Hope they nail anyone involved in any options scam......
Veteran Brooks Automation directors Khoury and Emerick step down
Friday May 19, 3:09 pm ET
Two directors resigned from the board of semiconductor equipment and software maker Brooks Automation Inc. this week amid news of a late quarterly filing, a default notice from bondholders and Brooks' plan to restate some earnings for the years fiscal 1999 through fiscal 2005.
Amin J. Khoury and Roger D. Emerick resigned from the board of the Chelmsford, Mass.-headquartered Brooks (Nasdaq: BRKS - News) on May 17, and the company tapped Joseph R. Martin as board chairman. Martin retired earlier this month from a vice chairmanship post at Fairchild Semiconductor Corp. in South Portland, Maine.
Khoury and Emerick had been directors since before Brooks' IPO in 1995. Following their resignations, Brooks' board and executive team will consist only of people who joined the company in 2001 or later. The two directors also plan to renounce their stock options and restricted stock awards, Martin said in a statement.
"They hope, by taking these proactive steps, that Brooks' current officers and directors will be able to manage the company without being distracted by questions concerning events occurring in this earlier period," said Martin. "We thank Amin and Roger for the time and effort they have devoted to Brooks and their willingness to put the interests of the company first."
This month, Brooks announced preliminary second quarter profits of $5.9 million on sales of $169.2 million.
Published May 19, 2006 by the Boston Business Journal |
