Amtech Systems, Inc. Announces Jong S. Whang Would Transition to A Non-Executive Employment Role Effective Immediately and Retire from His Position as Director Effective December 31, 2022
August 15, 2022 at 04:32 pm
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On August 9, 2022, Amtech Systems, Inc. and Mr. Jong S. Whang, the Company's former Chief Executive Officer and Chairman of the Board of Directors and a current executive and director, mutually decided that Mr. Whang would transition to a non-executive employment role effective immediately and retire from his position as director effective December 31, 2022. Mr. Whang's decision to retire is not a result of any disagreement between the Company and Mr. Whang on any matter relating to the Company's operations, policies or practices. In connection with his retirement, the Company and Mr. Whang entered into a letter agreement (the “Agreement”), which terminated the Second Amended and Restated Employment Agreement between the Company and Mr. Whang, dated February 9, 2012 (as amended, the “Employment Agreement”) and detailed the terms of Mr. Whang's continued at-will employment in an M&A support role to the Company as well as his continued compensation and severance.
Amtech Systems, Inc. is a manufacturer of thermal processing, wafer cleaning and chemical mechanical polishing (CMP) capital equipment and related consumables used in semiconductor, advanced mobility and renewable energy manufacturing applications. The Company's segments include semiconductor, and material and substrate. The semiconductor segment is engaged in the supply of thermal processing equipment, including solder reflow ovens, horizontal diffusion furnaces, and custom high-temp belt furnaces for use by semiconductor, electronics and electro/mechanical assembly manufacturers. The material and substrate segment is engaged in the production of wafer cleaning equipment as well as substrate consumables and chemicals for lapping (fine abrading) and polishing of materials, such as silicon wafers for semiconductor products, sapphire wafers for light-emitting diode (LED) applications, and compound substrates, like silicon carbide (SiC) wafers, for power device applications.
Amtech Systems, Inc. Announces Jong S. Whang Would Transition to A Non-Executive Employment Role Effective Immediately and Retire from His Position as Director Effective December 31, 2022
AMTECH SYSTEMS, INC. 
