Photronics Appoints Executive Chairman
Photronics (Nasdaq: PLAB) has appointed George Macricostas as Executive Chairman, effective January 6, 2025. Macricostas, a board member since 2002, brings over 30 years of technical and management experience. He previously served on the Nomination and Cybersecurity committees and as Chairman of the Compensation Committee.
David Garcia will succeed Macricostas in his committee roles. Following this appointment, both George Macricostas and Constantine ("Deno") Macricostas will no longer be considered independent directors, leaving the board with six independent directors out of nine total members.
George Macricostas was previously a Founder, Chairman, and CEO of RagingWire Data Centers, which was sold to NTT of Japan in two stages (2014 and 2018). He also served as senior vice president at Photronics, overseeing IT infrastructure.
Photronics (Nasdaq: PLAB) ha nominato George Macricostas come Presidente Esecutivo, a partire dal 6 gennaio 2025. Macricostas, membro del consiglio di amministrazione dal 2002, porta con sé oltre 30 anni di esperienza tecnica e gestionale. Ha precedentemente ricoperto cariche nei comitati per le Nomine e per la Cybersecurity, oltre a essere stato Presidente del Comitato per la Compensazione.
David Garcia succederà a Macricostas nei suoi ruoli nei comitati. A seguito di questa nomina, sia George Macricostas che Constantine ("Deno") Macricostas non saranno più considerati direttori indipendenti, lasciando il consiglio con sei direttori indipendenti su un totale di nove membri.
George Macricostas è stato in precedenza Fondatore, Presidente e CEO di RagingWire Data Centers, che è stata venduta a NTT del Giappone in due fasi (2014 e 2018). Ha anche ricoperto il ruolo di vicepresidente senior presso Photronics, supervisionando l'infrastruttura IT.
Photronics (Nasdaq: PLAB) ha nombrado a George Macricostas como Presidente Ejecutivo, con efecto a partir del 6 de enero de 2025. Macricostas, miembro de la junta desde 2002, aporta más de 30 años de experiencia técnica y en gestión. Anteriormente, sirvió en los comités de Nominaciones y Ciberseguridad y como Presidente del Comité de Compensación.
David Garcia sucederá a Macricostas en sus roles en los comités. Tras este nombramiento, tanto George Macricostas como Constantine ("Deno") Macricostas ya no serán considerados directores independientes, dejando a la junta con seis directores independientes de un total de nueve miembros.
George Macricostas fue anteriormente Fundador, Presidente y CEO de RagingWire Data Centers, que fue vendida a NTT de Japón en dos etapas (2014 y 2018). También se desempeñó como vicepresidente senior en Photronics, supervisando la infraestructura de TI.
Photronics (Nasdaq: PLAB)는 George Macricostas를 2025년 1월 6일부터 이사회 의장으로 임명했습니다. 2002년부터 이사회의 일원인 Macricostas는 30년 이상의 기술 및 관리 경험을 보유하고 있습니다. 그는 이전에 위원회에 대한 임명 및 사이버 보안 위원으로 활동했으며 보상 위원회의 의장으로도 재직했습니다.
David Garcia는 Macricostas의 위원회 역할을 이어받게 됩니다. 이 임명이 있은 후 George Macricostas와 Constantine(“Deno”) Macricostas는 더 이상 독립 이사로 간주되지 않으며, 총 아홉 명의 이사 중 여섯 명이 독립 이사가 됩니다.
George Macricostas는 RagingWire Data Centers의 창립자, 의장 및 CEO로 있었고 이 회사는 일본의 NTT에 2014년과 2018년 두 단계로 매각되었습니다. 그는 또한 Photronics에서 IT 인프라를 감독하는 수석 부사장으로 재직했습니다.
Photronics (Nasdaq: PLAB) a nommé George Macricostas au poste de président exécutif, à compter du 6 janvier 2025. M. Macricostas, membre du conseil d'administration depuis 2002, apporte plus de 30 ans d'expérience technique et managériale. Il a précédemment siégé dans les comités de nomination et de cybersécurité et en tant que président du comité des rémunérations.
David Garcia succédera à Macricostas dans ses fonctions au sein des comités. Suite à cette nomination, George Macricostas et Constantine ("Deno") Macricostas ne seront plus considérés comme des administrateurs indépendants, le conseil d'administration comptant désormais six administrateurs indépendants sur un total de neuf membres.
