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18 May 2007


Veeco appoints John Peeler as CEO; receives Q1 orders of almost $11m for K-Series MOCVD systems

Veeco Instruments Inc of Woodbury, N.Y. USA has appointed John R. Peeler as its new chief executive officer. Peeler, 52, is set to succeed Edward H. Braun in the role early in July, and will be appointed to the Veeco Board within thirty days of his start. Braun, 67, will continue as chairman of the board.

Peeler joins Veeco from JDSU, where he was president of the company's Communications Test and Measurement business. Prior to JDSU, Peeler was CEO of Acterna Inc, which was acquired by JDSU in 2005. He joined Acterna's predecessor in 1980, where he helped build an engineering organization that has been granted more than 175 technology patents. Peeler has a B.S. degree in Electrical Engineering from the University of Virginia, where he graduated with a high distinction. He has since received the Virginia Governor's Fellowship, and earned a masters degree in Electrical Engineering, also from the University of Virginia.

"I see in Veeco great breadth of technology and strong growth opportunities. I want to thank Ed and the Board for their confidence in me. I look forward to working with them to deliver value to Veeco's shareholders, excellence to our customers and additional opportunities for growth and success for our employees," said Peeler.

Picture: John Peeler joins Veeco as CEO in July.

Veeco's lead director, Irwin H. Pfister, added: "John possesses the experience, leadership and vision to guide Veeco forward, and Ed's perspective and industry acumen will greatly benefit Veeco as he continues in the role of Chairman. The Board will work closely with John, Ed and Veeco's senior management team as Veeco enters a new phase of its growth."

Shortly before the announcement of Peeler's appointment, Veeco said it had received multiple orders for its new, next-generation K-Series line of TurboDisc MOCVD Systems totaling almost $11m in Q1/2007, adding that the orders came from HB-LED manufacturers in Europe and Asia.

Piero Sferlazzo, VP and GM of Veeco's MOCVD Operations, said: "As our customers continue to ramp their production capacity of HB-LEDs for growing applications such as automotive, architectural lighting and backlighting for laptops, these orders are evidence of their confidence in our new K-Series platform."

According to Sferlazzo, the new K-Series modular system, which is extendable to larger reactors, is the only automated MOCVD system available.

See related items:

Veeco’s boom in MOCVD orders driven by LED market

Veeco launches MOCVD production platform for HB-LED manufacturers and receives $10m in orders

Veeco plans leadership succession