Coherent Corp. (the “Company” or “Coherent”) (NYSE: COHR), a global
leader in materials, networking, and lasers, today announced that
following a comprehensive search, its Board of Directors has
appointed Jim Anderson, an established industry executive with a
proven track record of driving innovation and leading business
transformations, as the Company’s new Chief Executive Officer,
effective today. Mr. Anderson also joins the Company’s Board of
Directors.
Mr. Anderson joins Coherent from Lattice
Semiconductors (“Lattice”), where he was President, Chief Executive
Officer, and a member of its Board of Directors. As CEO, Mr.
Anderson was responsible for driving Lattice’s corporate strategy
and strengthening the Company’s product roadmap, achieving record
operating profits and gross margins. He succeeds Dr. Vincent D.
(“Chuck”) Mattera, Jr., who, as previously announced, is retiring
as Chair and CEO of Coherent.
“Jim’s business acumen and technical capability,
coupled with his extensive experience transforming complex global
businesses to deliver above-market growth and profitability, make
him the ideal leader to steer Coherent through its next chapter
amidst a rapidly changing market,” said Enrico DiGirolamo, Board
Chair. “I am confident that Coherent will benefit from Jim’s
operational expertise, innovation-first approach, and in-depth
knowledge of our market and platform, as we capitalize on the
strong market demand we see across our AI-related datacom portfolio
and improving industrial market, while leveraging our
diversification strategy that continues to serve us well.”
“I am deeply honored to join Coherent, a company
I have long admired, as its next CEO,” said Mr. Anderson. “With
cutting-edge innovation, an industry-leading platform, and an
intense focus on the customer, Coherent is exceptionally well
positioned to build on its existing momentum and deliver enhanced
profitable growth over the long term. I look forward to joining the
leadership team and Board at this pivotal moment in the Company’s
history as we work together to realize Coherent’s enormous
potential and drive value for all stakeholders.”
“Chuck Mattera has been in and around this
industry for almost half a century, conceptualizing and directing
the acquisition and business development strategy that made
Coherent the multi-billion dollar global entity it is today,” said
Mr. DiGirolamo. “Chuck thoughtfully forged meaningful relationships
with employees, customers, suppliers, government officials, key
partners, and shareholders that established a values-based
foundation.” DiGirolamo added, “On behalf of the Board, I have the
privilege of thanking Chuck for his many years of visionary
leadership, tireless execution, and energetic commitment to
redefining the possibilities of our industry. We all look forward
to learning about the next chapters of Chuck’s already accomplished
story.”
About Jim Anderson
Prior to joining Lattice in 2018, Mr. Anderson
was senior vice president and general manager of Advanced Micro
Devices’ Computing and Graphics business group. He previously held
leadership positions in general management, engineering, sales,
marketing, and strategy at companies including Intel, Broadcom
(formerly Avago Technologies), and LSI Corporation.
Mr. Anderson serves on the Board of Directors of
Entegris, EdgeQ, and Lumotive, as well as on the Board of Directors
of the Semiconductor Industry Association, the MIT Sloan Americas
Executive Board, the Electrical and Computer Engineering Advisory
Board at Purdue University, and the Dean’s Advisory Board for the
College of Science and Engineering at the University of Minnesota.
Previously, he was a director at Sierra Wireless.
Mr. Anderson holds an MBA and Master of Science
in electrical engineering and computer science from the
Massachusetts Institute of Technology, a Master of Science in
electrical engineering from Purdue University, and a Bachelor’s
degree in electrical engineering from the University of
Minnesota.
About Coherent
Coherent empowers market innovators to define
the future through breakthrough technologies, from materials to
systems. We deliver innovations that resonate with our customers in
diversified applications for the industrial, communications,
electronics, and instrumentation markets. Headquartered in
Saxonburg, Pennsylvania, Coherent has research and development,
manufacturing, sales, service, and distribution facilities
worldwide. For more information, please visit us at
coherent.com.
