IPG Photonics Announces the Passing of Founder Dr. Valentin Gapontsev, Unique Combination of Scientist, Entrepreneur and Leader
October 25 2021 - 7:00AM
It is with profound sadness that IPG Photonics announces the
passing of beloved founder and Chairman and former CEO Dr. Valentin
P. Gapontsev.
Dr. Eugene Scherbakov, Chief Executive Officer,
said “Valentin’s passing is a tremendous loss for the IPG community
and the larger photonics world. Valentin’s technical innovations,
strategic vision for the capabilities of fiber lasers and
entrepreneurial drive transformed the laser industry and industrial
automation to the point where lasers are finally cost-effective,
reliable and effective tools that have mass applications in global
industrial production. Recognized as the Father of the Fiber Laser
Industry, his leadership and unique strategies enabled IPG to be at
the forefront of rapid technological developments, and will
continue to inspire us to strive for greatness in all that we do.
Our love and thoughts are with his wife and family during this
profoundly sad time.”
Dr. Gapontsev, 82, founded the Company's
predecessor in 1990. He has been IPG’s Chairman since the Company’s
founding and its CEO until April 2021. His scientific innovations
and business vision led to the creation of a vertically integrated
business employing over 6,000 worldwide. Dr. Gapontsev is the named
inventor on over 100 patents and author of over 200 scientific
papers. In 2006, he was awarded the Ernst & Young® Entrepreneur
of the Year Award for Industrial Products and Services in New
England and in 2009, he was awarded the Arthur L. Schawlow Award by
the Laser Institute of America. In 2011, he received the Russian
Federation National Award in Science and Technology, and he was
selected as a Fellow of the Optical Society of America. In 2010,
the SPIE listed Dr. Gapontsev as one of 28 “Laser Luminaries” who
made substantial contributions to lasers during the 50 years since
lasers were invented.
John Peeler, Lead Independent Director of IPG’s
Board of Directors, said “Valentin was universally admired for his
vision and success in scientific innovations married to
entrepreneurial drive over the last thirty years. He was a
passionate leader for IPG, leaving indelible marks on everything
and everyone he touched. As a mentor and friend to many, he also
was generous, changing the lives of many for the better.”
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 30 facilities worldwide. For more
information, visit www.ipgphotonics.com.
Contact:
Eugene Fedotoff
Director of Investor Relations
IPG Photonics Corporation
508-597-4713
efedotoff@ipgphotonics.com
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