Intevac, Inc. (Nasdaq: IVAC), a supplier of thin-film processing systems, expands its Board of Directors. The company appoints industry veteran Eiji Miyanaga as a new independent director.
In his most recent role, Eiji served on the board of directors of Ferrotec Holdings Corporation (JASDAQ: 6890), a global supplier of advanced materials, components, and precision system solutions used in a broad array of end products, manufacturing systems, and industries, with over $1.5B of sales annually.
Eiji spent most of his three decades of professional career serving as the CEO of Ferrotec USA, where he transformed the company from a single technology-based business to a multi-product, multi-market and multi-technology company, providing critical components to leading semiconductor manufacturers worldwide. His tenure on the board of directors of Ferrotec Holdings Corporation spanned years 2015 through his retirement in September 2023, with additional director roles as Chairman of the Board of Ferrotec USA from 2002 until September 2023, Chairman of the Board of Ferrotec Manufacturing Malaysia from April 2022 through June 2023, and as non-executive director at Ferrotec Material Technology Corporation, from 2015 until June 2023. Additional director roles include Chairman of the Board of California-based Admap Ceramics Inc., from 2015 to 2018.
“Today’s announcement that we have expanded the Company’s Board of Directors to welcome Eiji marks the culmination of an extensive search to add significant new expertise in the Asia-based electronics manufacturing markets,” commented Nigel Hunton, Intevac’s president and chief executive officer. “Intevac’s commitment to enhancing shareholder value is squarely focused on accessing new markets that represent significant growth potential for our unique value proposition, namely, the confluence of materials science and manufacturing agility to enable highly-engineered thin film coating technologies deployed in ultra-high-productivity manufacturing environments. Today’s growth opportunities are squarely focused on the Asia-based electronics supply chain, making Eiji’s contributions invaluable in our pursuit of new customers and partnerships that will bolster our future growth potential.”
“This is an incredibly exciting time for Intevac, with the recent market launch of its groundbreaking TRIO platform,” said Eiji. “I admire the leadership team’s hard work and dedication in their efforts to make this product launch the most successful in the Company’s history. This will require success in the Asia markets, and I look forward to making positive contributions to the relationships that will help shape the future growth trajectory of Intevac.”
Remarking on the appointment, Chairman David Dury said, “Eiji brings significant global leadership experience to the Intevac board, with an impressive history of success as a seasoned industry executive, as well as substantial experience in corporate governance. We expect his broad technology experience and deep knowledge of the electronics supply chain in Asia will bring significant value to our Board.”
