Photronics Welcomes George Macricostas as Executive Chairman

Photronics Welcomes New Leadership

Photronics, Inc. (Nasdaq: PLAB), a global leader in photomask technology, recently appointed George Macricostas as the new Executive Chairman. This leadership change is expected to bring fresh perspectives and strengthen the company's strategic direction.

Experience and Background of George Macricostas

George Macricostas, who has an extensive background in technical and managerial roles, has been involved with Photronics since 2002 as a member of its Board of Directors. His deep knowledge of the company's operations and the photomask industry positions him uniquely to guide Photronics as it navigates future challenges.

A Proven Track Record in Technology

With over 30 years of experience in business operations, Mr. Macricostas boasts a successful history, including being the Founder and CEO of RagingWire Data Centers, Inc. Here, he played a crucial role in the company's substantial growth and ultimate sale to NTT in two phases, in 2014 and 2018. His prior experiences also include senior leadership roles within Photronics itself.

Strategic Changes in the Board

As part of this transition, the Board of Directors will see some changes in committee assignments. David Garcia, who joined the Board in December 2024, will take over Mr. Macricostas' previous roles in various committees. With this reshuffling, several Board members will now be classified as independent directors, enhancing the governance structure.

Momentum Towards Photronics’ Future

CEO Frank Lee expressed his enthusiasm about Mr. Macricostas' new role, noting that his leadership experience will greatly benefit the company as it moves forward. The anticipation is that Mr. Macricostas' enhanced involvement will directly contribute to Photronics’ growth in the dynamic photomask market.

Photronics: A Leader in Photomask Solutions

Founded in 1969, Photronics specializes in manufacturing photomasks that play a critical role in the production of integrated circuits and flat panel displays. As a trusted photomask supplier for over five decades, the company operates 11 manufacturing facilities strategically located across Asia, Europe, and North America. Their high precision quartz plates contain microscopic images essential for the IC and FPD manufacturing processes, making them a cornerstone of technological advancement.

Commitment to Innovation and Quality

Photronics is committed to pushing the boundaries of technology and providing the highest quality photomasks. As the industry evolves, the company's focus on innovation remains a priority, ensuring its products meet the demanding needs of the advanced semiconductor market.

Contacting Photronics for More Information

For those interested in learning more about Photronics and their developments in photomask technologies, they can reach out to Ted Moreau, VP of Investor Relations, at 469.395.8175. For inquiries via email, he can be contacted at tmoreau@photronics.com.

Frequently Asked Questions

Who is the new Executive Chairman of Photronics?

George Macricostas has been appointed as the Executive Chairman of Photronics.

What are the previous roles of George Macricostas at Photronics?

Before becoming Executive Chairman, George Macricostas served on the Board of Directors and held several key positions, including Chairman of the Compensation Committee.

What did George Macricostas achieve before joining Photronics?

He was the Founder and CEO of RagingWire Data Centers, guiding the company to successful sales to NTT in two phases.

How does the new leadership impact Photronics?

The appointment is expected to enhance Photronics' strategic direction and execution in the competitive photomask market.

Where can I find more information about Photronics?

More details about Photronics can be found by contacting their investor relations team or visiting their official website.

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