Veeco Instruments Inc., the Plainview maker of machines for the solar panel and low-energy lighting industries, has appointed a new director, choosing a top executive from the semiconductor industry.
Joining Veeco’s board of directors is Keith Jackson, 56, president and chief executive of Phoenix-based On Semiconductor.
Veeco chief executive John R. Peeler said Jackson's advice will help position Veeco for further growth in the semiconductor industry. A 1999 spinoff of Motorola, On Semiconductor has aquired numerous other companies including AMI Semiconductor, California Micro Devices and Sanyo Semiconductor. With 20,000 employees, On Semiconductor has annual revenue of about $3.4 billion.
Veeco, with a market capitalization of $1.1 billion, in early February said its fourth-quarter profits plunged, and gave a forecast of a weak start to 2012. Amid questions about the short-term prospects for the makers of light-emitting diodes, or LEDs -- some of Veeco's major customers -- its full year sales rose 5 percent to $979.1 million, short of the $1 billion target the company set last year.
Photo: The manufacturing operations at Veeco Instruments Inc. which sells tools to manufacturers of low-energy lighting chips.