CHANDLER, Ariz.--(BUSINESS WIRE)--May 11, 1999--SpeedFam-IPEC, Inc. SFAM , a leading supplier of high-throughput chemical mechanical planarization (CMP) systems for the semiconductor industry and flat surface processing systems for the thin film memory disk media and silicon wafer industries worldwide, Tuesday announced the resignation of Roger K. Marach as chief financial officer and treasurer.
Marach joined SpeedFam International, Inc. in 1988 and subsequently managed the company's early-stage private financing; initial public offering in 1995 and two follow-on equity offerings in 1997, which in the aggregate raised a total of $230 million; and merger with Integrated Process Equipment Corp. (IPEC) in 1999. He now plans to pursue a new career as an independent financial consultant, as well as personal business ventures.
"Roger's executive leadership helped to transform SpeedFam from a privately held machine tool business into a public semiconductor equipment manufacturer," said James N. Farley, co-chairman of SpeedFam-IPEC. "Through four distinct phases in the history of the company, he ensured that we had the capital necessary to become a leading worldwide supplier of CMP systems."
"I want to thank Roger for his contribution to the planning and execution of the SpeedFam-IPEC merger and integration," said Richard J. Faubert, president and chief executive officer.
"We are now positioned to leverage the respective CMP technologies, products and customer bases of both companies to capitalize on the growth of the global semiconductor equipment market through the first decade of the next century."
According to Faubert, the company has developed a transition plan for the executive management of finance, accounting and treasury operations and has initiated a formal retained search for Marach's successor. Marach plans to remain in his position through the completion of the search to ensure an orderly transition of his responsibilities. |
