Photronics Promotes Dr. Peter Kirlin to Chief Executive Officer
March 25 2015 - 5:51PM
Business Wire
Industry Veteran Provides Wealth of Technology
and Market Insight, Strong Leadership and Strategic Continuity
Chairman and CEO Constantine (“Deno”)
Macricostas to Become Executive Chairman
Photronics, Inc. (Nasdaq:PLAB), a worldwide leader in supplying
innovative imaging technology solutions for the global electronics
industry, today announced that as part of a long-term succession
planning process, Dr. Peter Kirlin has been promoted from President
to Chief Executive Officer, effective May 4, 2015 and will join the
Company’s Board of Directors. Constantine (“Deno”) Macricostas,
Photronics’ current Chairman and CEO, will continue on the Board of
Directors as Executive Chairman.
“Peter Kirlin is the ideal choice to lead Photronics, following
his highly successful role as the Company’s President,” said
Macricostas. “Peter has demonstrated strong leadership skills, keen
market insight and a deep commitment to providing superior service
to our customers. Those attributes, coupled with his deep
understanding of Photronics’ technology roadmap, will enable Peter
to drive the continued execution of our growth strategy. I am
thrilled to be succeeded as CEO by someone who shares the same
commitment to Photronics’ vision, mission and values, and I look
forward to working with Peter and his team as Executive
Chairman.”
“I am enthusiastic about the opportunity to take the reins as
Chief Executive Officer of Photronics,” said Kirlin. “We have the
most advanced technology in the market and we are well positioned
to capitalize on significant long-term growth opportunities. I look
forward to continuing to work with an outstanding team across the
Company as we execute on our growth strategy and focus on enhancing
shareholder value.”
Dr. Kirlin was promoted to President of Photronics in 2013 after
having served as Senior Vice President - U.S. & Europe since
joining the Company in 2008. Prior to Photronics, Peter spent 25
years in leadership positions in the photomask and semiconductor
industries, including Vice President of Business Development at
Entegris, Chairman and Chief Executive Officer of DuPont
Photomasks, and Group Vice President of ATMI. Dr. Kirlin was also
Executive Chairman of privately-held Akrion, Inc. He earned his
Ph.D. in Chemical Engineering from the University of Delaware and a
Bachelor of Science degree in Chemical Engineering from
Pennsylvania State University.
Photronics is a leading worldwide manufacturer of photomasks.
Photomasks are high precision quartz plates that contain
microscopic images of electronic circuits. A key element in the
manufacture of semiconductors and flat panel displays, photomasks
are used to transfer circuit patterns onto semiconductor wafers and
flat panel substrates during the fabrication of integrated
circuits, a variety of flat panel displays and, to a lesser extent,
other types of electrical and optical components. They are produced
in accordance with product designs provided by customers at
strategically located manufacturing facilities in Asia, Europe, and
North America. Additional information on the Company can be
accessed at www.photronics.com
The Private Securities Litigation Reform Act of 1995 provides a
“safe harbor” for forward-looking statements made by or on behalf
of Photronics, Inc. and its subsidiaries (the Company). The
forward-looking statements contained in this press release and
other parts of Photronics’ web site involve risks and uncertainties
that may affect the Company’s operations, markets, products,
services, prices, and other factors. These risks and uncertainties
include, but are not limited to, economic, competitive, legal,
governmental, and technological factors as well as decisions we may
make in the future regarding our business, capital structure and
other matters. These forward-looking statements generally can be
identified by phrases such as “believes”, “expects”, “anticipates”,
“plans”, “projects”, “could”, “estimate”, “intend”, “may”, “will”
and similar expressions. Accordingly, there is no assurance that
the Company’s expectations will be realized. For a fuller
discussion of the factors that may affect the Company's operations,
see "Forward Looking Statements" in the Company's Quarterly and
Annual Reports to the Securities and Exchange Commission on Forms
10-Q and 10-K. The Company assumes no obligation to provide
revisions to any forward-looking statements.
09-2015
Photronics, Inc.Pete Broadbent, 203-775-9000Vice President,
Investor Relations & Marketingpbroadbent@photronics.com
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