SK Hynix Moves Closer to New York ADR Listing Amid AI Chip Boom 
Micron Stock Surges on Strong AI Demand, Record Revenue, and Bullish Q4 Forecast 
Anthropic AI Model Uncovers Vulnerabilities in Classified U.S. Government Systems During Security Test 
Pelosi Discloses Major Intel and Uber Call Option Purchases Worth Up to $6 Million 
Tesla and NatPower Partner on $5 Billion Battery Storage Expansion in Europe 
Nissan Halts Electric Qashqai Development Amid EV Market Challenges 
FedEx Stock Drops After Weak 2026 Earnings Forecast Despite Strong Q4 Results 
Tencent Reviews Marvelous Stake as Gaming Giant Reassesses Global Investment Strategy 
Alibaba Shares Fall After Anthropic Alleges Massive AI Model Distillation Campaign 
Trip.com Shares Tumble After Q1 Profit Drops and Weak Revenue Growth Outlook 
KPMG Australia Chairman and Senior Partners Exit Amid Escalating Whistleblower Scandal 
SpaceX Stock Rebounds After Sharp Selloff, But Valuation Concerns Persist 
Bain Capital Nears Deal for Majority Stake in Volkswagen Marine Engine Unit Everllence 
Samsung and SK Hynix Shares Jump After Micron Earnings Boost AI Chip Optimism 
Cerebras Revenue Forecast Tops Expectations, but Margin Concerns Weigh on Stock 
Fortescue Faces Class Action Over Sexual Harassment Claims at Australian Mining Sites 
Nike CFO Shake-Up Fuels Concerns Over Turnaround Strategy 
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]
