John Roush Assumes Duties as Chief Executive Officer of GSI Group Inc.

Date Announced: 15 Dec 2010

Company Plans to Implement 1-for-3 Reverse Stock Split by End of 2010.

BEDFORD, Mass., Dec. 15, 2010 /PRNewswire-FirstCall/ -- GSI Group Inc. (Pink Sheets:LASR.pk - News) (the "Company" or "GSI") today announced that on December 14, 2010 John Roush assumed his duties as the Company's new Chief Executive Officer. The Company had previously announced that Mr. Roush, 45, would become GSI's Chief Executive Officer by early 2011. Mr. Roush comes to GSI after a successful 12-year career with PerkinElmer, Inc., where he served in several senior leadership positions, most recently as president of PerkinElmer's $1.2 billion Environmental Health business, which supplies instrumentation to laboratory and scientific markets. Mr. Roush succeeds Michael E. Katzenstein, who has served as the Company's interim principal executive officer since May 2010.

"John Roush is a technology executive with a record of exceptional accomplishment. He is superbly qualified to assume the CEO role at GSI, and we are very fortunate to have attracted such an exceptional individual to lead the Company," said Chairman of the Board Stephen W. Bershad. "The Board of Directors sought an individual who possessed the leadership skills to advance the Company to its full potential and John's experience and personal attributes matched our criteria precisely," added Bershad.

"I am very excited to assume the leadership reins at GSI. It is an honor for me to have been selected as the Company's CEO, and I am greatly encouraged by the prospects for future growth and development. We have a tremendous opportunity to advance our position in the markets where the Company operates and capitalize on our core strengths," said Roush.

"I would also like to acknowledge the fine work from Mike Katzenstein and the FTI restructuring team and their efforts and contributions in providing their expertise and leadership through this challenging transitional period," said Bershad.

GSI also announced that the Company's Board of Directors has approved a 1-for-3 reverse stock split, which the Company expects to become effective by the end of 2010. The Company's shareholders had previously approved the reverse stock split at the annual and special meeting of shareholders on November 23, 2010. The Company intends to file an application to list its common shares on the NASDAQ Global Market by the end of 2010, and expects that NASDAQ will make a decision on the Company's application by the end of January 2011.

Source: GSI Group

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