SANTA CLARA, Calif., Feb. 5 /PRNewswire-FirstCall/ -- Coherent, Inc.
(Pink Sheets: COHR), today announced its slate of seven director nominees
to be included in the company's proxy for the annual meeting scheduled for
March 19, 2008 at 5:30p.m. (PT), which are subject to election by
shareholders. The nominees include current directors Garry Rogerson, John
Ambroseo, John Hart, Larry Tomlinson and Sandeep Vij as well as first-time
nominees Susan James and Clifford Press.
Susan James is a former partner with Ernst & Young and has served as
the partner-in-charge for a significant number of technology companies
including Intel Corporation, Sun Microsystems, Amazon.com, Autodesk and the
Hewlett-Packard Corporation.
"I am enthusiastic about the opportunity to be part of Coherent. The
company shares some important traits with other organizations that I have
worked with including market and technology leadership as well as emphasis
on growth and financial performance," Ms. James stated.
Clifford Press has been a managing member of Oliver Press Partners,
LLC, an investment advisory firm, since March 2005. Over the past several
months, Coherent and Oliver Press Partners have engaged in a constructive
and professional dialogue culminating in an agreement that led to Mr.
Press' nomination. Oliver Press Partners is currently Coherent's largest
shareholder.
"I am looking forward to the opportunity of working with my colleagues
on the Coherent Board to achieve the great potential that is inherent in
this company," said Mr. Press.
The company also announced that Charles Cantoni will retire from the
Board of Directors after 25 years of service, effective at the annual
meeting. Mr. Cantoni had extended his tenure beyond the company's mandatory
retirement age at the company's request on multiple occasions.
"Chuck has been a remarkable steward for Coherent. His level of
commitment for over two decades speaks volumes about his character and
integrity. On behalf of Coherent and its shareholders, I want to express
our deepest thanks and best wishes to Chuck and his family," said Garry
Rogerson, Coherent's Chairman of the Board.
For further information regarding Ms. James and Mr. Press, as well as
the settlement agreement between Coherent and Oliver Press Partners and its
affiliated individuals and entities, please see the company's current
report on Form 8-K, which will be filed later today.
Founded in 1966, Coherent, Inc. is a world leader in providing
photonics based solutions to the commercial and scientific research
markets.
SOURCE Coherent, Inc.
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Related links:
http://www.coherent.com
CONTACT:
Leen Simonet of Coherent, Inc.,
+1-408-764-4161
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