II‐VI Inc. (NASDAQ: IIVI) reveals that current Chairman of the Board Francis J. Kramer will become Chair Emeritus while continuing as a director immediately upon conclusion of the annual meeting of II-VI shareholders in November 2021. Current CEO and Director Dr. Vincent D. Mattera, Jr. will assume the role of chairman at that time.
Rear Admiral Marc Y.E. Pelaez (retired) will continue to serve as lead independent director on the II-VI board.
Kramer served as II-VI’s president from 1985 to 2007, as president and CEO from 2007 to 2014, and as CEO and board chair from 2014 to 2016. He continued as board chair when Mattera became CEO in 2016. The company expanded significantly via mergers and acquisitions during Kramer's tenure, including the 2019 purchase of Finisar as well as the recently announced agreement to buy Coherent Inc. (see “II-VI closes Finisar acquisition” and “II-VI wins bidding for Coherent”).
“II-VI has a legacy of stable and consistent leadership, and I am pleased that the board has selected Chuck to succeed me as chair,” Kramer said. “Chuck has an extensive history and knowledge of the Company and its changing markets, and he is the right person to lead the company through these significant evolutions, especially during the upcoming integration with Coherent, Inc.”
Mattera will become the third chair in the company’s 50-year history. He was a member of the II-VI board from 2000 to 2002, and then rejoined II-VI as vice president in 2004. He subsequently served in several management roles before becoming CEO in 2016.
“I’m honored that the Board has asked me to lead the Company during these exciting times and through these next stages in the Company’s growth,” Mattera said. “I also especially appreciate the years of service Fran has provided and the strong foundation that he set into place.”
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