George Macricostas était auparavant fondateur, président et PDG de RagingWire Data Centers, qui a été vendue en deux étapes à NTT du Japon (2014 et 2018). Il a également été vice-président senior chez Photronics, supervisant l'infrastructure informatique.
Photronics (Nasdaq: PLAB) hat George Macricostas mit Wirkung zum 6. Januar 2025 zum Executive Chairman ernannt. Macricostas, der seit 2002 im Vorstand ist, bringt über 30 Jahre technische und Managementerfahrung mit. Er war zuvor in den Nominierungs- und Cybersicherheitskomitees tätig und Vorsitzender des Vergütungsausschusses.
David Garcia wird Macricostas in seinen Ausschussfunktionen nachfolgen. Nach dieser Ernennung werden sowohl George Macricostas als auch Constantine ("Deno") Macricostas nicht mehr als unabhängige Direktoren angesehen, sodass der Vorstand nun aus sechs unabhängigen Direktoren von insgesamt neun Mitgliedern besteht.
George Macricostas war zuvor Gründer, Vorsitzender und CEO von RagingWire Data Centers, das in zwei Phasen (2014 und 2018) an NTT aus Japan verkauft wurde. Er war auch als Senior Vice President bei Photronics tätig und hatte die Aufsicht über die IT-Infrastruktur.
- Appointment brings extensive industry experience with over 30 years of technical and management background
- Previous successful track record as Founder and CEO of RagingWire Data Centers, leading to successful acquisition by NTT
- Maintains strong board independence with 6 out of 9 directors being independent
- Reduction in board independence as two directors are no longer considered independent
BROOKFIELD, Conn., Jan. 10, 2025 (GLOBE NEWSWIRE) -- Photronics, Inc. (Nasdaq: PLAB), a worldwide leader in photomask technologies and solutions, announced today the appointment of George Macricostas to the position of Executive Chairman, effective January 6, 2025.
Mr. Macricostas has over 30 years of technical and management experience in business operations and information technology. He has been a member of the Photronics Board of Directors since 2002, serving on the Nomination and Cybersecurity committees, and most recently as Chairman of the Compensation Committee. With his transition to the Executive Chairman role, Mr. Macricostas will be succeeded in his committee assignments by Mr. David Garcia, who became a member of the Board of Directors in December 2024. As a result of the appointment, both George Macricostas and Constantine (“Deno”) Macricostas will no longer be considered independent directors, resulting in a Board of Directors of nine, six of whom are independent.
Mr. Macricostas was a Founder, Chairman, and CEO of RagingWire Data Centers, Inc., a provider of mission critical data center colocation facilities, which is where the “Cloud” lives. He guided the company through a two-stage sale to NTT of Japan in 2014 and 2018. Previously, he was a senior vice president at Photronics, where he was responsible for all aspects of the company’s IT infrastructure.
“George is an outstanding leader who has had an invaluable voice on the Photronics Board,” said CEO Frank Lee. “We are pleased that he will be spending more time on the execution of Photronics’ future direction and we expect to continue to benefit from his passion and leadership.”
“I am pleased to have my son George take on the role of Executive Chairman of the company,” said Deno Macricostas, who will remain a member of the Photronics Board of Directors. “His extensive business experience and knowledge of the photomask industry will help guide the company’s growth and operations into the future.”
About Photronics
Photronics is a leading worldwide manufacturer of integrated circuit (IC) and flat panel display (FPD) photomasks. High precision quartz plates that contain microscopic images of electronic circuits, photomasks are a key element in the IC and FPD manufacturing process. Founded in 1969, Photronics has been a trusted photomask supplier for over 50 years. The company operates 11 strategically located manufacturing facilities in Asia, Europe, and North America. Additional information can be accessed at www.photronics.com.
Forward-Looking Statements
Certain statements in this press release constitute “forward-looking statements” regarding our industry, our strategic position, and our financial and operating results. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results, performance, or achievements to differ materially. Please refer to our Annual Report on Form 10-K for the fiscal year ended October 31, 2024 and other subsequent filings with the Securities and Exchange Commission. These documents contain and identify important factors that could cause our actual results to differ materially from those contained in these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. We are under no duty to update any of the forward-looking statements after the date of this release to conform these statements to actual results.
For Further Information:
Ted Moreau
VP, Investor Relations
469.395.8175
tmoreau@photronics.com
FAQ
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