September 21, 2007, Irvine, CA--Robert Deuster, chairman and CEO of Newport Corporation, will retire from the company effective October 5, 2007. In anticipation of Deuster's retirement, Robert Phillippy, 47, currently Newport's president and COO, has assumed the role of CEO and will serve on the company's Board of Directors. Kenneth Potashner, a member of the board since 1998, has been appointed non-executive chairman of the board.
Phillippy is an 11-year veteran of Newport and has served as the company's president and COO since July 2004. During this time, he has played an instrumental role in driving the company's most important initiatives, including the integration of the Spectra-Physics acquisition and the execution of the company's integrated photonics solutions strategy. Prior to that time, Phillippy served as vice president and general manager of the U.S. operations of Newport's Industrial and Scientific Technologies Division (now a part of the company's Photonics and Precision Technologies Division), where he spearheaded the company's transition from a provider of discrete components and instruments primarily for scientific research customers to a manufacturer of both components and integrated systems for both research and commercial applications.
"On behalf of Newport, I would like to express our appreciation to Bob Deuster for his leadership and strategic vision over the past 11 years, which have helped make Newport a global leader in photonics," Potashner said. "Going forward, Bob Phillippy's skills and experience make him the ideal candidate to lead Newport as we continue to pursue our goal of becoming the world's leading supplier of integrated photonics solutions."
"Newport has been an important part of my life for more than a decade, and I have greatly enjoyed leading the company during this time of significant growth beyond its research market origins," said Deuster said. "We have planned for Bob Phillippy to be my successor in this position for some time, and I have great confidence that he, together with the rest of our strong, experienced management team, will continue to drive Newport to reach its tremendous potential."
"I am very excited by the opportunity to lead Newport," Phillippy said. "Our primary markets are increasingly utilizing photonic technologies, we have outstanding products and capabilities to meet the needs of these markets and we have extremely talented people. This combination of excellent market opportunity, differentiated technological capability, and a strong team provides our company with great potential. We are confident in our ability to leverage this potential to create a very bright future for Newport."