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Imago loses CEO and a quarter of its workforce

15 August 2007 | By Síle Mc Mahon | Recruitment News

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Although the two incidents were claimed to be unrelated, the recent "restructuring" efforts by Imago Scientific Instruments saw 10 of the company's 45-strong staff base laid off at the same time as company CEO Timothy Stultz leaves the company to join Nanometrics as President and CEO (http://www.fabtech.org/content/view/3225/0/).

The reason for the downsize is cited as a "pre-emptive action to make sure that we continue to be profitable," said Emmanuel Lakios, former Senior Vice President who, since this recent announcement, has taken the mantle of President and COO. Co-founder Tom Kelly will become CEO.

Imago's recent past has been quite positive. 2006 saw the company receive $3.4 million in equity funding, with more planned for the foreseeable future. In the same year, the company moved to a bigger headquarters at the Fitchburg Technology Campus and bought Oxford NanoScience in England. The company has also recently launched two new products.

By Síle Mc Mahon