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Emcore completely reshuffles Board of Directors

The company will take on three new Board members, while three of its current members will either retire or not stand for re-election
Emcore Corporation announced that on December 3rd, 2013, Thomas Russell informed the company of his decision to not stand for re-election at the end of his term, which expires at the company's 2014 Annual Meeting of Shareholders.

On the same day, John Gillen also informed the company that he would retire at the 2014 Annual Meeting of Shareholders.

Concurrently, Emcore also announced that Reuben F. Richards, the Chairman of Emcore's Board of Directors, has been re-appointed to the Board's Class C directors. Richards was formerly a Class A director.

Richards also informed the company on December 3rd, 2013 that he would not stand for re-election at the company's 2015 Annual Meeting of Shareholders and that he will step down as Chairman of the Board at the 2014 Annual Meeting of Shareholders but will remain Chairman Emeritus until the 2015 Annual Meeting of Shareholders at which time he will step down from the Board.

Russell acquired Emcore's majority interest and served as its Chairman of the Board in 1995. His vision, passion and strong support enabled Emcore to become a leader of the MOCVD platform and become a public company in 1997.

Throughout the years, Russell has been instrumental in providing strategic and corporate governance which allowed Emcore to transform from a single-product start-up to a big player in compound semiconductor technology and applications.

In particular, Russell's passion in advanced solar cell technology is the single and foremost reason that Emcore has become a pioneer in space photovoltaics . He became Chairman Emeritus in 2008. Russell currently is Chairman of the Board's Nominating Committee and also its Strategy and Technology Committee.

Gillen was appointed to the Board of Directors in 2003. He is currently Chairman of the Board's Compensation Committee and also is a member of the Board's Audit Committee.

Hou, President and CEO of the Company, states, "On behalf of Emcore, I would like to thank Dr. Russell and Mr. Gillen for their exceptional service and commitment to the Company. Both men have been instrumental in Emcore's transformation and have made significant contributions to the Company's strategic direction and governance over the years. We will miss their experience and advice, but wish them all the best in their future endeavours."

Emcore Corporation has also appointed three new members to its Board of Directors.

The company reached a settlement agreement with Becker Drapkin Management, L.P. and its affiliated funds. As a result, Steven R. Becker, Stephen Domenik and Gerald Fine have been appointed to the Board, effective December 9th, 2013.

Becker has been a partner at Becker Drapkin Management since 2004. He currently serves on the Board of Tuesday Morning, a national close-out retailer, Pixelworks, Inc., a semiconductor company, and Special Diversified Opportunities .

Steven R. Becker previously served on the board of directors of Plato Learning, Inc., a provider of education services and training, Ruby Tuesday, Inc., the operator of a chain of casual dining restaurants, and Hot Topic, Inc., a national retailer. Becker holds a B.A. from Middlebury College and a J.D. from the University of Florida.

Stephen Domenik has been a General Partner with Sevin Rosen Funds, a venture capital firm, since 1995. He was appointed to the Board of Directors of MoSys, Inc. in June 2012, a publicly traded IP-rich fabless semiconductor company, and currently sits on the boards of various private companies.

Domenik previously served on the Board of Directors of NetLogic Microsystems, Inc., a publicly traded fabless semiconductor company, from January 2001 until it was acquired by Broadcom Corporation in February 2012. During his tenure at Sevin Rosen Funds, Domenik led numerous investments in private companies. He holds a B.S. in Physics and M.S.E.E. from the University of California at Berkeley.

Gerald Fine has been a Professor of Practice and Director at the Engineering Innovation Centre of Boston University since 2012. From 2008 to 2011, Fine was President and CEO of Schott North America and led operations of all Schott AG businesses in North America, including solar, pharmaceutical packaging, electronic packaging, and lighting and imaging and advanced materials.

Fine also served as Executive Vice President, Photonic Technologies for Corning Incorporated. He previously served on the Board of Directors of CyOptics, Inc. a semiconductor laser manufacturer for telecom applications, Crystal IS, Inc., a UV LED substrate manufacturer, Kotura, Inc., a provider of silicon components for datacom and telecom, and Pixtronix, Inc. a provider of low-cost displays for portable devices. Gerald Fine holds a B.A. from Amherst College and Ph.D from California Institute of Technology.



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