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Ultratech COO Resigns

John Denzel resigns, effective immediately.
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Ultratech's

(UTEK)

announced Thursday its chief operating officer, John E. Denzel, has resigned effective immediately.

Denzel will continue with the lithography systems supplier for a certain period of time reporting to CEO Arthur W. Zafiropoulo, who will assume COO responsibilities.

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"During the time John and I have worked together, I have come to respect him a great deal, both as a person and as a professional. His leadership and strong character have guided the organization through challenging times," Zafiropoulo said.

Shares of Ultratech were down 39 cents, or 2.9%, at $13.30 in recent after-hours trading Thursday.