Photronics, Inc. (NASDAQ: PLAB), a global leader in photomask technologies and solutions, has announced the appointment of George Macricostas as the new Executive Chairman, effective January 6, 2025. With over 30 years of technical and management experience, Mr. Macricostas has been a member of the Photronics board of directors since 2002.
In light of this appointment, Mr. David Garcia will succeed Mr. Macricostas in his committee assignments. As a result, both George Macricostas and Constantine “Deno” Macricostas will no longer be considered independent directors, resulting in a board of directors of nine, six of whom are independent.
George Macricostas, the new Executive Chairman, brings extensive business experience and knowledge of the photomask industry to guide the company's growth and operations into the future. His appointment has been endorsed by Photronics CEO Frank Lee, who expressed confidence in Mr. Macricostas's leadership and vision for the company's future direction.
Photronics, a trusted photomask supplier for over 50 years, operates 11 strategically located manufacturing facilities in Asia, Europe, and North America. This move marks a significant transition in the company's leadership, as George Macricostas takes on a pivotal role in steering Photronics' future trajectory. Today the company's shares have moved -2.8% to a price of $23.53. If you want to know more, read the company's complete 8-K report here.
