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Date Announced: 16 Nov 2012
Outgoing chief is replaced by former CEO Norm Pond.
SANTA CLARA, Calif.--(BUSINESS WIRE)--The Board of Directors of Intevac (IVAC) today announced that Kevin Fairbairn has resigned for personal reasons as the Company’s President and Chief Executive Officer and as a member of the Board of Directors, effective immediately.
The Board of Directors also announced it has appointed Norm Pond as Chief Executive Officer. Mr. Pond, a founder and former Chief Executive Officer of the company, will also continue as Chairman of the Board of Directors.
“We appreciate Kevin’s many contributions to Intevac and wish him well. We are fortunate that Norm, with his knowledge of the company, is available to assume the CEO role,” said David S. Dury, Lead Independent Director.
Mr. Pond further commented, “The Board and I firmly believe in Intevac’s future. We are committed to achieving success in our diversification efforts and to achieving sustained profitability and shareholder returns."
Source: Intevac
E-mail: via web site
Web Site: www.intevac.com
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