new president and ceo; Ryding remains as board member and consultant:
Friday October 24 6:51 AM EDT
Company Press Release
Martin J. Reid to Succeed Dr. Geoffrey Ryding as
President and Chief Executive Officer of Ibis Technology
Corporation
DANVERS, Mass.--(BUSINESS WIRE)--Oct. 24, 1997--Martin J. Reid, 56, has been named
President, Chief Executive Officer and Director of Ibis Technology Corporation (Nasdaq:IBIS), the
leading supplier of SIMOX-SOI (Separation by IMplantation of OXygen/ Silicon-On-Insulator)
wafers to the semiconductor industry. Mr. Reid will assume the positions effective December 1,
1997 and will succeed Dr. Geoffrey Ryding, 55, who will remain on the Board of Directors and
continue to serve as a consultant to the Company.
Dr. Geoffrey Ryding, President and Chief Executive Officer, said: ''I have been involved in the
semiconductor industry for over 30 years and my primary focus has been on equipment
development. Now that the equipment development work at Ibis is largely completed, I am
delighted to turn over the reins of Ibis to Martin Reid. Martin's appointment as Chief Executive
Officer is consistent with the management requirements associated with the strategic change in
emphasis of Ibis' business to now focus on SIMOX-SOI materials and applications. Although I will
be pursuing other non-competitive opportunities in the area of equipment technology, I remain
committed to Ibis and will continue to give my full support to the Company.''
Richard Hodgson, Chairman of the Board of Ibis Technology Corporation, stated: ''We wish to
acknowledge the exceptional contributions of Dr. Geoffrey Ryding in establishing core
SIMOX-SOI technology as a viable candidate for mainstream commercial applications and Ibis as
a major player in the emerging global SOI marketplace. Ibis has been fortunate to enjoy the services
of Dr. Ryding, whose preeminence in the equipment industry is widely recognized, during the period
when the Company's primary focus was on the development of the Ibis 1000 implanter and related
technologies. All of us at Ibis wish him well in his diverse business activities going forward and are
very pleased that he has chosen to remain a Director.''
Martin J. Reid comes to Ibis with over 25 years experience in the semiconductor industry, where he
served most recently until July 1996 as President and Chief Executive Officer of Alpha Industries,
Inc. (AMEX:AHA), an approximately $100 million corporation. Over a period of 20 years at
Alpha, he helped increase the silicon semiconductor business ten-fold and started a new
Gallium-Arsenide (GaAs) integrated circuit technology which became the company's largest growth
area. Gallium-Arsenide material technology is used to fabricate monolithic circuits in the accelerating
wireless cellular telephone and personal communications markets. Mr. Reid also established Alpha
as a major supplier to leading worldwide OEM cellular telephone manufacturers. Beginning in July
of 1996, he assumed an advisory role at Alpha in which he focuses on business and strategic issues
related to the wireless and semiconductor technologies.
Mr. Reid continues to serve on the boards of directors of Alpha Industries, Inc. and Secure
Technologies, Inc. He is also an advisor to various companies on the latest emerging semiconductor
technology trends. Mr. Reid received both his BSEE and MSEM from Northeastern University and
is a member of IEEE and other IEEE professional groups.
Dr. Ryding continued: ''Martin has had a technologically diverse and successful career in growing
high technology businesses, has a strong understanding of technology trends and is ideally suited to
assume the executive leadership of Ibis. His experiences, accomplishments and leadership skills in
business and technology areas, which are closely related to Ibis' marketplace, mesh well with Ibis'
new challenges and opportunities as customers move into full scale commercial production utilizing
SIMOX-SOI wafers. I look forward with enthusiasm to Martin's contributions to our Company.''
Martin J. Reid, incoming President and Chief Executive Officer of Ibis Technology Corporation,
stated: ''I am honored to be joining Ibis at this stage in the Company's development. From my
perspective of over 25 years in the industry, I believe that the technology ''sweet spot'' the market
is seeking the ability to design high performance circuits that operate at high speeds and low
operating voltages is made possible by the unique advantages offered by Ibis' SIMOX-SOI
technology. Mainstream commercial applications have already been built or demonstrated on
SIMOX-SOI ranging from SRAMs and DRAMs to RF devices to gate arrays to integrated optical
circuits and much more. I look forward to working with Geoff and Ibis' other highly talented and
energetic professionals in realizing the potentials of SIMOX-SOI.''
''Safe Harbor'' Statement under the Private Securities Litigation Reform Act of 1995: The
statements contained in this press release which are not historical fact are forward-looking
statements based upon management's current expectations that are subject to risks and uncertainties
that could cause actual results to differ materially from those set forth in or implied by
forward-looking statements, including, but not limited to, product demand and market acceptance
risks, general economic conditions, the impact of competitive products, technologies and pricing,
equipment capacity and supply constraints or difficulties, the cyclical nature of the semiconductor
industry, and other risks described in the Company's Securities and Exchange Commission filings.
Ibis Technology Corporation is an advanced materials company which supplies SIMOX-SOI
wafers to the semiconductor industry. SIMOX-SOI wafers are silicon-on-insulator wafers which
enable the production of integrated circuits with significant advantages over circuits constructed on
bulk silicon or epitaxial wafers. The Company produces SIMOX-SOI wafers on advanced
proprietary Ibis 1000 oxygen implantation equipment, utilizing proprietary processing technologies
which the Company believes will enable it to produce SIMOX-SOI wafers for demanding high
volume commercial applications.
NOTE: Information about Ibis Technology Corporation and SIMOX-SOI is available on Ibis's
World Wide Web site on the Internet located at ibis.com.
Contact:
Timothy Burns
Ibis Technology Corporation
(508) 777-4247
or
Van Negris / John P. Kehoe
Kehoe, White, Savage & Company, Inc
(212) 888-1616 |
