BEVERLY, Mass., Aug. 26, 2014 /PRNewswire/ -- Axcelis Technologies, Inc. (Nasdaq: ACLS) announced that its Board of Directors has approved a modification to the Company's Governance Policies, effective August 22, 2014, which states that "no Director who has reached the age of 75 or will reach that age on or before the date of the next annual shareholders' meeting will be nominated for election at that meeting." As a result of this modification, certain directors of the Company will not be nominated for re-election at the Company's 2015 Annual Meeting of Stockholders.
"This announcement is a part of our continuing efforts to ensure our corporate governance framework is in line with current best practice," said Chairman and CEO Mary Puma. "In addition, this modification represents a continuation of our Board Succession plan that began with the election of Joseph P. Keithley in 2011 and continued with Arthur L. George, Jr. and Barbara J. Lundberg at the May 2014 Annual Stockholder Meeting."
The directors affected by this policy and who will not be nominated for re-election at the Company's 2015 Annual Meeting of Stockholders are Stephen R. Hardis, William C. Jennings and H. Brian Thompson.
Axcelis (Nasdaq: ACLS), headquartered in Beverly, Mass., has been providing innovative, high-productivity solutions for the semiconductor industry for over 35 years. Axcelis is dedicated to developing enabling process applications through the design, manufacture and complete life cycle support of ion implantation systems, one of the most critical and enabling steps in the IC manufacturing process. Learn more about Axcelis at www.axcelis.com.
Doug Lawson (investor relations) 978.787.9552
Maureen Hart (editorial/media) 978.787.4266
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SOURCE Axcelis Technologies, Inc.