7 May 2020
Veeco announces governance and diversity improvements to board
Epitaxial deposition and process equipment maker Veeco Instruments Inc of Plainview, NY, USA has announced recent changes to its board of directors, including:
- John Peeler, chairman and former CEO, retiring from the board;
- Richard D’Amore, general partner of North Bridge Venture Partners and previously lead independent director, appointed as chairman; and
- Mary Jane Raymond, chief financial officer & treasurer of II-VI Inc, appointed to the Audit Committee.
Peeler previously announced his decision to step down as chairman & director of the board, effective 7 May. While chairman, Peeler helped increase the board’s diversity with the recruitment of Mary Jane Raymond, the second woman currently serving on the board, last November. Having led the CEO succession plan, which resulted in the promotion of William J. Miller Ph.D. to CEO in 2018, and believing that good governance calls for both an independent chairman and a properly sized board of directors, Peeler elected to retire from the 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 Veeco’s board for many years and has both a strong business background and considerable board experience, says Veeco. With D’Amore’s appointment as chairman, the role of lead independent director is discontinued.
Raymond joined Veeco’s board in conjunction with the firm’s board diversity initiative. A financial expert, currently serving as chief financial officer of engineered materials and optoelectronic component maker II-VI Inc, Raymond was recently appointed to Veeco’s Audit Committee. “With her strong executive financial background and technology industry experience, we look forward to her continued contributions to the board and Audit Committee,” comments Miller.