Axcelis Technologies Appoints David Ryzhik Senior Vice President of Investor Relations and Corporate Strategy

Rhea-AI Summary

Axcelis Technologies (Nasdaq: ACLS) has announced the appointment of David Ryzhik as Senior Vice President of Investor Relations and Corporate Strategy, effective July 2024. Ryzhik brings over 20 years of experience in investor relations and finance, including roles at MKS Instruments and Susquehanna International Group. He will succeed Doug Lawson, who plans to retire but will remain as a Senior Advisor until July 2025. Lawson has had a 15-year tenure with Axcelis, holding various executive roles and significantly contributing to corporate marketing and strategy. The transition aims to leverage Ryzhik's extensive experience to further Axcelis' growth objectives.

Positive

• David Ryzhik's appointment brings over 20 years of investor relations and financial experience.
• Axcelis aims to leverage Ryzhik's expertise to focus on growth opportunities.
• Doug Lawson will remain as a Senior Advisor until July 2025, ensuring a smooth transition.

Negative

• The retirement of Doug Lawson, a key executive with 15 years at Axcelis, may raise concerns about continuity and experience gaps.

The Company Announces Planned Retirement of Doug Lawson, Executive Vice President of Corporate Marketing and Strategy

BEVERLY, Mass., June 27, 2024 /PRNewswire/ -- Axcelis Technologies, Inc. (Nasdaq: ACLS), a leading supplier of enabling ion implantation solutions for the semiconductor industry, today named David Ryzhik as Senior Vice President of Investor Relations and Corporate Strategy, assuming responsibility for the role in July 2024. The Company also announced the retirement of Doug Lawson, Executive Vice President of Corporate Marketing and Strategy. Mr. Lawson plans to retire in July 2024 and will remain as a Senior Advisor through July 2025.

Mr. Ryzhik brings more than 20 years of investor relations and financial experience across multiple industries, most recently serving as Vice President of Investor Relations at MKS Instruments. Prior to joining MKS, Mr. Ryzhik was Senior Equity Research Analyst covering the Industrial Technology and Distributed Ledger Technology sectors at Susquehanna International Group (SIG). Prior to SIG, Mr. Ryzhik served as Senior Research Associate at Brean Capital, and also held financial roles in public administration at the NYC Mayor's Office of Management & Budget, and the NYC Fire Department. He holds a Master of Business Administration in Financial Management and a Bachelor of Business Administration in Finance and Accounting from Pace University's Lubin School of Business. David is a Board Member of the National Investor Relations Institute's (NIRI) Boston Chapter.

Mr. Lawson has had a 15 year career at Axcelis. He held numerous executive leadership positions in the Company most recently as Executive Vice President, Corporate Marketing and Strategy, overseeing corporate marketing, investor relations, business development and IT.  Prior to joining Axcelis in 2009, Mr. Lawson held numerous executive and technical positions at Luminus Devices, BTU International, PRI Automation, Digital Equipment and Intel. 

Executive Vice President and CFO Jamie Coogan stated, "We are delighted to announce that David will be joining Axcelis as our new Senior Vice President of Investor Relations and Corporate Strategy. He is a seasoned executive with a wealth of knowledge and experience in the financial sector which will be of great value as we continue to focus on growth opportunities for Axcelis."

"Doug has made a lasting impact on the growth and strategy of Axcelis over the course of his 15 years at the company," said President and CEO Russell Low. "His leadership, advice and focus on building strong relationships with all of our stakeholders have helped position Axcelis for a very bright future."

About Axcelis:
Axcelis (Nasdaq: ACLS), headquartered in Beverly, Mass., has been providing innovative, high-productivity solutions for the semiconductor industry for 45 years. Axcelis is dedicated to developing enabling process applications through the design, manufacture and complete life cycle support of ion implantation systems, one of the most critical and enabling steps in the IC manufacturing process. Learn more about Axcelis at www.axcelis.com.

CONTACTS:
Maureen Hart (editorial/media) 978.787.4266
Doug Lawson (investor relations) 978.787.9552

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SOURCE Axcelis Technologies, Inc.

FAQ

Who is the new Senior Vice President of Investor Relations and Corporate Strategy at Axcelis Technologies?

David Ryzhik has been appointed as the new Senior Vice President of Investor Relations and Corporate Strategy, effective July 2024.

When will Doug Lawson retire from Axcelis Technologies?

Doug Lawson plans to retire in July 2024 but will remain as a Senior Advisor until July 2025.

What experience does David Ryzhik bring to Axcelis Technologies?

David Ryzhik has over 20 years of experience in investor relations and finance, including roles at MKS Instruments and Susquehanna International Group.

What is the impact of Doug Lawson's retirement on Axcelis Technologies?

Doug Lawson's retirement might raise concerns about continuity and experience gaps, but he will stay as a Senior Advisor until July 2025 to help ensure a smooth transition.