FormFactor, an advanced wafer probe card technology and design company, has announced that Mario Ruscev, chief executive officer (CEO), and Jean Bernard Vernet, senior vice president (SVP), chief financial officer (CFO), have both stepped down from their roles at the company.
The company has appointed Carl Everett Jr, current member of the board of directors, to the position of CEO and Richard DeLateur to the position of CFO. In addition, James Prestridge, who serves as the chairman of the board, will assist the new management team as part of the board’s oversight of the transition process.
The company’s new management plans to improve business execution, realign operating structure and expenses with current levels of business and focus on achieving profitable growth. In the immediate period ahead, FormFactor’s new management team will conduct a comprehensive review and analysis of the company’s growth opportunities.
Carl Everett, Jr is a veteran technology executive and has served as a director at
FormFactor since June 2001. As part of accepting this appointment, Everett will step down from the audit and compensation committees. Everett founded GCE Ventures and has served as a venture partner at Accel. He has held several management positions at Dell and Intel Corporation, one of which was SVP and general manager of the Microprocessor Products Group at Intel. Everett holds a BA in business administration and an honorary Doctorate of Laws from New Mexico State University.
DeLateur is a 20-year veteran of Intel’s finance team, including six years as vice president and group controller of worldwide technology and manufacturing. DeLateur more recently served as CFO at the private companies Fluidigm Corporation and Topsin Corporation. He had also served as a director at Numonyx, a privately held leading manufacturer of Flash memory, which was recently sold to Micron.
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