Axcelis Technologies Announces CFO Transition and Interim Appointment Amid Pending Merger

Key Points for Investors

• David Ryzhik Appointed Interim CFO: David Ryzhik, previously Senior Vice President of Investor Relations and Corporate Strategy, has been named Interim Chief Financial Officer of Axcelis Technologies, effective March 12, 2026.
• Outgoing CFO James Coogan: James Coogan is leaving to pursue a CFO role at another public company in a different industry. He will remain with Axcelis through April 24, 2026, to ensure a smooth transition.
• Search for Permanent CFO Underway: Axcelis has launched an executive search for its next permanent CFO, with the help of a leading executive search firm.
• Pending Merger with Veeco: Ryzhik has played a significant role in the company’s ongoing merger process with Veeco, which is a major strategic event for the company.

Details of the Announcement

Axcelis Technologies, Inc. (Nasdaq: ACLS), a leading provider of semiconductor manufacturing solutions, has announced a significant leadership transition in its finance organization. Effective March 12, 2026, David Ryzhik has been appointed Interim Chief Financial Officer. This follows the departure of the current CFO, James Coogan, who is leaving to become CFO at another public company outside the semiconductor industry. Coogan will remain with Axcelis until April 24, 2026, to support a seamless handover of responsibilities.

The company will begin the search for a permanent CFO, working closely with a top executive search firm to identify the best candidate for this crucial leadership position.

Leadership Comments and Strategic Implications

Dr. Russell Low, President and CEO, commented, “We are fortunate to have a leader like David available to step into the role of Interim CFO. David has deep knowledge of our business, strategy, financial operations, and investor relations function, and he has played a significant role in our pending merger with Veeco. The Board and I are confident he is well positioned to continue driving his leadership role in the company as well as our finance organization during this transition.”

Dr. Low further emphasized, “David also brings strong relationships with our financial stakeholders, and I look forward to working more closely with him to advance our financial priorities, drive disciplined execution, and capitalize on significant value creation opportunities in connection with our combination with Veeco.”

David Ryzhik expressed his commitment: “I am honored to step into the Interim CFO role and intend to continue building on the momentum underway at Axcelis. Together with the leadership team, we will continue to focus on executing on our strategy, advancing our ongoing integration planning efforts with Veeco and driving long-term value for shareholders.”

Dr. Low also thanked the outgoing CFO: “On behalf of the Board, I thank Jamie for his many contributions to the Company. During his tenure at Axcelis, he helped build a strong finance organization, drive operational discipline, and position the Company for value creation. We wish him all the best in his next chapter.”

James Coogan added, “It has been a privilege to work alongside so many talented colleagues at Axcelis. I am confident that the Company is well positioned financially and strategically to deliver on its value creation objectives, and that David is the right interim leader to carry that work forward.”

About David Ryzhik

David Ryzhik is a seasoned finance and investor relations executive with more than 20 years of experience across multiple industries. He has served as Senior Vice President of Investor Relations and Corporate Strategy at Axcelis since July 2024. Previously, Ryzhik was Vice President of Investor Relations at MKS Instruments, and held roles as a Senior Equity Research Analyst at Susquehanna International Group and Senior Research Associate at Brean Capital. Earlier in his career, he served in public administration financial roles with the New York City Mayor’s Office of Management & Budget and the New York City Fire Department. He holds an MBA in Financial Management and a BBA in Finance and Accounting from Pace University’s Lubin School of Business, and serves as a board member of the National Investor Relations Institute’s Boston Chapter.

Company Background and Ongoing Developments

Axcelis (Nasdaq: ACLS), headquartered in Beverly, Massachusetts, has been providing innovative and high-productivity solutions for over 45 years in the semiconductor industry. The company specializes in ion implantation systems, a critical step in integrated circuit manufacturing. More information can be found at www.axcelis.com.

Investor Relations Contact:
David Ryzhik, Senior Vice President and Interim Chief Financial Officer
Tel: (978) 787-2352
Email: [email protected]

Press/Media Relations Contact:
Maureen Hart, Senior Director, Corporate & Marketing Communications
Tel: (978) 787-4266
Email: [email protected]

Shareholder Impact and Potential Market Sensitivity

• CFO Transition: Leadership transitions, especially at the CFO level, can be price sensitive as they may impact investor confidence and the company’s execution on financial strategies.
• Pending Merger with Veeco: The merger is a significant strategic event that may materially impact Axcelis’ future growth, synergies, and shareholder value. Ryzhik’s involvement in the transaction and his interim appointment are crucial for continuity during this period.
• Search for Permanent CFO: The outcome of the CFO search and the selection of a permanent replacement will be closely watched by investors and may influence market sentiment.

Disclaimer

This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult with their financial advisors before making investment decisions. The information provided is based on company disclosures as of March 12, 2026, and may be subject to change.

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