John Ambroseo has announced that he will retire as CEO of laser manufacturer Coherent by April 2021, after nearly 17 years in the position.
Coherent has entered into a transition services agreement with Ambroseo, who is also president of the company, pursuant to which Ambroseo will transition from being CEO no later than the 2021 deadline.
‘Throughout my nearly 17 years as CEO of Coherent, I always try to take the long view on the markets, technologies and the company,' said Ambroseo 'I believe this approach allows us to make better decisions benefitting all stakeholders, but this also requires a trade-off between professional and personal priorities. Having considered this, I want to shift my long-term attention to my family and philanthropic pursuits. As a result I have worked with my fellow directors on the board on how to best manage a leadership transition, which I am fully committed to making as smooth as possible. Until a transition occurs I remain fully focused on our customers and the company.’
‘On behalf of the board I would like to acknowledge and thank John for his many contributions and strong leadership of the company to date. The board is appreciative of John’s willingness to provide us with up to a two-year runway, which enables us to move forward promptly with a thorough search and provide sufficient overlap to best position John’s successor to build upon our solid foundation to take Coherent to the next level,’ said Garry Rogerson, Coherent’s chairman of the board.
The governance and nominating committee of the board of directors will lead a global search for Mr Ambroseo’s successor.
