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Michael J. Luttati resigns as Photronics CEO
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Michael J. Luttati (pictured), CEO of Photronics since May 2005, has
announced his resignation from the role and from his seat on the Board
of Directors with immediate effect. Mr. Luttati, who joined Photronics
from a role as COO and Executive Vice President at Axcelis
Technologies, will remain as a consultant to the Company to aid in the
transition.
The role of interim CEO will be filled by Photronics’ Chairman of
the Board of Directors, Constantine ("Deno") Macricostas, who had held
the role of CEO prior to Mr. Luttati’s appointment to the role. The
company has initiated a search for a new permanent CEO.
“We
want to thank Mike for his valuable contributions to the Company over
the years and wish him and his family well in their future endeavors,”
said Mr. Macricostas, interim CEO for Photronics. “Mike represented and
served the Company admirably in his tenure as CEO, and set in place
strategic initiatives that position the Company for long-term growth.
After assessing the future direction of the Company, the Board of
Directors and Mike mutually agreed that this was an appropriate time to
make a change in leadership.”
Photronics is a worldwide manufacturer of photomasks.
By Síle Mc Mahon