- Push-out Score determined
- After almost seven years in the position
- Praise and thanks for Kirlin
- Deno Macricostas taking over temporarily
- Search for a successor
(exechange) — Brookfield, Connecticut, March 14, 2022 — Peter Kirlin, chief executive of Photronics, leaves. As announced by Photronics Inc. in a news release and in a regulatory filing published on Monday, March 14, 2022, Peter S. Kirlin has left his post as chief executive officer at the manufacturer of integrated circuit (IC) and flat panel display (FPD) photomasks, after almost seven years in the role, effective March 11, 2022.
Photronics will undertake a search for a successor.
Peter Kirlin’s duties as CEO will be taken over temporarily by Constantine S. (Deno) Macricostas, most recently Chairman of the Board of Directors at Photronics Inc., as interim Chief Executive Officer.
Deno Macricostas is about 25 years older than Peter Kirlin.
Peter Kirlin’s move coincides with a management shake-up also involving the position of President.
“To pursue other interests”
The management change is explained as follows. Photronics said: “Peter Kirlin is retiring to pursue other interests after a successful fourteen-year tenure with the company.”
Precise information regarding Peter Kirlin’s future plans was not immediately available.
“Retired”
Photronics said: “On March 10, 2022, Peter S. Kirlin retired as Chief Executive Officer and resigned as a member of the Board of Directors (the “Board”) of Photronics, Inc. (the “Company”) effective March 11, 2022, to pursue other interests.”
“Not a result of any disagreement”
“Dr. Kirlin’s retirement is not a result of any disagreement with the Company on any matters relating to the Company’s operations, policies or procedures,” Photronics said.
Share price increase since March 2017
The announcement follows an increase in Photronics Inc.’s share price of 54% since March 2017.
In the position of CEO since 2015
Peter Kirlin became CEO of the Company in 2015.
Peter S. Kirlin joined Photronics in August 2008 as Senior Vice President, US and Europe.
Kirlin became Chief Executive Officer in May 2015 after having been named President in 2013.
Prior to joining Photronics, Kirlin, a 35-year veteran of the photomask and semiconductor industries, held several senior leadership positions of increasing responsibility.
Kirlin was Vice President of Business Development at Entegris, a developer, manufacturer, and supplier of liquid and gas delivery systems, components, and consumables used in the semiconductor manufacturing process; Chairman and Chief Executive Officer of DuPont Photomasks; and Group Vice President of ATMI, a supplier of ultra-high purity materials and services used in the manufacture of semiconductors.
Kirlin also was Executive Chairman of the privately-held firm Akrion, Inc., a provider of surface preparation solutions to the semiconductor and electronics industries.
Kirlin was Executive Chairman of Akrion, Inc. from January 2007 to July 2008.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Peter Kirlin’s move on a scale of 0 to 10.
exechange reached out to Photronics and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 12.2022 ($).