Photronics Inc (NASDAQ: PLAB), a leading provider of photomask technologies and solutions, said this week it had promoted Eric Rivera to Chief Financial Officer with immediate effect.
Rivera has been appointed as interim CFO since February 2024 and has also served as Chief Accounting Officer since 2020.
“I am pleased to have Eric join our leadership team in this important role as we work together to continue growing profitably and creating shareholder value,” Frank Lee, Chief Executive Officer, said in a press release.
“His experience at Photronics and his overall financial knowledge will be valuable to our finance organization and the entire company. I look forward to partnering with Eric on strategic priorities as we position the company for a successful future,” the CEO added.
“Working closely with our leadership on strategic priorities, I’m excited to help drive profitable growth and continue focusing on the financial health of the company,” Eric Rivera commented.
Stock Performance
The shares of Photronics Inc (PLAB) closed 2.09% ($0.57) lower at $26.72 on Nasdaq on Wednesday, as they snapped a two-day streak of gains.
The company’s total market cap now stands at $1.693 billion.
The shares of Photronics Inc (PLAB) went up 86.39% in 2023, compared with a 43.42% gain for the benchmark index, Nasdaq Composite (IXIC).
The company’s shares have retreated 14.82% so far this year.
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