Onto Innovation Announces Investor Relations Transition Plan
April 04 2024 - 4:00PM
Business Wire
Michael Sheaffer to retire in July 2024
following a successful search for successor
Onto Innovation Inc. (NYSE: ONTO) (“Onto Innovation,” “Onto,” or
the “Company”) today announced that Michael Sheaffer plans to
retire from the Company in July this year. A successor search has
now been successfully completed with Sidney Ho joining Onto
Innovation as vice president of investor relations. Mr. Sheaffer
will remain fully engaged in the investor relations role and will
be the primary investor contact point until Mr. Ho assumes that
responsibility during the Company’s investor meetings at SEMICON®
West in July 2024.
Mr. Sheaffer, 74, joined Rudolph Technologies in 2017 as senior
director of investor relations and continued that role for Onto
Innovation following the merger of Rudolph Technologies and
Nanometrics. He shared, “It has been a great pleasure to finish my
career at Onto Innovation where we created a new company supporting
the semiconductor value chain while growing revenues 3X since I
joined. Over the next few months, I am pleased to help Sidney
transition into this exciting role.”
Mr. Ho joins Onto with more than 20 years of sell-side equity
research experience covering the semiconductor, semiconductor
capital equipment, and IT hardware industries. Most recently, he
spent 10 years as a senior analyst at Deutsche Bank. Prior to that,
he was a research analyst at Nomura Securities, Citi, and Merrill
Lynch. Prior to his career in equity research, he spent six years
in investment banking and public accounting. He said, “Onto offers
a unique value proposition by having process control tools and
software used across multiple markets in the semiconductor supply
chain. There are multiple inflection points happening across the
industry that have strong secular growth potential. I look forward
to effectively communicating our corporate strategies tied to that
growth and Onto’s financial performance to create long-term value
for our investors.”
Mike Plisinski, Onto’s chief executive officer, commented, “We
are excited to have Sidney join the Onto Innovation team. Sidney
brings decades of valuable sell-side experience to the company. His
extensive knowledge of the industry drivers and global
relationships across the investment community will broaden our
outreach while increasing support for our existing investors.”
He continued, “Mike has worn many hats over the years as we grew
our market cap by 14X during his time with us. He worked tirelessly
throughout, and we wish him a well-deserved and relaxing
retirement!”
About Onto Innovation Inc.
Onto Innovation is a leader in process control, combining global
scale with an expanded portfolio of leading-edge technologies that
include: Un-patterned wafer quality; 3D metrology spanning chip
features from nanometer scale transistors to large die
interconnects; macro defect inspection of wafers and packages;
metal interconnect composition; factory analytics; and lithography
for advanced semiconductor packaging.
Our breadth of offerings across the entire semiconductor value
chain combined with our connected thinking approach results in a
unique perspective to help solve our customers’ most difficult
yield, device performance, quality, and reliability issues. Onto
Innovation strives to optimize customers’ critical path of progress
by making them smarter, faster and more efficient.
With headquarters and manufacturing in the U.S., Onto Innovation
supports customers with a worldwide sales and service organization.
Additional information can be found at www.ontoinnovation.com.
Source: Onto Innovation Inc. ONTO-IC
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version on businesswire.com: https://www.businesswire.com/news/home/20240404796870/en/
Michael Sheaffer, +1 919.750.6732
mike.sheaffer@OntoInnovation.com
Onto Innovation (NYSE:ONTO)
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