PORTLAND, Ore.--(BUSINESS WIRE)--
Electro Scientific Industries, Inc. (NASDAQ:ESIO), an innovator in
laser-based manufacturing solutions for the micro-machining industry,
today announced that Richard Faubert and Barry Harmon will retire from
the Board of Directors at the upcoming shareholder meeting this August.
ESI previously announced that Jon Tomkins, former Chairman of the Board,
would be leaving the Board at that time due to age limits in ESI's
Corporate Governance Guidelines.
ESI also announced today that three new director candidates have been
nominated by the Board for election at the August shareholder meeting:
John Medica, a former executive with Apple, Inc. and Dell Computer and
current Vice Chairman of Compal Electronics; Ray Link, former Chief
Financial Officer of FEI Co.; and Laurence Cramer, President of
Continuum Electro-Optics Inc. and a laser industry veteran.
Rick Wills, ESI Chairman, commented, "We would like to thank Jon, Richie
and Barry for their many contributions to ESI over more than 40 years of
collective service." Wills further commented, "We are delighted to
invite John, Ray and Larry to join the Board at this important
turnaround juncture in ESI's history. Their combined experiences are a
good match in support of the company's future direction."
Mr. Wills joined ESI's Board in August of last year and became Chairman
in February 2015. He is the former CEO and Chairman of Tektronix Inc.
Continuing on the Board after the August shareholder meeting will be
David Nierenberg, President of Nierenberg Investment Management Company,
which is the second-largest shareholder of ESI; Frederick Ball, Chief
Financial Officer of Marketo, Inc.; Robert Walker, a retired Agilent
executive; and Edward Grady, CEO of ESI. Mr. Wills and Mr. Nierenberg
are also candidates for election at the August annual meeting.
Biographies of the director candidates and the other continuing Board
members will be in the upcoming ESI proxy.
The election of directors will be submitted to ESI shareholders for
consideration and approval. ESI will file a proxy statement with the
Securities and Exchange Commission ("SEC") regarding the election of
ESI SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND THE OTHER
RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE
THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ESI AND THE CANDIDATES FOR
ESI shareholders may obtain a free copy of the proxy statement (when it
becomes available) and other relevant documents filed with the SEC by
ESI at the SEC's web site at http://www.sec.gov.
Free copies of the proxy statement, when available, and other filings
made by ESI with the SEC also may be obtained from the Investor
Relations section of ESI's web site (http://investors.esi.com/sec.cfm)
or by directing a request to ESI, Attn: Investor Relations, at 13900
N.W. Science Park Drive, Portland, Oregon 97229.
ESI and its directors, officers, and employees may be deemed to be
participants in the solicitation of proxies from the shareholders of ESI
in favor of the election of the candidates described in the press
ESI's integrated solutions allow industrial designers and process
engineers to control the power of laser light to transform materials in
ways that differentiate their consumer electronics, wearable devices,
semiconductor circuits and high-precision components for market
advantage. ESI's laser-based manufacturing solutions feature the
micro-machining industry's highest precision and speed, and target the
lowest total cost of ownership. ESI is headquartered in Portland, Ore.,
with global operations from the Pacific Northwest to the Pacific Rim.
More information is available at www.esi.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150612005094/en/
Brian Smith, 503-672-5760
Source: Electro Scientific Industries, Inc.
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