IPG Photonics Corp
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Information Technology : Electronic Equipment, Instruments & Components | Small Cap Blend
Company profile

IPG Photonics Corporation develops, manufactures and sells fiber lasers, fiber amplifiers and diode lasers that are used for diverse applications, primarily in materials processing. The Company’s portfolio of laser solutions is used in materials processing, medical and advanced applications. It designs and manufactures components used in its finished products, from semiconductor diodes to optical fiber preforms, finished fiber lasers and amplifiers. It manufactures complementary products used with its lasers, including optical delivery cables, fiber couplers, beam switches, optical processing heads, in-line sensors and chillers. It offers laser-based and non-laser-based systems for certain markets and applications. It sells its products to original equipment manufacturers (OEMs), system integrators and end users. It markets its products internationally, primarily through its direct sales force. Its manufacturing facilities are located in the United States, Germany, Russia and Belarus.

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Today's volume of 80,892 shares is on pace to be much lighter than IPGP's 10-day average volume of 240,286 shares.


IPG Photonics Announces Changes to the Board of Directors

8:00 am ET January 23, 2023 (Globe Newswire) Print
IPG Photonics Announces Changes to the Board of DirectorsGlobeNewswireJanuary 23, 2023

OXFORD, Mass., Jan. 23, 2023 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (Nasdaq: IPGP) today announced the election of Greg Beecher to its Board of Directors.

"I am pleased to welcome Mr. Beecher to the Board," said John Peeler, non-executive Chair of the Board. "He has more than 35 years of broad technology industry experience coupled with deep expertise in accounting and finance. Greg also is an experienced board member having served on the boards of several manufacturers of high tech products. I am looking forward to working with Greg and believe he will be a great contributor to IPG's strategy given his transformation, diversification and acquisition experience at Teradyne."

Mr. Beecher is the former Vice President, Treasurer, Chief Financial Officer and Chief Accounting Officer of Teradyne. After joining the company as Chief Financial Officer in 2001, he led the acquisition of multiple companies and delivered plans that would allow Teradyne to participate in broader end markets such as industrial automation, material handling and autonomous driving. Prior to joining Teradyne, Mr. Beecher started his career at PwC and rose to the role of Senior Partner in Technology Practice. He received a Bachelor of Science from University of Hartford and a Master of Science in Accounting from Northeastern University.

The Company also announced today that Thomas J. Seifert notified the Company that he will resign as a director of the Company, effective immediately following the Company's filing of its annual report on Form 10-K and will not stand for election at the 2023 annual meeting of stockholders. Mr. Seifert joined the IPG board in 2014. His decision is not related to any disagreement with the Company on any matter relating to its operations, policies, practices, management or the Board of Directors. John Peeler stated, "On behalf of the Board, I would like to thank Thomas Seifert for his contributions to IPG since he joined the Board in 2014."


Eugene Fedotoff

Director of Investor Relations

IPG Photonics Corporation



About IPG Photonics Corporation

IPG Photonics Corporation is the leader in high-power fiber lasers and amplifiers used primarily in materials processing and other diverse applications. The Company's mission is to make its fiber laser technology the tool of choice in mass production. IPG accomplishes this mission by delivering superior performance, reliability and usability at a lower total cost of ownership compared with other types of lasers and non-laser tools, allowing end users to increase productivity and decrease costs. IPG is headquartered in Oxford, Massachusetts and has more than 30 facilities worldwide. For more information, visit www.ipgphotonics.com.

Source: IPG Photonics Corporation

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