Industry Veteran Provides Wealth of Technology and Market Insight,
Strong Leadership and Strategic Continuity
Chairman and CEO Constantine ("Deno") Macricostas to Become Executive
Chairman
BROOKFIELD, Conn.--(BUSINESS WIRE)--
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, 203-775-9000
Vice President,
Investor Relations & Marketing
pbroadbent@photronics.com
Source: Photronics, Inc.
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