Intevac Announces Retirement of Chairman Norman H. Pond
August 21 2017 - 4:05PM
Business Wire
Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film
processing systems and digital night-vision technologies, today
announced that Norman H. Pond, Founder and Chairman of the Board,
has informed the Company that he is retiring as Chairman and as a
member of the Board of Directors, effective August 16, 2017. Mr.
Pond, 78, has served as Chairman of the Board since Intevac’s
founding in 1991, and as Chief Executive Officer from 1991 until
2000, September 2001 until January 2002, and November 2012 until
July 2013.
Norm Pond founded Intevac in 1991 as a spin-out from Varian
Associates. Prior to founding Intevac, Mr. Pond served as the
President of Varian Associates and previously was a Group Executive
at Teledyne. Mr. Pond previously served on the boards of Varian
Associates and Ebara Technology. Mr. Pond holds a BS in physics
from the Missouri Institute of Science and Technology and an MS in
physics from the University of California at Los Angeles. He is the
author of The Tube Guys (2008), the first book on the history of
microwave tubes and how their impact has been essential to our
nation’s defense.
David S. Dury will succeed Mr. Pond as Chairman of the Board of
Directors. Mr. Dury is the former chief financial officer of Aspect
Development and co-founder of Mentor Capital Group, and joined the
Company's Board of Directors in 2002. Mr. Dury stated, "Norm Pond
is a visionary technologist, a pioneer of magnetic media sputtering
systems that produce the majority of hard drive disks sold today,
as well as digital night-vision technologies that have become the
de facto standard for digital night vision for the U.S. military
and foreign nations. His experience and wisdom have been tremendous
assets to the Company. While his contributions will be missed on
our Board, we all wish him the very best in his much-deserved
retirement."
Mr. Pond stated, "I want Wendell and all of the employees of
Intevac to know that I am extremely proud of what they have
accomplished in building two world-class, market-leading
businesses, and I know the Company has a very bright future
ahead."
About Intevac
Intevac was founded in 1991 and has two businesses: Thin-film
Equipment and Photonics.
In our Thin-film Equipment business, we are a leader in the
design and development of high-productivity, thin-film processing
systems. Our production-proven platforms are designed for
high-volume manufacturing of substrates with precise thin film
properties, such as the hard drive media, display cover panel, and
solar photovoltaic markets we serve currently.
In our Photonics business, we are a recognized leading developer
of advanced high-sensitivity digital sensors, cameras and systems
that primarily serve the defense industry. We are the provider of
integrated digital imaging systems for most U.S. military night
vision programs.
For more information call 408-986-9888, or visit the Company's
website at www.intevac.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170821005773/en/
Intevac, Inc.James Moniz, 408-986-9888Chief Financial
OfficerClaire McAdams, 530-265-9899Investor Relations
Intevac (NASDAQ:IVAC)
Historical Stock Chart
From Aug 2024 to Sep 2024
Intevac (NASDAQ:IVAC)
Historical Stock Chart
From Sep 2023 to Sep 2024