inTEST Names Richard Rogoff Vice President of Corporate Development

Rhea-AI Summary

inTEST Corporation (NYSE American: INTT) announced the appointment of Richard Rogoff as Vice President of Corporate Development, effective October 1, 2021. Rogoff will join the leadership team, reporting directly to CEO Richard N. Grant, Jr., and will focus on the company's growth strategy, including mergers and acquisitions (M&A). He brings nearly 30 years of experience in business development, having previously advised on M&A processes and held significant roles at Onto Innovation and ASML. This strategic move aims to enhance inTEST's operational capabilities and market expansion.

Positive

• Appointment of Richard Rogoff as VP of Corporate Development to strengthen growth strategy.
• Rogoff brings nearly 30 years of experience in business development and M&A.
• Focus on strategic partnerships and acquisitions to drive expansion.

Negative

• None.

MT. LAUREL, N.J.--(BUSINESS WIRE)-- inTEST Corporation (NYSE American: INTT), a global supplier of innovative test and process solutions for use in manufacturing and testing across a wide range of markets, including automotive, defense/aerospace, industrial, medical, semiconductor and telecommunications, today announced the appointment of Richard Rogoff to the newly created position of Vice President of Corporate Development effective October 1, 2021. Mr. Rogoff will be a member of the leadership team and report to inTEST’s President and CEO Richard N. “Nick” Grant, Jr. He will lead the development and execution of activities in support of the Company’s growth strategy, including mergers and acquisitions (M&A), strategic partnerships and joint ventures, and other related activities.

“To effectively execute our strategy for growth, we have to establish the infrastructure from which we can scale and ensure we are investing in the resources needed for success. Rich’s strong background and vast expertise in business development, M&A pipeline generation, and strategic opportunity evaluation and integration, combined with broad international experience, makes him a valuable addition to our leadership team,” commented Mr. Grant. “Rich has an impressive track record of success and his addition will be vital as we continue to innovate creative test and process solutions for our targeted markets.”

With nearly 30 years of business development, operational, financial, and international expertise, Mr. Rogoff most recently has advised many clients on their M&A processes including working with inTEST over the last six months. Previously, he spent seven years with Onto Innovation Inc. (formerly Rudolph Technologies Inc.), a semiconductor capital equipment supplier. He held the positions of Vice President and Business Unit Manager for advanced packaging and flat panel display lithography systems and later managed the company’s newly formed M&A integration office as Vice President Strategic Initiatives and Integration Management Office. Prior to that, he spent more than 20 years with ASML Inc., a semiconductor capital equipment supplier based in the Netherlands where he held a number of successively challenging positions including the Vice President Business Development & Business Unit Manager Optics and Vice President European Sales & Worldwide Account Support.

Mr. Rogoff holds a BS in Microelectronic Engineering from the Rochester Institute of Technology in Rochester, NY, and an MBA for Executives from INSEAD in Paris, France.

About inTEST Corporation

inTEST Corporation is a global supplier of innovative test and process solutions for use in manufacturing and testing across a wide range of markets including automotive, defense/aerospace, medical, industrial, semiconductor and telecommunications. Backed by decades of engineering expertise and a culture of operational excellence, inTEST solves difficult thermal, mechanical and electronic challenges for customers worldwide while generating strong cash flow and profits. The Company’s strategy leverages these strengths to grow organically and with acquisitions through the addition of innovative technologies, deeper and broader geographic reach and market expansion. For more information visit www.intest.com.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements do not convey historical information but relate to predicted or potential future events and financial results, such as statements of our plans, strategies and intentions, or our future performance or goals, that are based upon management's current expectations. Our forward-looking statements can often be identified by the use of forward-looking terminology such as “believes,” “expects,” “intends,” “may,” “will,” “should,” “plans,” “projects,” “forecasts,” “outlook,” “anticipates” or similar terminology. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements.

Such risks and uncertainties include, but are not limited to, any mentioned in this press release as well as the impact of the COVID-19 pandemic on our business, liquidity, financial condition and results of operations; indications of a change in the market cycles in the Semi Market or other markets we serve; changes in business conditions and general economic conditions both domestically and globally; changes in the demand for semiconductors; the success of our strategy to diversify our business by entering markets outside the Semi Market; our ability to successfully consolidate our EMS operations without any impact on customer shipments, quality or the level of our warranty claims and to realize the benefits of the consolidation; the possibility of acquisitions or dispositions and the successful integration of any acquired operations; our ability to borrow funds or raise capital to finance potential acquisitions; changes in the rates and timing of capital expenditures by our customers; and other risk factors set forth from time to time in our Securities and Exchange Commission filings, including, but not limited to, our annual report on Form 10-K for the year ended December 31, 2020. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks to circumstances only as of the date on which it is made. We undertake no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210929005078/en/

inTEST Corporation

Duncan Gilmour

Treasurer and Chief Financial Officer

Tel: (856) 505-8999

Investors:

Deborah K. Pawlowski

Kei Advisors LLC

dpawlowski@keiadvisors.com

Tel: (716) 843-3908

Source: inTEST Corporation

FAQ

Who has been appointed as the new VP of Corporate Development at inTEST Corporation?

Richard Rogoff has been appointed as the new VP of Corporate Development at inTEST Corporation.

When does Richard Rogoff start his role at inTEST Corporation?

Richard Rogoff's appointment is effective October 1, 2021.

What is the focus of Richard Rogoff's role at inTEST Corporation?

Richard Rogoff will focus on the company's growth strategy, including mergers and acquisitions, strategic partnerships, and joint ventures.

What is inTEST Corporation's stock symbol?

The stock symbol for inTEST Corporation is INTT.

What experience does Richard Rogoff bring to inTEST Corporation?

Richard Rogoff brings nearly 30 years of experience in business development and M&A, having worked with Onto Innovation and ASML.