Cymer, Inc. (ticker: CYMI, exchange: NASDAQ Global Select Market (.O))
News Release -
Nancy Baker to Succeed William Angus as Cymer's CFO
SAN DIEGO, July 12 /PRNewswire/ -- Cymer, Inc. (Nasdaq: CYMI), the world's
leading supplier of excimer light sources used in semiconductor manufacturing,
today announced that William A. Angus, III, will step down as the company's
chief financial officer effective December 31, 2001. His position will be
filled by Nancy J. Baker, 39, who currently serves as Cymer's vice president
of finance and treasurer. Angus will continue to serve as Cymer's corporate
secretary until his retirement at the end of 2002.
Commenting on the announcement, Bob Akins, Cymer chairman and chief
executive officer, noted, "We believe in leveraging the high caliber of
management talent available to us internally whenever possible, to ensure the
orderly succession of key senior management. This planned transition will
allow the smooth transfer of duties from Bill to Nancy over a six-month
Akins continued, "Bill has been an integral member of Cymer's executive
team for the past 11 years. During this time, he has been instrumental in
helping Cymer grow from a small, entrepreneurial company to a global leader in
the semiconductor capital equipment industry. During his tenure here, Bill
has provided the company with strong financial leadership and strategic
guidance. Working closely with Nancy Baker, he has built a solid finance
department and Cymer is fortunate to have had a CFO of Bill's caliber during
these important growth years. We are also extremely pleased that he will
remain with Cymer in the capacity of corporate secretary through 2002."
Akins added, "Nancy has worked closely with Bill and I over the last
nine years, and is uniquely qualified to take on the duties of CFO. She has
outstanding leadership and motivational skills, and a deep understanding of
Cymer's business. She has the experience to enable her to develop in-depth
financial strategies to support Cymer's drive to achieve its corporate goals.
We look forward to working with Nancy in the coming years to help Cymer
continue to grow, and deliver the best products and service to our customers,
while enhancing shareholder value."
Angus led Cymer through its initial public offering and two subsequent
public financings while serving as senior vice president and chief financial
officer since February 1996. He joined the company in 1990 as vice president
of finance and administration.
Baker has served as vice president, finance and treasurer since June 1998.
During 2000, she headed the company's successful effort to implement a new ERP
system, which was implemented in San Diego in only six months, and globally in
only nine months. She served as director, corporate finance and treasurer
from October 1996 to June 1998. She joined Cymer as corporate controller for
worldwide operations in August 1992. Baker received a bachelor's degree in
accounting from the University of Texas at Austin in 1985 and completed the
Executive MBA Program at Harvard Business School in 1999.
Cymer, Inc. is the world's leading supplier of excimer laser illumination
sources, the essential light source for deep ultraviolet (DUV)
photolithography systems. DUV lithography is a key enabling technology, which
has allowed the semiconductor industry to meet the exact specifications and
manufacturing requirements for volume production of today's advanced
semiconductor chips. Further information on Cymer may be obtained from the
Company's SEC filings, the Internet at http://www.cymer.com or by contacting
the company directly.
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SOURCE Cymer, Inc.
CONTACT: investors, Terry Slavin, Director, Corp. Communications & IR,
of Cymer, Inc., 858-385-5232, or fax, 858-385-6090; or agency, Marie Labrie of
MCA, 650-968-8900, or fax, 650-968-8990, for Cymer, Inc./