MILPITAS, Calif., May 24, 2017 (GLOBE NEWSWIRE) -- Nanometrics Incorporated (NASDAQ:NANO), a leading provider of advanced process control systems, today announced that its president and chief executive officer, Dr. Timothy J. Stultz, has notified the company of his plans to retire. The company has retained Spencer Stuart to identify a successor. Dr. Stultz will continue as CEO until his successor is named, assist with a seamless transition, and continue to serve as a director of the company.
Since joining Nanometrics in 2007, Dr. Stultz led a successful turnaround of the company and a new era of market leadership, growth and outperformance within the semiconductor capital equipment industry.
Dr. Stultz commented, "As I complete my 10th year at Nanometrics and look forward to my 70th birthday, I decided in consultation with the Board that now is the time to initiate the transition to new leadership of the company. Today, Nanometrics is one of the most relevant and enabling companies in the industry. Every major semiconductor manufacturer in the world depends on us for process control of their most advanced device types. Nanometrics is in a terrific position to identify a new CEO to lead its next phase of growth, and I look forward to continuing with the company during the transition period, and as a director."
Chairman Bruce C. Rhine said, "The Board extends its deep appreciation to Tim for his outstanding leadership during his tenure. Over the last ten years, Tim has built a world-class team that, under his leadership, established a leading market position in the industry, became a trusted partner solving difficult problems for its customers, and created substantial shareholder value. He developed a company culture of respect, hard work and integrity that represents a strong foundation for future growth. His leadership leaves us with a strong pipeline of new technologies and market opportunities, and we look forward to Tim's continued leadership as we execute our succession plan, and appreciate his willingness to serve in an advisory capacity during the transition."
Nanometrics is a leading provider of advanced, high-performance process control metrology and inspection systems used primarily in the fabrication of semiconductors and other solid-state devices, including sensors, optoelectronic devices, high-brightness LEDs, discretes and data storage components. Nanometrics' automated and integrated metrology systems measure critical dimensions, device structures, topography and various thin film properties, including three-dimensional features and film thickness, as well as optical, electrical and material properties. The company's process control solutions are deployed throughout the fabrication process, from front-end-of-line substrate manufacturing, to high-volume production of semiconductors and other devices, to advanced three-dimensional wafer-level packaging applications. Nanometrics' systems enable advanced process control for device manufacturers, providing improved device yield at reduced manufacturing cycle time, supporting the accelerated product life cycles in the semiconductor and other advanced device markets. The company maintains its headquarters in Milpitas, California, with sales and service offices worldwide. Nanometrics is traded on NASDAQ Global Select Market under the symbol NANO. Nanometrics' website is http://www.nanometrics.com.
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