Rudolph Announces Appointment of New CEO
Rudolph Technologies, Inc, a provider of process characterization equipment, lithography equipment and software for wafer fabs and advanced packaging facilities, today announced that Paul F. McLaughlin shall retire from the employment of the Company effective December 30, 2015 and that the Board of Directors has named Michael P. Plisinski as the Company's next Chief Executive Officer and appointed him as a Director of the Company, both effective today, November 9, 2015.
Mr. McLaughlin has served as the Company's CEO since June of 1996. In accordance with the term of his Management Agreement, Mr. McLaughlin has opted to retire from his employment with the Company effective December 30, 2015. He will, however, continue as the Chairman of the Company's Board of Directors until March 31, 2016 at which time he intends to step down as a Director of the Company.
"For the past nineteen years Paul McLaughlin has done a magnificent job leading Rudolph Technologies. He set its strategy, built a strong management team, entered new markets, increased shareholder value and grew the company into one of the leading suppliers of capital equipment to the worldwide semiconductor industry," said Thomas G. Greig, Lead Director of the Board. "On behalf of the entire Board of Directors, I thank Paul for his numerous contributions and his distinguished tenure as CEO."
Mr. Plisinski, 45, has served as the Company's Executive Vice President and Chief Operating Officer since October 2014. Prior to that, Mr. Plisinski served as Vice President and General Manager of the Company's Data Analysis and Review Business Unit since February 2006 when the Company merged with August Technology Corporation. Mr. Plisinski also held the positions of Vice President of Engineering and Director of Strategic Marketing for review and analysis products for August Technology during his tenure with that company. In July of 2003, Mr. Plisinski joined August Technology as part of the acquisition of Counterpoint Solutions, a supplier of optical review and automated metrology equipment to the semiconductor industry, where he was both President and sole founder. Mr. Plisinski has a B.S. in Computer Science from the University of Massachusetts and successfully completed the Advanced Management Program at Harvard Business School.
"I am delighted to pass the torch to Mike, who I know brings a wealth of talent and experience to this role," said Mr. McLaughlin. "When one takes into consideration his strong performance both as COO over the past year and as General Manager of our Data Analysis and Review Business Unit and extensive knowledge of the Company, it is clear that he is the ideal person for this role. As such, Mike's election provides for a smooth transition in this role and was the unanimous choice of Rudolph's Board. I enthusiastically welcome Mike as our new CEO and am excited for the bright future of our Company."
