MILPITAS, Calif., April 19 /PRNewswire-FirstCall/ -- Credence Systems
Corporation (Nasdaq: CMOS) a leading provider of test solutions from design
to production for the worldwide semiconductor industry, today announced the
appointment of Patrick J. Brady to senior vice president, engineering.
Brady will lead Credence's worldwide engineering organization, with
implementation responsibility for all product lines. A 24-year veteran of
the semiconductor and capital equipment industry, Brady will report to Lavi
Lev, president and chief executive officer of Credence.
"Pat is a natural leader with a deep understanding of the semiconductor
capital equipment technology and business," said Lev. "His distinguished
leadership track record in building strong engineering teams and
introducing multiple successful products to market, while meeting stringent
delivery and quality requirements, makes him a natural fit for this role.
In today's consumer-driven market, our customers are faced with the
challenge of meeting increasingly shorter time to market and reduced cost
pressures, without compromising product performance, quality, and
reliability. As a result, we have to increase our focus on meeting our
customers' specific requirements to enable their business success. I look
forward to Pat's contributions as a key member of the Credence management
team."
Previously, Brady was vice president and general manager of the Array
Test Division at Photon Dynamics. Prior to that Brady was at KLA-Tencor for
over six years. There, as vice president and general manager of several
business units, he was instrumental in gaining successful market acceptance
of many new products. Brady's distinguished career also spans senior
management positions at Watkins-Johnson and ETEC. Brady holds a PhD in
computer science from the University of Oklahoma and an MBA from St. Mary's
College, California.
Credence also announced the grant of an employment inducement stock
option award to Brady on April 16, 2007. Brady may purchase up to 200,000
shares of the Company's common stock at an exercise price of $3.47 per
share pursuant to an inducement stock option. The shares subject to the
stock option vest over a four-year period.
About Credence
Credence Systems Corporation is a leading provider of debug,
characterization and ATE solutions for the global semiconductor industry.
With a commitment to applying innovative technology to lower the
cost-of-test, Credence delivers competitive cost and performance advantages
to integrated device manufacturers (IDMs), wafer foundries, outsource
assembly and test (OSAT) suppliers and fabless chip companies worldwide. A
global, ISO 9001- certified company, Credence is headquartered in Milpitas,
California. More information is available at http://www.credence.com.
Company Contact:
Uma Subramaniam
Sr. Director, Corporate Communications
Credence Systems Corporation
Phone: 408-635-4889
Fax: 408-635-4986
E-mail: uma_subramaniam@credence.com
SOURCE Credence Systems Corporation
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Related links:
http://www.credence.com
CONTACT:
Uma Subramaniam, Sr. Director, Corporate
Communications of Credence Systems Corporation, +1-408-635-4889,
or fax, +1-408-635-4986, or uma_subramaniam@credence.com
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