Veeco Announces Governance and Diversity Improvements to Its Board of Directors

May 07, 2020

Plainview, N.Y. – Veeco Instruments Inc. (NASDAQ: VECO) announced recent changes to its Board of Directors, including:

  • John Peeler, Chairman of the Board and former Chief Executive Officer, retiring from the Board.
  • Richard D’Amore, General Partner of North Bridge Venture Partners and previously Lead Independent Director, appointed to the position of Chairman of the Board.
  • Mary Jane Raymond, Chief Financial Officer and Treasurer of II-VI, appointed to the Audit Committee.

John Peeler previously announced his decision to step down as Chairman and Director of the Board, effective May 7, 2020. While Chairman, Mr. Peeler helped increase the Board’s diversity with the successful recruitment of Mary Jane Raymond, the second woman currently serving on the Veeco Board, in November 2019. Having led the Company’s CEO succession plan, which resulted in the promotion of William J. Miller, Ph.D. to CEO in 2018, and believing that good governance calls for both an independent Chairman and a properly sized Board of Directors, Mr. Peeler elected to retire from the Veeco Board.

Effective upon Mr. Peeler’s retirement, the Board appointed Richard D’Amore, who the Board has determined to be independent, to serve as Chairman. Mr. D’Amore has been a General Partner of North Bridge Venture Partners, an early-stage venture capital and growth equity firm, since its inception in 1994. Mr. D’Amore has served on the Veeco Board for many years and brings both a strong business background and considerable board experience to Veeco. With Mr. D’Amore’s appointment as Chairman, the role of Lead Independent Director is discontinued.

“On behalf of the Board, I would like to thank John for his many contributions to Veeco and his commitment and tireless efforts on our behalf,” commented Mr. D’Amore.

Ms. Raymond joined Veeco’s Board of Directors in conjunction with the Company’s Board diversity initiative. A highly accomplished financial expert, currently serving as Chief Financial Officer of II-VI Incorporated, a global leader in engineered materials and optoelectronic components, Ms. Raymond was recently appointed to Veeco’s Audit Committee.

“Mary Jane has been a great recent addition to the Veeco Board of Directors,” commented Dr. Miller. “With her strong executive financial background and technology industry experience, we look forward to her continued contributions to the Board and Audit Committee. The recent changes to our Board have improved diversity and enhanced independence in the best interests of our shareholders.”

About Veeco

Veeco (NASDAQ: VECO) is an innovative manufacturer of semiconductor process equipment. Our proven ion beam, laser annealing, lithography, MOCVD and single wafer etch & clean technologies play an integral role in the fabrication and packaging of advanced semiconductor devices. With equipment designed to optimize performance, yield and cost of ownership, Veeco holds leading technology positions in the markets we serve. To learn more about Veeco’s systems and service offerings, visit www.veeco.com.

To the extent that this news release discusses expectations or otherwise makes statements about the future, such statements are forward-looking and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include the risks discussed in the Business Description and Management’s Discussion and Analysis sections of Veeco’s Annual Report on Form 10-K for the year ended December 31, 2019 and in our subsequent quarterly reports on Form 10-Q, current reports on Form 8-K and press releases. Veeco does not undertake any obligation to update any forward-looking statements to reflect future events or circumstances after the date of such statements.

Veeco Contacts:

Investors:
Anthony Bencivenga | (516) 252-1438 | abencivenga@veeco.com

Media:
Kevin Long | (516) 714-3978 | klong@veeco.com

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