Axcelis Announces Appointment of New CFO

January 11, 2011 at 8:03 AM EST
Jay Zager to Succeed Retiring CFO, Stephen Bassett

BEVERLY, Mass., Jan 11, 2011 (GlobeNewswire via COMTEX) --

Axcelis Technologies, Inc. (Nasdaq:ACLS) today announced the appointment of Jay Zager as executive vice president and chief financial officer, effective January 15, 2011. Jay Zager succeeds current CFO Stephen Bassett, who is retiring at the end of March 2011. Mr. Bassett will retain the title of executive vice president, finance until his retirement. The two will work closely together until this time to ensure a seamless transition.

Zager brings over three decades of experience with global high technology firms to Axcelis. Prior to joining the company, Zager was executive vice president and chief financial officer at 3Com Corporation, an enterprise networking solutions provider. Before this, he served as executive vice president and chief financial officer at Gerber Scientific, Inc., a leading supplier of automated manufacturing systems and as senior vice president and chief financial officer at Helix Technology Corp., a supplier to the semiconductor equipment industry. Zager holds an M.S. degree in Finance and Strategic Planning from the Sloan School of Management, Massachusetts Institute of Technology and a B.S. degree in Operations Research from the Massachusetts Institute of Technology.

"We are very pleased to have someone with Jay's skills and depth of experience join the organization," commented Mary Puma, chairman and CEO of Axcelis. "He has a wealth of expertise in financial management as well as proven leadership capabilities that will be a great asset as we capitalize on the many exciting opportunities that lie ahead of us." She added, "I would like to thank outgoing CFO Steve Bassett for his substantial contributions to the Company. He provided exceptional financial leadership during a pivotal time in our history, positioning us for strong growth and profitability."

Axcelis Technologies, Inc. (Nasdaq:ACLS), headquartered in Beverly, Massachusetts, provides innovative, high-productivity solutions for the semiconductor industry. Axcelis is dedicated to developing enabling process applications through the design, manufacture and complete life cycle support of ion implantation and cleaning systems. The company's Internet address is: www.axcelis.com.

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SOURCE: Axcelis Technologies, Inc. 

CONTACT: Maureen Hart (editorial/media)
978.787.4266
Stephen Bassett (financial community)
978.787.4000