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Advanced Energy Names Dr. Hans-Georg Betz as President and Chief
Executive Officer
FORT COLLINS, Colo., June 30 /PRNewswire-FirstCall/ -- Advanced Energy
Industries, Inc. (NASDAQ:AEISE) today announced the appointment of technology
industry veteran, Dr. Hans-Georg Betz, 59, to the position of President and
Chief Executive Officer, effective August 1, 2005. Dr. Betz has served on the
company's board of directors since July 2004. He has over 30 years of
electronics industry background both as a technologist and an executive leader.
The Company previously announced Doug Schatz's intention to retire from the
chief executive position, and he will continue to serve on the board of
directors as non-executive chairman.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030825/AEISLOGO )
"I've had the pleasure of working with Hans since he joined our board last
year. During this time, we completed the transformation of our operational
infrastructure with a focus on world wide production and sourcing capabilities
to meet the evolving needs of our international customer base and return us to
profitability. Hans' successful international leadership at companies such as
STEAG and Leybold will only enhance our ability to use these core strengths in
existing and new markets," said Doug Schatz.
"Strategically, I have been impressed with the contributions Hans has made
working with our executive team on strategy and emerging market opportunities.
I look forward to continuing to work with Hans to collaborate on our strategic
roadmap focused on long-term profitable growth by leveraging our heritage of
technology leadership and customer satisfaction," said Mr. Schatz.
Dr. Betz is currently chief executive officer of West STEAG Partners GmbH, a
German-based venture capital company focused on the high technology industry.
Previously, he was chief executive officer of STEAG Electronic System AG and a
Managing Director at Leybold AG. Under his strategic and management leadership
the Semiconductor Equipment, Optical Storage and MEMS units of STEAG Electronic
Systems AG grew from a $20 million to a $600 million business. He positioned
Leybold AG as a major player in the emerging flat panel display market as the
growth area beyond the legacy products in data storage and optical components.
Dr. Betz currently serves as a board member at Mattson Technology and at STEAG
HamaTech AG.
Dr. Betz said, "As an existing board member, I am excited about the company's
future opportunities, and I have the benefit of also understanding the
challenges that exist. I've been impressed with the leadership team and the
talented employees at Advanced Energy. They have worked hard to execute on a
new operations strategy, while continuing to extend Advanced Energy's
technology leadership, positioning the company for growth and enhanced
competitive advantage. I look forward to building on the existing strengths of
the company to execute a long-term strategy to capture the opportunities in
front of us."
Management of Advanced Energy will host a conference call to introduce Dr. Betz
on Friday, July 1, 2005 at 11:00 am Eastern, 9:00 am Mountain. You may access
this conference call by dialing 888-713-4717. International callers may access
the call by dialing 706-679-7720. For a replay of this teleconference, please
call 706-645-9291, and enter the pass code 7574884. The replay will be
available through Friday, July 8, 2005. There will also be a webcast available
on the company's investor relations website, located at
http://ir.advanced-energy.com/.
About Advanced Energy
Advanced Energy is a global leader in the development and support of
technologies critical to high-technology manufacturing processes used in the
production of semiconductors, flat panel displays, data storage products,
compact discs, digital video discs, architectural glass, and other advanced
product applications.
Leveraging a diverse product portfolio and technology leadership, Advanced
Energy creates solutions that maximize process impact, improve productivity and
lower the cost of ownership for its customers. This portfolio includes a
comprehensive line of technology solutions in power, flow, thermal management,
and plasma and ion beam sources for original equipment manufacturers (OEMs) and
end-users around the world.
Advanced Energy operates in regional centers in North America, Asia and Europe
and offers global sales and support through direct offices, representatives and
distributors. Founded in 1981, Advanced Energy is a publicly held company
traded on the Nasdaq National Market under the symbol AEISE. For more
information, please visit our corporate website:
http://www.advanced-energy.com/.
http://www.newscom.com/cgi-bin/prnh/20030825/AEISLOGO
http://photoarchive.ap.org/
DATASOURCE: Advanced Energy Industries, Inc.
CONTACT: Mike El-Hillow, Executive Vice President, Chief Financial
Officer, +1-970-407-6570, , or Cathy Kawakami, Director,
Corporate and Investor Relations, +1-970-407-6732, ,
both of Advanced Energy Industries, Inc.
Web site: http://ir.advanced-energy.com/
http://www.advanced-energy.com/