Coherent Corp. announced that Dr. Vincent (?Chuck?) D. Mattera, Jr., has informed the Coherent Board of Directors (?the Board?) of his intent to retire as CEO following the commencement of employment of his successor. Dr. Mattera?s intention to retire does not reflect a dispute or disagreement with the Company.

In parallel with announcement, the Company is reaffirming the guidance set forth in that certain Shareholder Letter dated as of February 5, 2024, and furnished on such date as an exhibit to a Current Report on Form 8-K filed on that day. Coherent?s Board of Directors has retained a leading executive search firm to immediately commence a comprehensive search process, which will include evaluating internal and external candidates, to identify a new CEO to lead the Company into the future. A subcommittee of the Board has been formed to oversee the search process.

Dr. Mattera, 68, has served with Coherent for 20 years, the last eight of which have been as CEO. He is the Company?s third CEO since its founding in 1971 as II-VI Incorporated. He has also served as Chair of the Company?s Board of Directors since November 2021.

During his tenure, Dr. Mattera led the transformation of II-VI, a premier supplier of engineered materials and optoelectronic components, into Coherent Corp., a global, diversified company enabling multiple irreversible megatrends in the industrial, communications, electronics, and instrumentation markets. Over his 20 years, the Company?s annual revenue grew from $150 million in fiscal 2004 to more than $5 billion in fiscal 2023.