ANZ New CEO Forgoes Bonus After Shareholders Reject Executive Pay Report 
Oracle Stock Surges After Hours on TikTok Deal Optimism and OpenAI Fundraising Buzz 
Bridgewater Associates Plans Major Employee Ownership Expansion in Milestone Year 
Union-Aligned Investors Question Amazon, Walmart and Alphabet on Trump Immigration Policies 
Micron Technology Forecasts Surge in Revenue and Earnings on AI-Driven Memory Demand 
Harris Associates Open to Revised Paramount Skydance Bid for Warner Bros Discovery 
Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track 
Maersk Vessel Successfully Transits Red Sea After Nearly Two Years Amid Ongoing Security Concerns 
7-Eleven CEO Joe DePinto to Retire After Two Decades at the Helm 
Trump Signals Push for Lower Health Insurance Prices as ACA Premium Concerns Grow 
FedEx Beats Q2 Earnings Expectations, Raises Full-Year Outlook Despite Stock Dip 
Nike Shares Slide as Margins Fall Again Amid China Slump and Costly Turnaround 
Google and Apple Warn U.S. Visa Holders to Avoid International Travel Amid Lengthy Embassy Delays 
Elliott Management Takes $1 Billion Stake in Lululemon, Pushes for Leadership Change 
Volaris and Viva Agree to Merge, Creating Mexico’s Largest Low-Cost Airline Group 
FDA Fast-Tracks Approval of Altria’s on! PLUS Nicotine Pouches Under New Pilot Program 
OpenAI Explores Massive Funding Round at $750 Billion Valuation 
PORTLAND, Ore., Feb. 24, 2016 -- Electro Scientific Industries, Inc. (Nasdaq:ESIO), an innovator in laser-based manufacturing solutions for the micro-machining industry, today announced that David Nierenberg has tendered his resignation as a member of the Board of Directors at ESI, effective February 22nd.
“We appreciate David’s six years of service on our Board of Directors, and for the unique perspective he brought to the Board as a long-time shareholder,” said Richard H. Wills, Chairman of the Board of ESI. “His governance and financial acumen were instrumental in support of ESI’s turnaround effort. I offer my profound thanks to David for his service to the company.”
During the last two years ESI has revamped and refocused the company strategy under the leadership of Ed Grady, CEO of ESI. In the last eighteen months four new Board members were added and the corporate governance practices were updated to be more in line with shareholder expectations. Rick Wills, an experienced technology executive, was made Chairman of the Board one year ago and worked with Mr. Nierenberg, as Chairman of the Nominating and Governance Committee, and the Board to put in place many of these changes.
The Nominating and Governance Committee of the Board has worked with management over the past year to align the skill set of the Board with the company strategy. “As we look forward and continue this effort we will be focused on strengthening the industry expertise on the Board that will enable us to build on our turnaround efforts and grow in our targeted markets,” concluded Wills.
About ESI, Inc.
ESI's integrated solutions allow industrial designers and process engineers to control the power of laser light to transform materials in ways that differentiate their consumer electronics, wearable devices, semiconductor circuits and high-precision components for market advantage. ESI's laser-based manufacturing solutions feature the micro-machining industry's highest precision and speed, and target the lowest total cost of ownership. ESI is headquartered in Portland, Ore., with global operations from the Pacific Northwest to the Pacific Rim. More information is available at www.esi.com.
Brian Smith ESI 503-672-5760 [email protected]
