Novellus Systems names Peter Hanley as company president
Novellus Systems Inc. (Nasdaq:NVLS), the productivity and innovation leader in thin film deposition and surface preparation technology for the global semiconductor industry, today announced that Peter R. Hanley, 61, Ph.D., has been promoted to company president and will join Chairman of the Board and Chief Executive Officer Richard S. Hill in a newly-created office of the CEO (chief executive officer). Hanley will continue to act in his current role as executive vice president of the company's worldwide sales and service operations as Novellus transitions the organization for the future.
In 2000, Novellus nearly doubled its net sales over the previous year to a record $1.174 billion dollars, and announced the acquisition of Gasonics International, taking the company beyond its focus on deposition technology for the first time in the company's history. Although the semiconductor equipment industry is currently in the midst of a down cycle, Novellus' research and development investments over the past several years have positioned the company strongly for future growth, particularly in the areas of copper dual damascene manufacturing systems and 300-mm production equipment. Establishing an office of the president, with shared executive responsibilities, is a strategic move that will permit the company to more efficiently manage its businesses as it grows to the next level.
Hanley joined Novellus as executive vice president of sales and marketing in 1992. Under his leadership Novellus' sales revenue grew more than 17-fold, from $69 million in 1992 to last year's record figure.
"At Novellus, we recognize effort, but reward results," said chairman of the board and chief executive officer Richard S. Hill. "I can think of no better personification of this value than Peter Hanley. He has a demonstrated track record of achievement in his previous position here at Novellus, and I'm confident, going forward, that he will be equally successful in his new role as president of the company."
Dr. Hanley has more than 30 years experience in the semiconductor equipment industry. Prior to joining Novellus, he served as group vice president of sales and service at Applied Materials. Formerly vice president and general manager of Applied's etch products division, Hanley was also president of Tegal Corp. and vice president of the semiconductor equipment group at Varian. He holds a bachelor of science degree in mechanical engineering from Northeastern University and a doctorate in Engineering Physics from Cornell University.
About Novellus Systems
Novellus Systems Inc., an S&P 500 company, manufactures, markets and services advanced deposition and surface preparation for today's advanced integrated circuits. The company's products are designed for high-volume production of advanced, leading-edge semiconductor devices at the lowest possible cost. Headquartered in San Jose, CA, with subsidiaries throughout the United States as well as in the United Kingdom, France, Germany, The Netherlands, Spain, Ireland, Israel, China, Japan, Korea, Singapore and Taiwan, Novellus is a publicly traded company on the Nasdaq stock exchange (Nasdaq:NVLS) and a component of the Nasdaq-100 Index. Additional information about the company is available on Novellus' home page at www.novellus.com.
Source: Novellus Systems Inc.