Veeco Announces changes to board
Former CEO John Peeler retires, Richard D’Amore takes the post of chairman, and CFO Mary Jane Raymond joins audit committee
Veeco Instruments has announced recent changes to its board. John Peeler, chairman and former CEO is retiring. Richard D’Amore, general partner of North Bridge Venture Partners and previously lead independent director, has been appointed as chairman. Mary Jane Raymond, CFO and treasurer of II-VI, has been appointed to the audit committee.
John Peeler previously announced his decision to step down as chairman and director of the board, effective May 7, 2020. While chairman, Peeler helped increase the board’s diversity with the successful recruitment of Mary Jane Raymond, the second woman currently serving on the Veeco board, in November 2019. Having led the company’s CEO succession plan, which resulted in the promotion of William J. Miller, to CEO in 2018, and believing that good governance calls for both an independent chairman and a properly sized board, Peeler elected to retire from the Veeco board.
Effective upon Peeler’s retirement, the board appointed Richard D’Amore, who the board has determined to be independent, to serve as chairman. D’Amore has been a general partner of North Bridge Venture Partners, an early-stage venture capital and growth equity firm, since its inception in 1994. D’Amore has served on the Veeco board for many years and brings both a strong business background and considerable board experience to Veeco. With D’Amore’s appointment as chairman, the role of lead independent director is discontinued.
“On behalf of the board, I would like to thank John for his many contributions to Veeco and his commitment and tireless efforts on our behalf,” commented D’Amore.
Raymond joined Veeco’s board in conjunction with the company’s board diversity initiative. A highly accomplished financial expert, currently serving as Chief Financial Officer of II-VI Incorporated, a global leader in engineered materials and optoelectronic components, Raymond was recently appointed to Veeco’s Audit Committee.
“Mary Jane has been a great recent addition to the Veeco board,” commented Dr. Miller. “With her strong executive financial background and technology industry experience, we look forward to her continued contributions to the board and Audit Committee. The recent changes to our board have improved diversity and enhanced independence in the best interests of our shareholders.”