Three Nominated to Join ESI Board of Directors
Three technology executives have been nominated to join the board of directors at Electro Scientific Industries Inc. (ESI) as three others prepare to retire.
The candidates are John Medica, a former executive with Apple Inc. and Dell Inc. and current vice chairman of Compal Electronics Inc.; Ray Link, former chief financial officer at FEI Co.; and Laurence Cramer, president of Continuum Electro-Optics Inc. and a laser industry veteran. The nominations will be voted on at a shareholders' meeting in August.
Richard Faubert and Barry Harmon are expected to leave the board after that meeting. ESI previously announced that Jon Tomkins, former chairman of the board, would be leaving at that time due to age limits in the company's corporate governance guidelines.
Continuing on the board are Frederick Ball, CFO of Marketo Inc.; Robert Walker, a retired Agilent Technologies Inc. executive; and Edward Grady, CEO of ESI.
Up for re-election at the August meeting are chairman Rick Willis, former CEO of Tektronix Inc., and David Nierenberg, president of Nierenberg Investment Management Co., which is the second-largest shareholder of ESI.
ESI develops laser-based manufacturing systems for the consumer electronics, wearable devices and semiconductor industries.