Upon reviewing the latest press release from Onto Innovation Inc. (NYSE: ONTO), significant changes have been observed in the company's leadership team. Dr. Stephen Schwartz, with over 25 years of leadership experience in high technology companies, has joined the company's board of directors.
Dr. Schwartz currently serves as the President and CEO of Azenta, Inc. (formerly Brooks Automation, Inc.), where he has been since October 2010. His extensive background in technical leadership and his experience in leading companies operating in the semiconductor industry and life sciences make him a valuable addition to Onto Innovation's board.
Under Dr. Schwartz's leadership, Brooks Automation underwent a significant transformation, separating its business into two companies, Azenta and Brooks Automation, operating in the life sciences market and semiconductor industry, respectively. Dr. Schwartz announced his plans to retire from Azenta upon the appointment of his successor in May 2024.
Christopher Seams, Chairman of Onto Innovation's board of directors, expressed confidence in Dr. Schwartz's appointment, highlighting his impressive history of CEO experience and his ability to provide valuable insights to the board.
In response to his appointment, Dr. Schwartz expressed his optimism about Onto Innovation's strategic positioning, especially in supporting the latest artificial intelligence (AI) trends within the semiconductor industry. He emphasized the company's focus on collaborative partnerships and its ability to deliver innovations that improve yield and reduce costs.
Mike Plisinski, CEO of Onto Innovation, also welcomed Dr. Schwartz's appointment, highlighting his unique perspective as someone with experience in both the semiconductor and industrial company domains.
Onto Innovation is a leader in process control, offering an expanded portfolio of leading-edge technologies that cover un-patterned wafer quality, 3D metrology, defect inspection of wafers and packages, factory analytics, and lithography for advanced semiconductor packaging. The company's connected thinking approach aims to help solve customers' most difficult yield, device performance, quality, and reliability issues.
The addition of Dr. Schwartz to Onto Innovation's board of directors is expected to bring a fresh perspective and valuable insights as the company focuses on its transformation and future growth within the semiconductor process control industry. Following these announcements, the company's shares moved 3.9%, and are now trading at a price of $238.04. For more information, read the company's full 8-K submission here.
