Amtech Systems Announces CEO Transition
August 09 2023 - 4:03PM
Business Wire
Amtech Systems, Inc. ("Amtech") (NASDAQ: ASYS), a manufacturer
of capital equipment, including thermal processing and wafer
polishing, and related consumables used in fabricating
semiconductor devices, such as silicon carbide (SiC) and silicon
power, analog and discrete devices, and electronic assemblies and
modules focusing on enabling technologies for electric vehicles
(EV) and clean technology (CleanTech) applications, today announced
that Michael Whang stepped down as Chief Executive Officer,
effective August 8, 2023. The board has appointed Bob Daigle,
current Chairman of the Board, with the additional role of Chief
Executive Officer, effective August 8, 2023. To support the
transition, Mr. Whang will remain as an advisor until February 8,
2024.
“I’d like to thank Michael for his service to Amtech over the
past 19 years and for the last three years as Chief Executive
Officer. Michael led during the challenging COVID period and
positioned the Company well for the future. Amtech has tremendous
growth opportunities driven by demand for Silicon Carbide (SiC)
semiconductors required for the emerging electrical vehicle
industry, the acceleration of advanced packaging to support the
emerging artificial intelligence server market, and investments
that will be made to build a more resilient global supply chain in
the broader electronics industry. Our mission is to fully
capitalize on these growth opportunities and deliver the
profitability essential to creating shareholder value,” stated Bob
Daigle, Chairman of the Board and CEO of Amtech Systems.
Mr. Daigle has served on the Amtech Board since August of 2021
and as Chairman of the Board since March of 2022. He served in
various senior executive roles during his 30+ year tenure at Rogers
Corporation. While at Rogers, Mr. Daigle built and led the High
Frequency Circuit Materials business and the Power Electronics
Solutions business. Mr. Daigle holds a B.S in Chemical Engineering
and Materials Engineering from the University of Connecticut and an
M.B.A. from Rensselaer Polytechnic Institute.
Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this press release is
forward-looking in nature. All statements in this press release, or
made by management of Amtech Systems, Inc. and its subsidiaries
("Amtech"), other than statements of historical fact, are hereby
identified as "forward-looking statements" (as such term is defined
in Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, and
the Private Securities Litigation Reform Act of 1995). The
forward-looking statements in this press release relate only to
events or information as of the date on which the statements are
made in this press release. Examples of forward-looking statements
include statements regarding Amtech's future financial results,
operating results, business strategies, projected costs, products
under development, competitive positions, plans and objectives of
Amtech and its management for future operations, efforts to improve
operational efficiencies and effectiveness and profitably grow our
revenue, and enhancements to our technologies and expansion of our
product portfolio. In some cases, forward-looking statements can be
identified by terminology such as "may," "plan," "anticipate,"
"seek," "will," "expect," "intend," "estimate," "believe,"
"continue," "predict," "potential," "project," "should," "would,"
"could", "likely," "future," "target," "forecast," "goal,"
"observe," and "strategy" or the negative of these terms or other
comparable terminology used in this press release or by our
management, which are intended to identify such forward-looking
statements. These statements are not guarantees of future
performance and involve risks, uncertainties and assumptions that
are difficult to predict. The Form 10-K that Amtech filed with the
Securities and Exchange Commission (the "SEC") for the year-ended
September 30, 2022, listed various important factors that could
affect the Company's future operating results and financial
condition and could cause actual results to differ materially from
historical results and expectations based on forward-looking
statements made in this document or elsewhere by Amtech or on its
behalf. These factors can be found under the heading "Risk Factors"
in the Form 10-K and in our subsequently filed Quarterly Reports on
Form 10-Qs, and investors should refer to them. Because it is not
possible to predict or identify all such factors, any such list
cannot be considered a complete set of all potential risks or
uncertainties. Except as required by law, we undertake no
obligation to publicly update forward-looking statements, whether
as a result of new information, future events, or otherwise.
About Amtech Systems, Inc.
Amtech Systems, Inc. is a leading, global manufacturer of
capital equipment, including thermal processing, wafer cleaning,
chemical mechanical polishing (CMP) technology, and related
consumables used in fabricating semiconductor devices, such as
silicon carbide (SiC), silicon power, electronic assemblies and
modules focusing on enabling technologies for electric vehicles
(EV) and clean technology (CleanTech) applications. We sell process
equipment and services to semiconductor device and module
manufacturers worldwide, particularly in Asia, North America and
Europe. Our strategic focus is on semiconductor growth
opportunities in power electronics, sensors and analog devices
leveraging our strength in core competencies in thermal and
substrate processing. Amtech's products are recognized under the
leading brand names BTU International, Entrepix, Inc., Bruce
Technologies™, PR Hoffman™ and Intersurface Dynamics, Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20230809596307/en/
Amtech Systems, Inc. Lisa Gibbs Chief Financial Officer
480-360-3756 irelations@amtechsystems.com
Sapphire Investor Relations, LLC Erica Mannion or Michael Funari
617-542-6180 irelations@amtechsystems.com
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