IRVINE, CA, April 16, 2003. Newport Corp. has announced that Michael T. O'Neill and Peter J. Simone have joined the company's board of directors. Robert G. Deuster, president and CEO of Newport, said, "As Newport expands the scope of its involvement in manufacturing products for the semiconductor industry and life and health sciences markets, we are extremely pleased to have attracted the services of two professional managers with tremendous experience in these arenas. Mike O'Neill and Peter Simone bring diverse sets of talents that complement the experience and skills of our existing board members."
O'Neill, (62), is president and CEO of Miragene, Inc., a biotechnology company engaged in proteomics and molecular diagnostics. From 1995 to 2000, he served as an independent consultant to several private companies in the biotechnology industry. From 1973 to 1995, he worked for Beckman Instruments, Inc., a manufacturer and supplier of automated analytical systems for life sciences and diagnostic markets. His most recent positions with Beckman were as senior vice president of worldwide commercial operations from 1993 to 1995, and group vice president of life sciences operations from 1989 to 1993.
Simone, (55), has 30 years of experience in operating management and consulting with a variety of public and private high-technology companies. He currently serves as an independent consultant to several venture capital firms and venture-funded private companies. He recently served as executive chairman and a director of SpeedFam-IPEC, Inc., a worldwide semiconductor equipment company that was acquired by Novellus Systems, Inc. in December 2002. During 2001 and 2002, he was president and a director of Active Controls Experts, Inc., a company using smart materials and embedded software to control submicron vibrations in structures for semiconductor capital equipment markets.
Deuster also announced that William R. Rauth III, (59), a Newport Corporation director since 2001, has resigned as a director. "Under the new, heightened independence standards recently adopted by the Securities and Exchange Commission for members of audit committees, Bill Rauth is no longer deemed independent for purposes of serving on Newport's audit committee," said Deuster. "Following the proposal of this rule, Bill elected to resign from the board to facilitate the addition of new directors who would meet the new audit committee independence standards."
For more information, visit www.newport.com .
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