AURORA, IL, March 13, 2001 -- Cabot Microelectronics Corporation (Nasdaq: CCMP), the leading supplier of chemical mechanical planarization (CMP) slurries, today announced the election of Matthew Neville as chairman of the board, effective immediately.
Neville, who has been a member of Cabot Microelectronics' board of directors since its inception in 1999, will retain his titles as president and chief executive officer.
"This appointment is a strong vote of confidence in Matthew's leadership and the direction he has set for the business over the past five years and the company since its IPO one year ago," stated Kennett F. Burnes, director and former chairman of the board. "Under Matthew's visionary leadership, Cabot Microelectronics has positioned itself as the leader and innovator in CMP products and applications. He has been the energizing force behind this company, providing the direction and focus responsible for our aggressive growth and success, Burnes concluded."
"I am excited to assume this additional responsibility and to continue to execute our strategy as the world leader in the development and supply of high-performance polishing products, applications and services used for chemical mechanical planarization," stated Neville. "Ken Burnes has helped to guide this business through its origin and initial growth, IPO, and spin-off from Cabot Corporation, and I'm thrilled to continue working with him on the board."
Neville, who has a Ph.D. in chemical engineering from the Massachusetts Institute of Technology, has served as Cabot Microelectronics' president and chief executive officer since its incorporation in 1999. Prior to that, he was a Vice-President of Cabot Corporation and was the General Manager of its Microelectronics Materials Division, which then became Cabot Microelectronics Corporation.
About Cabot Microelectronics Corporation
Cabot Microelectronics, headquartered in Aurora, Illinois, USA, is the world leader in the development and supply of high-performance polishing slurries used for chemical mechanical planarization (CMP), a process that enables the manufacture of the most advanced integrated circuit (IC) devices and hard disk drive components. Cabot Microelectronics' global network of facilities encompasses corporate headquarters, a state-of-the-art research and technology center, and manufacturing plants in Aurora; manufacturing plants in the United Kingdom, Japan and the United States; and regional sales, technical applications and support offices strategically located throughout the world. The Company reported fiscal 2000 revenues of $180 million.
Safe Harbor Statement
This news release may include statements that constitute "forward-looking statements" within the meaning of federal securities regulations. These forward-looking statements include statements related to future sales and operating results, company and industry growth, growth of this market, new product introductions and development of new products and technologies by Cabot Microelectronics. These forward-looking statements involve a number of risks, uncertainties, and other factors, including those described from time to time in Cabot Microelectronics' filings with the Securities and Exchange Commission (SEC), that could cause the actual results to differ materially from those anticipated by these forward-looking statements. In particular, see "Risks Related to our Business" in Management's Discussion and Analysis in our annual report on Form 10-K for the fiscal year ended September 30, 2000 filed with the SEC, and in our quarterly report on Form 10-Q for the quarter ended December 31, 2000. Cabot Microelectronics Corporation assumes no obligation to update this forward-looking information.