31 May 2016

Rubicon appoints new independent director

Rubicon Technology Inc of Bensenville, IL, USA (which makes monocrystalline sapphire substrates and products for the LED, semiconductor and optical industries) has appointed a new independent director, Timothy E. Brog, president of Locksmith Capital, to its board, expanding it to six members (five of whom are independent).

"He is an accomplished executive, with extensive investment, legal, management and financial experience – as well as a strong track record of driving change as a member of public company boards, serving on director slates of both management and activist shareholders," says chairman Don N. Aquilano. "We welcome his insights as we pursue the appropriate path forward to drive long-term stockholder value. Timothy brings valuable new perspectives to our board, and his appointment is consistent with our commitment to maintaining a highly qualified board with the necessary skills and expertise to navigate the current environment."

"I look forward to leveraging my experiences to work with the board and management team to implement necessary change and maximize stockholder value as I have in previous situations with an array of public and private companies," says Brog. "I am excited to work with Rubicon as we continue to strengthen the company's existing platform, capitalize on new market opportunities, and position Rubicon for the future."

Prior to Locksmith Capital Management, Brog served as chairman of the board of Peerless Systems Corp from June 2008 to February 2015, CEO from August 2010 to March 2015 and a director beginning in July 2007. He served as a managing director and portfolio manager to Locksmith Value Opportunity Fund LP from September 2007 to August 2010. He was managing director of E2 Investment Partners LLC - a special-purpose vehicle to invest in Peerless - from March 2007 to July 2008. Previously, he was president of Pembridge Capital Management LLC and the portfolio manager of hedge fund Pembridge Value Opportunity Fund LP from June 2004 to September 2007. Brog also worked as managing director of boutique investment bank The Edward Andrews Group Inc from 1996 to 2007, and from 1989 to 1995 he was a corporate finance and mergers & acquisitions associate of law firm Skadden, Arps, Slate, Meagher & Flom LLP.

Brog is currently a director of Eco-Bat Technologies Ltd and has previously served as chairman of the board and chairman of the audit committee of Deer Valley Corp from October 2014 to April 2015 and as a member of the board of directors of Topps Company Inc from July 2006 to October 2007. 

Tags: Rubicon Sapphire substrates

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