IPG Photonics Announces Leadership Transition - Seite 2

“For more than three decades I have been committed to the growth and success of IPG, and it has been an honor to serve as CEO,” Dr. Scherbakov stated. “During the search process, it became clear that Dr. Gitin possessed a unique combination of relevant scientific expertise and a proven ability as a successful operator in our industry. We are thrilled to have secured Dr. Gitin as our next CEO, and I look forward to helping him to make this transition seamless for our customers and other stakeholders.”

“I have long-admired IPG as an industry leader that has consistently been able to deliver innovative laser products while maintaining a strong reputation and identity as a science-led organization,” said Dr. Gitin. “I look forward to getting to work and helping drive this next phase for the Company. I would also like to thank the members of the Board, and especially Dr. Scherbakov, both for how welcoming they have been throughout this process and for their trust in me in this role.”

More About Mark Gitin
Dr. Gitin currently serves as Executive Vice President and General Manager, Photonics Solutions Division of MKS Instruments, Inc. Dr. Gitin joined MKS in September 2017 as Vice President and General Manager of the Photonics Business Unit and in 2018, also assumed responsibility for the Instruments and Motion Business Unit. At MKS, Dr. Gitin was recruited to help drive the integration of the Newport Corporation acquisition. Under Dr. Gitin’s leadership, the business grew substantially in both revenue and profitability.

Prior to joining MKS, from March 1995 to September 2017, Dr. Gitin held various management positions covering a wide range of technologies at Coherent, Inc., including Vice President of Strategic Marketing, Vice President of Business Development, and Vice President and General Manager of the Diodes, Fibers and Systems Business Unit.

Dr. Gitin holds a B.S. in Electrical Engineering from the University of California, Davis and an M.Eng. and Ph.D. in Electrical Engineering from Cornell University. He has been issued five patents and has published peer-reviewed articles on lasers and opto-electronic technologies.

Investor Contact
Eugene Fedotoff
Senior Director, Investor Relations
IPG Photonics Corporation
508-597-4713
[e-mail]

Media Contact
Dan Zacchei / Joe Germani
[e-mail]

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.