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News Article

II-VI chairman stays on board

II-VI announced the planned retirement of Dr. Carl J. Johnson from day-to-day Company operations from May 31, 2010.

Dr. Johnson willcontinue in his role as Chairman of the II-VI Board of Directors. "This event will continue the management succession plan begun in May 2007, and will be a seamless transition for II-VI," said Francis J. Kramer, President and CEO.

"Since he co-founded the Company in 1971, Carl has shaped the culture, the values, the strategic business and technical direction of II-VI. Under his leadership for those nearly 40 years, II-VI Incorporated has increased revenues from a few thousand dollars in 1971 to over $292 million in the fiscal year ended June 30, 2009. The Company has also grown from its initial two employees to over 6,000. Several times, II-VI earned the distinction of being among Business Week's list of the nation's Best Small Companies."

Dr. Johnson intends to maintain an active role as Chairman of the II-VI Board of Directors. "My objective will be to continue creating value for all II-VI stakeholders. My primary focus will be the strategic direction and corporate governance of the Company, and the oversight of some of our subsidiary companies," he said. "I have great confidence in our leadership and our employees to continue to uphold the high standards of II-VI."

The company has remained profitable every year since. In 1987, the Company went public on the NASDAQ Stock Exchange when revenues were approximately $10 million. Francis J. Kramer was appointed President in 1985 and Dr. Johnson served as CEO until 2007.

The II-VI global era began in 1988 with the establishment of manufacturing operations in Singapore. By 1996, the Company also was manufacturing in China and by 2005 had established its manufacturing footprint in Vietnam. Through acquisitions of Pacific Rare Specialty Metals and Chemicals (2007) and HIGHYAG Lasertechnologie GmbH (2008), the Company acquired manufacturing capacity in the Philippines and Germany, respectively.

In 2009, II-VI and Beijing Supower Science and Technology Developing Co., Ltd. formed a joint venture, Langfang Haobo Diamond Co. to produce Diamond (C) substrates for industrial-grade applications. In January 2010, II-VI completed the acquisition of Photop Technologies, of Fuzhou, China. The Company opened direct sales offices in Japan, the United Kingdom and China in the 1990s to be followed by offices in the Benelux countries, Italy and acquired distributors in Germany and Switzerland.

 
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