, a California-based firm that provides consulting
services to early-stage technology companies. The election of Ms.
Lego, who will serve on the Company’s Audit Committee and
Compensation Committee, expands the IPG board to 10 members.
“Cathy brings a great depth of financial and industry experience
to IPG’s Board,” said Dr. Valentin Gapontsev, IPG Photonics’
Chairman and CEO. “Cathy has extensive experience working with
advanced technology and semiconductor companies and is
well-regarded for her expertise in board governance, ethics and
audit quality. She is a valuable addition to IPG’s board and we
look forward to her contributions.”
Ms. Lego’s firm, Lego Ventures, which was founded in 1992,
supports early stage technology companies with business plan
development, obtaining seed and expansion financing, and counsel in
the area of strategic growth through mergers or acquisitions. The
firm’s clients have included Hybrid Networks, Opcode, Packeteer,
Tripod, Dhaani Systems and Network Translations. From 1999 to 2009
Ms. Lego served as the general partner of The Photonics Fund, LLP,
a venture capital investment firm focused on early stage investing
in component, module and systems companies in the fiber optic
telecommunications market. She served as the director of finance
and investment analyst at Oak Investment Partners from 1981 to
1984, and as a general partner from 1985 to 1992.
Ms. Lego serves on the Board of Directors of technology
companies Lam Research Corporation and Fairchild Semiconductor
International, Inc. She previously served as a director at SanDisk
Corporation, WJ Communications, Inc. and Uniphase Corp. She
participates on the E&Y Tapestry and KPMG audit committee round
tables and is a member of the NACD Audit Committee Advisory
Council. Ms. Lego holds a B.A. in Economics and Biology from
Williams College and an M.S. in Accounting from the New York
University Stern Graduate School of Business.
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.
Safe Harbor Statement
Information and statements provided by IPG and its employees,
including statements in this press release, that relate to future
plans, events or performance are forward-looking
statements. These statements involve risks and uncertainties.
Any statements in this press release that are not statements of
historical fact are forward-looking statements, including, but not
limited to, the contributions from Ms. Catherine Lego to IPG’s
Board of Directors. Factors that could cause actual results to
differ materially include risks and uncertainties, including risks
associated with the strength or weakness of the business conditions
in industries and geographic markets that IPG serves, particularly
the effect of downturns in the markets IPG serves; uncertainties
and adverse changes in the general economic conditions of markets;
IPG's ability to penetrate new applications for fiber lasers and
increase market share; the rate of acceptance and penetration of
IPG's products; inability to manage risks associated with
international customers and operations; foreign currency
fluctuations; high levels of fixed costs from IPG's vertical
integration; the appropriateness of IPG's manufacturing capacity
for the level of demand; competitive factors, including declining
average selling prices; the effect of acquisitions and investments;
inventory write-downs; intellectual property infringement claims
and litigation; interruption in supply of key components;
manufacturing risks; government regulations and trade sanctions;
and other risks identified in IPG's SEC filings. Readers are
encouraged to refer to the risk factors described in IPG's Annual
Report on Form 10-K (filed with the SEC on February 26, 2016) and
its periodic reports filed with the SEC, as applicable. Actual
results, events and performance may differ materially. Readers
are cautioned not to rely on the forward-looking statements, which
speak only as of the date hereof. IPG undertakes no obligation to
update the forward-looking statements that may be made to reflect
events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events.
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version on businesswire.com: http://www.businesswire.com/news/home/20160707006366/en/
IPG Photonics CorporationTim Mammen, 508-373-1100Chief Financial
OfficerorSharon MerrillJamie Bernard, 617-542-5300Senior
Associate
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