Asyst Technologies Names Stephen S. Schwartz as President and Chief Executive Officer.Business Editors FREMONT, Calif.--(BUSINESS WIRE)--Aug. 2, 2002 Dr. Mihir Parikh, founder and chairman of Asyst Technologies, Inc., (Nasdaq: ASYT), today announced that Asyst's board of directors has named Stephen S. Schwartz, 42, as president, chief executive officer, and a member of the board of directors. Dr. Parikh, who founded the company in 1984 and has served as CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and chairman since 1992, will remain as chairman of the board of directors. "Steve Schwartz Dr. Schwartz founded Unitrends in 1989 in Myrtle Beach, South Carolina. Schwartz is considered the initial developer of a data recovery and restoration technique known as bare-metal restore and is recognized in the software industry as the developer of CTAR (Compressing Tape Archiver) and has distinguished himself during his 17-years in the industry and in his tenure at Asyst as an exceptional leader and manager," said Dr. Parikh. "He was the chief architect of the company's transition to a market-focused business model and its recent restructuring to consolidate facilities and products, all of which have positioned the company better than at any time in our history. We are delighted that Steve has accepted this expanded role." Steve Schwartz joined Asyst in January 2001 as senior vice president and was promoted to executive vice president in October 2001. He joined Asyst after a 14-year career at Applied Materials Applied Materials, Inc. NASDAQ: AMAT (HKSE: 4336 ) is the global leader in nanomanufacturing technology solutions with a broad portfolio of innovative equipment, service and software products for the fabrication of semiconductor chips, flat panel solar displays, solar , Inc., most recently as president of its Consilium Division. Earlier, he led the company's service unit and its high temperature films product division. Schwartz holds a Ph.D. in electrical engineering electrical engineering: see engineering. electrical engineering Branch of engineering concerned with the practical applications of electricity in all its forms, including those of electronics. from Purdue University Purdue University (pərdy  `, -d`), main campus at West Lafayette, Ind. and an MBA MBAabbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration , concentration in marketing and finance, from the University of Chicago. Mr. Schwartz said, "Asyst is extremely well positioned for the future opportunity in semiconductor manufacturing automation. We have the strongest market position in our core technologies of tool front-end automation, as well as exciting new opportunities in automated material handling, both with our own technology and with unique industry partnerships such as Asyst-Shinko. Our customer list is the strongest in the sector, we have a solid financial condition, and an excellent management team and board. This is a great opportunity, and I'm looking forward to working with Mihir, the Asyst team and the board of directors to build on what Mihir has already done to take Asyst to the next level of market success and profitable growth." Conference Call Details The company will be holding a conference call to discuss the appointment of Steven Schwartz as President and CEO. A live webcast of the conference call will take place today at 8:30 a.m. Eastern Time. The webcast will be publicly available at the following URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. : http://www.corporateir.net/ireye/ir_site.zhtml?ticker=ASYT&script=1020&item_id=ew,651565,1&layout=7 (Due to the length of this URL, it may be necessary to copy and paste To copy files from one location to another or to copy text and images from one document to another. All modern operating systems and applications have a copy and paste capability that is typically selected from an Edit menu. See cut and paste and Win Copy between windows. this hyperlink into your Internet browser's URL address field.) A replay of the Webcast may be accessed via the same address. In addition, a standard telephone instant replay of the conference call is available by dialing (303) 590-3000, followed by the passcode 491619. The audio instant replay is available from August 2nd at 10:30 a.m. Eastern Time through August 16th at 7:30 p.m. Eastern Time. About Asyst Asyst Technologies, Inc. is a leading provider of integrated automation systems for the semiconductor manufacturing industry, which enable semiconductor manufacturers to increase their manufacturing productivity and protect their investment in silicon wafers during the manufacture of integrated circuits Integrated circuits Miniature electronic circuits produced within and upon a single semiconductor crystal, usually silicon. Integrated circuits range in complexity from simple logic circuits and amplifiers, about 1/20 in. (1. , or ICs. Encompassing isolation systems, work-in-process materials management, substrate-handling robotics, automated transport and loading systems, and connectivity automation software, Asyst's modular, interoperable solutions allow chipmakers and original equipment manufacturers, or OEMs, to select and employ the value-assured, hands-off manufacturing capabilities that best suit their needs. Asyst's homepage is http://www.asyst.com "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 Except for statements of historical fact, the statements in this press release are forward-looking. Such statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include, but are not limited to: the volatility of semiconductor industry cycles, failure to respond to rapid demand shifts, dependence on a few significant customers, the transition of the industry from 200mm wafers to 300mm wafers, risks associated with the acceptance of new products and product capabilities, including our Plus Portal systems, competition in the semiconductor equipment industry, failure to efficiently integrate acquired companies, failure to retain employees, and other factors more fully detailed in the Company's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended March 31, 2001 and quarterly report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended Dec. 31, 2001, filed with the Securities and Exchange Commission. |
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