IPG Photonics Further Strengthens Board with Addition of Jeanmarie Desmond and Natalia Pavlova
January 07 2021 - 4:05PM
IPG Photonics Corporation (NASDAQ: IPGP) today announced that
the Company has appointed Ms. Jeanmarie Desmond and Ms. Natalia
Pavlova to its board of directors, effective January 7, 2021. Mr.
Igor Samartsev, the Company’s chief technology officer, is stepping
down from his board seat.
“We are delighted to welcome Jeanmarie and Natalia
to IPG’s board of directors,” said Dr. Valentin Gapontsev, the
chair and chief executive officer of IPG Photonics. “Jeanmarie’s
broad financial expertise and experience in a large
innovation-driven company will be invaluable to our efforts to
capitalize on growth opportunities across our vertical and
geographic markets. Natalia strengthens the connection between the
Company’s founding members and our board, further aligning the
board with the interests of all IPG stockholders. On behalf of the
board and the entire company, I also would like to thank Igor for
his 14 years of service as a director. We look forward to his
continued contributions to IPG Photonics as our chief technology
officer.”
Ms. Desmond is the former chief financial officer
of DuPont. She was previously co-controller and head of finance for
DowDuPont’s Specialty Products Division, overseeing the division’s
strategic planning, portfolio integration, and financial reporting.
Prior to the merger of Dow and DuPont, Ms. Desmond served as vice
president and controller of DuPont. During her more than 25 years
with DuPont, she was responsible for a number of key strategic
areas including finance leadership and operations, financial
planning and analysis, tax, internal audit, accounting controls,
risk management, mergers and acquisitions, and investor relations.
Ms. Desmond will also become a member of the Audit Committee of the
IPG Board.
Ms. Pavlova is the spouse of Mr. Samartsev and the
former daughter-in-law of Dr. Gapontsev. In addition to her
extensive knowledge of the Company’s history and corporate culture,
Ms. Pavlova is a significant shareholder, with a demonstrated
commitment to the Company’s long-term success.
About IPG Photonics Corporation
IPG Photonics Corporation is the leader in high-power fiber lasers
and amplifiers used primarily in materials processing and other
diverse applications. The company’s mission is to make its fiber
laser technology the tool of choice in mass production. IPG
accomplishes this mission by delivering superior performance,
reliability and usability at a lower total cost of ownership
compared with other types of lasers and non-laser tools, allowing
end users to increase productivity and decrease costs. A member of
the S&P 500® Index, IPG is headquartered in Oxford,
Massachusetts and has more than 25 facilities worldwide. For more
information, visit www.ipgphotonics.com.
Contact: Nicholas Manganaro
Sharon Merrill Associates (617) 542-5300
ipgp@investorrelations.com
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