Amtech Systems, Inc. (NASDAQ: ASYS) today announced the Company’s President, Fokko Pentinga, has been promoted to Chief Executive Officer and will retain his current position as President. Current CEO and Chairman of the Board, J.S. Whang, has been elected Executive Chairman and will retain his current position as Chairman of the Board. These changes will become effective January 1, 2012.
Fokko Pentinga has over 30 years' experience in the solar and semiconductor industries and with 17 years at Amtech has a deep knowledge and understanding of the Company. He has been a driving force of the Company’s solar strategy and its sales and operational success. Mr. Pentinga was instrumental in securing Amtech’s successful R&D partnership with Yingli Green Energy Holding Co., LTD (NYSE: YGE) and the Energy Research Centre of the Netherlands (ECN). He has been President of Amtech since March 2010, leading the Company to record breaking financial and operational results. Prior to being President of Amtech, Mr. Pentinga was Managing Director of Amtech Europe and General Manager of Tempress Systems, Inc, Amtech’s solar subsidiary.
These strategic changes are intended to bring heightened attention to all areas of the Company’s business, and to maximize success in executing Amtech’s overall growth strategy, with Mr. Pentinga focusing on the Company’s organic growth strategy, R&D and China strategy, and Mr. Whang focusing on its external growth strategy, including non-solar opportunities, as well as continuing to guide the company’s overall vision and strategy.
J.S. Whang commented, “This change is another step in furthering Amtech’s leadership as a technology solution provider and sharpens our focus on our growth objectives. We see the current environment as being favorable for expanding our technology and product portfolio and are focused on successful execution of our growth strategy. While I will assume the title of Executive Chairman, I will continue to share oversight of Amtech’s global operations.”
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