Christine Russell Appointed to AXT, Inc. Board of Directors
08 January 2020 - 8:30AM
AXT, Inc. (NasdaqGS: AXTI), a leading material science company
manufacturing single crystal compound semiconductor substrates,
announced today that Christine Russell has been appointed to the
AXT Board of Directors, effective December 23, 2019. The AXT board
expanded to five directors from the previous number of four.
Russell will serve on the audit, compensation and
nominating/corporate governance committees.
Russell also serves on the board of directors
and as audit committee chair of both QuickLogic Corporation
(Nasdaq: QUIK) and eGain Corporation (Nasdaq: EGAN). She is
chairman emeritus and a director on the board of SVDX (Silicon
Valley Directors Exchange), a professional organization that
provides a forum for education, conversation about current issues,
and peer interaction for boards of directors of Silicon Valley
companies. Since 2018, Russell has served as CFO of PDF Solutions,
Inc. (Nasdaq: PDFS), a provider of yield improvement technologies
for the IC manufacturing process life cycle. She previously served
as CFO of Uni-Pixel, Inc., a manufacturer of touch sensor films,
which was sold to a China-based firm; Vendavo, Inc., a SaaS-based
pricing optimization software company addressing the Global 2000;
and EAG, Inc. (Evans Analytical Group), a global provider of
analytical testing for technology companies, including major
semiconductor, chemicals and pharmaceuticals firms. Prior to EAG,
she served in the roles of both CFO and EVP of business development
at Virage Logic Corporation, a Nasdaq-listed semiconductor
intellectual property company that was sold to Synopsys, Inc. in
2010.
Russell holds a bachelor’s degree and an MBA
from Santa Clara University.
“We are delighted to welcome Christine onto the
AXT Board of Directors,” said Morris Young, chief executive
officer. “She brings a tremendous depth of experience as a public
company director and finance executive, and is well regarded in the
investment community. She joins at a time when AXT is positioned to
take advantage of a number of market opportunities, and we look
forward to drawing on her expertise as AXT continues to prepare for
its next phase of growth and expansion.”
“AXT has a compelling future and unique business
opportunities,” said Russell. “I look forward to working with Jesse
Chen, Morris, and the rest of the board as the company continues to
achieve milestones in the relocation of its manufacturing
facilities and prepares itself for market opportunities in 5G, data
center connectivity, optical components, LED lighting and lasers,
and satellite solar cells, as well as a host of emerging
applications that can help drive its future growth.”
About AXT, Inc.
AXT designs, develops, manufactures and
distributes high-performance compound and single element
semiconductor substrates comprising indium phosphide (InP), gallium
arsenide (GaAs) and germanium (Ge) through its manufacturing
facilities in Beijing, China. AXT’s worldwide headquarters are
in Fremont, California where the company maintains its sales,
administration and customer service functions. The company’s
substrate products are used primarily in lighting display
applications, wireless communications, fiber optic communications
and solar cell applications. Its vertical gradient freeze (VGF)
process technology for manufacturing semiconductor substrates
provides significant benefits over other methods and enabled AXT to
become a leading manufacturer of such substrates. AXT has
manufacturing facilities in China and, as part of its
supply chain strategy, has partial ownership in ten companies in
China producing raw materials. For more information, see AXT’s
website at http://www.axt.com.
Safe Harbor Statement
The foregoing paragraphs contain forward-looking
statements within the meaning of the Federal securities laws,
including, for example, statements regarding market opportunities
and AXT being positioned to take advantage of these opportunities,
AXT’s next phase of growth and expansion, AXT’s achievement of
milestones in the relocation of its manufacturing facilities and
the applications that can help drive AXT’s future growth. These
forward-looking statements are based upon assumptions that are
subject to uncertainties and factors relating to the company’s
operations and business environment, which could cause actual
results to differ materially from those expressed or implied in the
forward-looking statements contained in the foregoing discussion.
These uncertainties and factors include but are not limited to: the
timing and receipt of significant orders; the cancellation of
orders and return of product; emerging applications using chips or
devices fabricated on our substrates; end-user acceptance of
products containing chips or devices fabricated on our substrates;
our ability to bring new products to market; product announcements
by our competitors; the ability to control costs and improve
efficiency; the ability to utilize our manufacturing capacity;
product yields and their impact on gross margins; the relocation of
manufacturing lines; possible factory shutdowns as a result of air
pollution in China; tariffs and other trade war issues; the
financial performance of our partially owned supply chain
companies; policies and regulations in China and other factors as
set forth in the company’s Annual Report on Form 10-K, quarterly
reports on Form 10-Q and other filings made with the Securities and
Exchange Commission. Each of these factors is difficult to predict
and many are beyond the company’s control. The company does not
undertake any obligation to update any forward-looking statement,
as a result of new information, future events or otherwise.
Contacts:
Gary FischerChief Financial Officer(510)
438-4700
Leslie GreenGreen Communications Consulting,
LLC(650) 312-9060
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