Axcelis Technologies Announces CEO Succession

Russell J. Low, Ph.D. to Become President and CEO and Mary G. Puma to Become Executive Chairperson Effective May 11, 2023

BEVERLY, Mass., March 27, 2023 /PRNewswire/ -- The Board of Directors of Axcelis Technologies, Inc. (Nasdaq: ACLS), a leading supplier of enabling ion implantation solutions for the semiconductor industry, today named Russell J. Low, Ph.D. to succeed Mary G. Puma as President and Chief Executive Officer effective May 11, 2023, the date of the Company's 2023 Annual Meeting of Stockholders. Dr. Low is expected to join the Board of Directors on the same date. Ms. Puma will serve as Executive Chairperson of the Board until the 2024 Annual Meeting and remain as a Senior Advisor for a period beyond that. Jorge Titinger, an independent member of the Axcelis Board, will serve as Lead Director during Ms. Puma's tenure as Executive Chairperson.

Dr. Low is currently the Company's Executive Vice President, Global Customer Operations and Engineering. During his seven years with Axcelis, Dr. Low has been instrumental in developing and launching Axcelis' expanding Purion ion implant product line, including its very successful Purion Power Series. Prior to this, Dr. Low held various management positions in the semiconductor equipment industry with Veeco, Applied Materials and Varian Semiconductor. He received his Ph.D. in Physical Chemistry from Oxford University, an Executive MBA from the Massachusetts Institute of Technology, and a BS degree from Southampton University. 

Ms. Puma has had a 25 year career at Axcelis, with 22 years as CEO. She came to Axcelis through Eaton Corporation, and after assisting with the Company's initial public offering in 2000, became President and Chief Operating Officer. She also served as Axcelis' Chairperson from 2005 through 2015. Prior to joining Eaton, Ms. Puma spent 15 years in various marketing and general management positions for General Electric Company. Ms. Puma is also a director of Nordson Corporation and serves as a director and Chairperson of SEMI, a global industry association serving the manufacturing supply chain for the micro– and nano–electronics industries.

"Mary has worked diligently and effectively with her team to strengthen the company and position it for future growth," said Axcelis Chairperson Richard Faubert. "Through her leadership, the Company has delivered a portfolio of innovative, market leading ion implant products and improved financial performance."

Faubert continued, "As Russell takes over as CEO, he does so with a deep understanding of the technical and commercial aspects of Axcelis with a proven track record as a company leader. The Axcelis Board is confident that he will continue to deliver the growth and profitability that investors have come to expect."

Ms. Puma commented, "I have been planning this transition in coordination with the Board and believe now is the right time to move into the Executive Chairperson role. It has truly been an honor to lead this amazing company. I am most grateful for the dedication of our team members globally. I also want to thank our customers who, like our employees, have supported Axcelis over the years. Axcelis is well positioned for the future and Russell is the right leader to take the Company to the next level of success."

Dr. Low stated, "Axcelis' success has come from our world class team of employees focusing on innovation, operational execution and customer satisfaction. I am proud that I will be leading this talented and dedicated workforce to build on the strategy that Mary and our leadership team have set, which has allowed Axcelis to achieve market leadership in key growth markets. I believe my strong technical background will further enhance Axcelis' technology leadership and allow us to continue to deliver increased value to our customers and shareholders."

About Axcelis:

Axcelis (Nasdaq: ACLS), headquartered in Beverly, Mass., has been providing innovative, high-productivity solutions for the semiconductor industry for 45 years. Axcelis is dedicated to developing enabling process applications through the design, manufacture and complete life cycle support of ion implantation systems, one of the most critical and enabling steps in the IC manufacturing process. Learn more about Axcelis at www.axcelis.com.

CONTACTS:

Maureen Hart (editorial/media) 978.787.4266
Doug Lawson (investor relations) 978.787.9552

SOURCE Axcelis Technologies, Inc.

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