IPG Photonics Announces Addition to its Board of Directors

Rhea-AI Summary

IPG Photonics Corporation (Nasdaq: IPGP) appoints Kolleen Kennedy, a seasoned medical device industry executive, as a new director, expanding the Board to 11 members. Kennedy's extensive experience in medical sales and track record at Varian Medical Systems position her to contribute significantly to IPG's strategy, particularly in the medical field.

MARLBOROUGH, Mass., Aug. 01, 2023 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (Nasdaq: IPGP) today announced that its Board of Directors has elected Kolleen Kennedy as a new director of the company, increasing the size of the Board to 11 members.

“I am pleased to welcome Ms. Kennedy to the Board,” said John Peeler, non-executive Chair of the Board. “Ms. Kennedy brings more than 25 years of medical device industry experience that will be valuable to IPG as our medical sales continue to be a growth driver for the company." Dr. Eugene Scherbakov, IPG's Chief Executive Officer and director, added, "I am looking forward to working with Kolleen and believe she will be a great contributor to IPG’s strategy, particularly in the medical field, given her track record of delivering consistent value creation through top-line growth.”

Ms. Kennedy spent over two decades at Varian Medical Systems, where she most recently served as President, Proton Solutions and Chief Growth Officer. Ms. Kennedy has served as a member of the board of ICU Medical, Inc., manufacturer of medical technologies, since 2021. She holds B.S. degrees in Radiation Oncology and Psychology and a M.S. in Medical Physics from the University of Colorado, Denver.

Contact

Eugene Fedotoff
Senior Director, Investor Relations
IPG Photonics Corporation
508-597-4713
efedotoff@ipgphotonics.com

About IPG Photonics Corporation
IPG Photonics Corporation is the leader in high-power fiber lasers and amplifiers used primarily in materials processing and other diverse applications. The Company’s mission is to develop innovative laser solutions making the world a better place. IPG accomplishes this mission by delivering superior performance, reliability and usability at a lower total cost of ownership compared with other types of lasers and non-laser tools, allowing end users to increase productivity and decrease costs. IPG is headquartered in Marlborough, Massachusetts and has more than 30 facilities worldwide. For more information, visit www.ipgphotonics.com.

FAQ

What is the latest announcement from IPG Photonics Corporation (Nasdaq: IPGP)?

IPG Photonics Corporation has appointed Kolleen Kennedy as a new director, expanding the Board to 11 members.

What is Kolleen Kennedy's background and experience?

Kolleen Kennedy has over 25 years of experience in the medical device industry, including serving as President, Proton Solutions and Chief Growth Officer at Varian Medical Systems.

How will Kolleen Kennedy's appointment impact IPG Photonics Corporation's strategy?

Kolleen Kennedy's expertise in medical sales and consistent value creation through top-line growth positions her to significantly contribute to IPG's strategy, particularly in the medical field.