Coherent Inc. announced that on February 1, 2016, Kevin Palatnik accepted an offer to become Executive Vice President and Chief Financial Officer of the Company, effective February 22, 2016. Mr. Palatnik has been a private investor since August 2015. Previously, he was Chief Financial Officer of Audience Inc. From 1994 to 1999 and from 2001 to November 2010, he held various positions at Cadence Design Systems Inc. Helene Simonet has agreed to extend her tenure as the Company's CFO through February 21, 2016.

To assist with the transition, Ms. Simonet has agreed to remain as a special advisor to the Chief Executive Officer as a non-executive employee through April 4, 2016, at which time she will transition to a consultant to the Company through December 30, 2016.