Rudolph Announces Retirement of Paul F. McLaughlin and Appointment of Michael P. Plisinski as New CEO and Director
By Business Wire News
By Business Wire News
Rudolph Technologies, Inc. (NYSE:RTEC), a leading provider of process characterization equipment, lithography equipment and software for wafer fabs and advanced packaging facilities, today announced that Paul F. McLaughlin shall retire from the employment of the Company effective December 30, 2015 and that the Board of Directors has named Michael P. Plisinski as the Company’s next Chief Executive Officer and appointed him as a Director of the Company, both effective today, November 9, 2015.
Mr. McLaughlin has served as the Company’s CEO since June of 1996. In accordance with the term of his Management Agreement, Mr. McLaughlin has opted to retire from his employment with the Company effective December 30, 2015. He will, however, continue as the Chairman of the Company’s Board of Directors until March 31, 2016 at which time he intends to step down as a Director of the Company.
“For the past nineteen years Paul McLaughlin has done a magnificent job leading Rudolph Technologies. He set its strategy, built a strong management team, entered new markets, increased shareholder value and grew the company into one of the leading suppliers of capital equipment to the worldwide semiconductor industry,” said Thomas G. Greig, Lead Director of the Board. “On behalf of the entire Board of Directors, I thank Paul for his numerous contributions and his distinguished tenure as CEO.”
Mr. Plisinski, 45, has served as the Company’s Executive Vice President and Chief Operating Officer since October 2014. Prior to that, Mr. Plisinski served as Vice President and General Manager of the Company’s Data Analysis and Review Business Unit since February 2006 when the Company merged with August Technology Corporation. Mr. Plisinski also held the positions of Vice President of Engineering and Director of Strategic Marketing for review and analysis products for August Technology during his tenure with that company. In July of 2003, Mr. Plisinski joined August Technology as part of the acquisition of Counterpoint Solutions, a supplier of optical review and automated metrology equipment to the semiconductor industry, where he was both President and sole founder. Mr. Plisinski has a B.S. in Computer Science from the University of Massachusetts and successfully completed the Advanced Management Program at Harvard Business School.
“I am delighted to pass the torch to Mike, who I know brings a wealth of talent and experience to this role,” said Mr. McLaughlin. “When one takes into consideration his strong performance both as COO over the past year and as General Manager of our Data Analysis and Review Business Unit and extensive knowledge of the Company, it is clear that he is the ideal person for this role. As such, Mike’s election provides for a smooth transition in this role and was the unanimous choice of Rudolph’s Board. I enthusiastically welcome Mike as our new CEO and am excited for the bright future of our Company.”
About Rudolph Technologies, Inc.
Rudolph Technologies, Inc. is a leader in the design, development, manufacture and support of defect inspection, lithography, process control metrology, and data analysis systems and software used by semiconductor and advanced packaging device manufacturers worldwide. Rudolph delivers comprehensive solutions throughout the fab with its families of proprietary products that provide critical yield-enhancing information, enabling microelectronic device manufacturers to drive down costs and time to market of their devices. The Company’s expanding portfolio of equipment and software provides comprehensive solutions for front-end wafer processing, final manufacturing and advanced packaging of ICs. Headquartered in Flanders, New Jersey, Rudolph supports its customers with a worldwide sales and service organization. Additional information can be found on the Company’s website at www.rudolphtech.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”) which include the benefits to Rudolph to be afforded by the new CEO as well as other matters that are not purely historical data. Rudolph wishes to take advantage of the “safe harbor” provided for by the Act and cautions that actual results may differ materially from those projected as a result of various factors, including risks and uncertainties, many of which are beyond Rudolph’s control. Such factors include, but are not limited to, personality or philosophical differences which may compromise the functioning of the Company’s management team which could impact Company performance. Additional information and considerations regarding the risks faced by Rudolph are available in Rudolph’s Form 10-K report for the year ended December 31, 2014 and other filings with the Securities and Exchange Commission. As the forward-looking statements are based on Rudolph’s current expectations, the company cannot guarantee any related future results, levels of activity, performance or achievements. Rudolph does not assume any obligation to update the forward-looking information contained in this press release.
For Rudolph Technologies, Inc.
Steven R. Roth, 973-448-4302
Laura Guerrant-Oiye, 808-882-1467
Amy Shay, 952-259-1794