SANTA CLARA, Calif.--(BUSINESS WIRE)--
Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film processing
systems and digital night-vision technologies, today announced that
Norman H. Pond, Founder and Chairman of the Board, has informed the
Company that he is retiring as Chairman and as a member of the Board of
Directors, effective August 16, 2017. Mr. Pond, 78, has served as
Chairman of the Board since Intevac's founding in 1991, and as Chief
Executive Officer from 1991 until 2000, September 2001 until January
2002, and November 2012 until July 2013.
Norm Pond founded Intevac in 1991 as a spin-out from Varian Associates.
Prior to founding Intevac, Mr. Pond served as the President of Varian
Associates and previously was a Group Executive at Teledyne. Mr. Pond
previously served on the boards of Varian Associates and Ebara
Technology. Mr. Pond holds a BS in physics from the Missouri Institute
of Science and Technology and an MS in physics from the University of
California at Los Angeles. He is the author of The Tube Guys
(2008), the first book on the history of microwave tubes and how their
impact has been essential to our nation's defense.
David S. Dury will succeed Mr. Pond as Chairman of the Board of
Directors. Mr. Dury is the former chief financial officer of Aspect
Development and co-founder of Mentor Capital Group, and joined the
Company's Board of Directors in 2002. Mr. Dury stated, "Norm Pond is a
visionary technologist, a pioneer of magnetic media sputtering systems
that produce the majority of hard drive disks sold today, as well as
digital night-vision technologies that have become the de facto standard
for digital night vision for the U.S. military and foreign nations. His
experience and wisdom have been tremendous assets to the Company. While
his contributions will be missed on our Board, we all wish him the very
best in his much-deserved retirement."
Mr. Pond stated, "I want Wendell and all of the employees of Intevac to
know that I am extremely proud of what they have accomplished in
building two world-class, market-leading businesses, and I know the
Company has a very bright future ahead."
Intevac was founded in 1991 and has two businesses: Thin-film Equipment
In our Thin-film Equipment business, we are a leader in the design and
development of high-productivity, thin-film processing systems. Our
production-proven platforms are designed for high-volume manufacturing
of substrates with precise thin film properties, such as the hard drive
media, display cover panel, and solar photovoltaic markets we serve
In our Photonics business, we are a recognized leading developer of
advanced high-sensitivity digital sensors, cameras and systems that
primarily serve the defense industry. We are the provider of integrated
digital imaging systems for most U.S. military night vision programs.
For more information call 408-986-9888, or visit the Company's website
View source version on businesswire.com: http://www.businesswire.com/news/home/20170821005773/en/
James Moniz, 408-986-9888
Chief Financial Officer
Source: Intevac, Inc.
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