Contact:Amy WilsonManager, Corporate
Communications & Investor
Relationscorporate.communications@coherent.com
Media Contact:Samantha
GasparTeneosamantha.gaspar@teneo.com
Forward Looking Statements
The statements contained in this press release
include forward-looking statements relating to future events and
expectations, including statements regarding the Company’s ability
(i) to benefit from Mr. Anderson’s operational expertise,
innovation-first approach, and in-depth knowledge of our market and
platform; and (ii) to build on its existing momentum, to deliver
enhanced profitable growth over the long term, and to realize on
our enormous potential and drive value for all stakeholders, each
of which is based on certain assumptions and contingencies. The
forward-looking statements are made pursuant to the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of
1995 and relate to the Company’s performance on a going-forward
basis. The forward-looking statements contained herein involve
risks and uncertainties, which could cause actual results,
performance, or trends to differ materially from those expressed in
the forward-looking statements herein or in previous
disclosures.
The Company believes that all forward-looking
statements made by it herein have a reasonable basis, but there can
be no assurance that management’s expectations, beliefs, or
projections as expressed in the forward-looking statements will
actually occur or prove to be correct. In addition to general
industry and global economic conditions, factors that could cause
actual results to differ materially from those discussed in the
forward-looking statements herein include but are not limited to:
(i) the failure of any one or more of the assumptions stated herein
to prove to be correct; (ii) the risks relating to forward-looking
statements and other “Risk Factors” discussed in the Company’s
Annual Report on Form 10-K for the fiscal year ended June 30, 2023,
and additional risk factors that may be identified from time to
time in filings of the Company; (iii) the substantial indebtedness
the Company incurred in connection with its acquisition (the
“Transaction”) of Coherent, Inc. (“Coherent”), the need to generate
sufficient cash flows to service and repay such debt, and the
Company’s ability to generate sufficient funds to meet its
anticipated debt reduction goals; (iv) the possibility that the
Company may not be able to continue its integration progress and/or
take other restructuring actions, or otherwise be able to achieve
expected synergies, operating efficiencies including greater scale,
focus, resiliency, and lower operating costs, and other benefits
within the expected time frames or at all and ultimately to
successfully fully integrate the operations of Coherent with those
of the Company; (v) the possibility that such integration and/or
the restructuring actions may be more difficult, time-consuming, or
costly than expected or that operating costs and business
disruption (including, without limitation, disruptions in
relationships with employees, customers, or suppliers) may be
greater than expected in connection with the Transaction and/or the
restructuring actions; (vi) any unexpected costs, charges, or
expenses resulting from the Transaction and/or the restructuring
actions; (vii) the risk that disruption from the Transaction and/or
the restructuring actions materially and adversely affects the
respective businesses and operations of the Company and Coherent;
(viii) potential adverse reactions or changes to business
relationships resulting from the completion of the Transaction
and/or the restructuring actions; (ix) the ability of the Company
to retain and hire key employees; (x) the purchasing patterns of
customers and end users; (xi) the timely release of new products
and acceptance of such new products by the market; (xii) the
introduction of new products by competitors and other competitive
responses; (xiii) the Company’s ability to assimilate other
recently acquired businesses, and realize synergies, cost savings,
and opportunities for growth in connection therewith, together with
the risks, costs, and uncertainties associated with such
acquisitions; (xiv) the Company’s ability to devise and execute
strategies to respond to market conditions; (xv) the risks to
realizing the benefits of investments in R&D and
commercialization of innovations; (xvi) the risks that the
Company’s stock price will not trade in line with industrial
technology leaders; and/or (xvii) the risks of business and
economic disruption related to worldwide health epidemics or
outbreaks that may arise. The Company disclaims any obligation to
update information contained in these forward-looking statements,
whether as a result of new information, future events or
developments, or otherwise.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/1bdba573-8d10-41b4-b403-ff0bb08aef80
Coherent (NYSE:COHR)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Coherent (NYSE:COHR)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024