Dr. Carl J. Johnson To Retire From Day-to-Day II-VI Operations; Will Remain Chairman Of The Board Of II-VI Incorporated

PITTSBURGH, May 18, 2010 (GLOBE NEWSWIRE) -- II-VI Incorporated (Nasdaq:IIVI) today announced the planned retirement of Dr. Carl J. Johnson from day-to-day Company operations effective as of May 31, 2010. Dr. Johnson will continue in his role as Chairman of the II-VI Board of Directors.

"This event will continue the management succession plan begun in May 2007, and will be a seamless transition for II-VI," said Francis J. Kramer, President and Chief Executive Officer. "Since he co-founded the Company in 1971, Carl has shaped the culture, the values, the strategic business and technical direction of II-VI. Under his leadership for those nearly 40 years, II-VI Incorporated has increased revenues from a few thousand dollars in 1971 to over $292 million in the fiscal year ended June 30, 2009. The Company has also grown from its initial two employees to over 6,000. Several times, II-VI earned the distinction of being among Business Week's list of the nation's Best Small Companies."

Dr. Johnson intends to maintain an active role as Chairman of the II-VI Board of Directors. "My objective will be to continue creating value for all II-VI stakeholders. My primary focus will be the strategic direction and corporate governance of the Company, and the oversight of some of our subsidiary companies," he said. "I have great confidence in our leadership and our employees to continue to uphold the high standards of II-VI."

II-VI History of Growth Under Dr. Johnson's Leadership

Dr. Johnson says he and the late James E. Hawkey co-founded the Company because "the infrared optical materials commercially available to the laser industry at the time were incapable of sustaining the kilowatt power demands being projected by emerging carbon-dioxide (CO2) laser developers."   They named their enterprise II-VI for Groups II and VI of the Periodic Table of Elements, the source of the basic materials -- Cadmium Telluride (CdTe) and Zinc Selenide (ZnSe) -- from which they would work. Their mission was to grow, fabricate and coat the world's highest-quality infrared optical materials, then manufacture, assemble and market a superior line of output couplers, lenses, windows and beam-splitters to CO2 laser original equipment manufacturers and end users.