FormFactor, Inc. Announces Retirement of Igor Khandros
April 29, 2009
LIVERMORE, Calif. — April 29, 2009 — FormFactor, Inc. (Nasdaq: FORM) today announced that effective May 1, 2009, Igor Khandros, founder and Executive Chairman, will retire from the company and the board of directors. Khandros will continue to serve as a key advisor to the company, leveraging his long experience and expertise in the development of wafer test solutions.
Khandros, 54, founded FormFactor in 1993. Khandros led the company from a private start-up to a publicly traded company, with one of the leading intellectual property portfolios within the semiconductor manufacturing sector. His pioneering work is largely responsible for creating the industry for advanced wafer probe cards and, with it, delivering significant test cost reduction and efficiency to semiconductor manufacturers globally. His vision for semiconductor test continues to drive technological innovation with bottom line benefit to customers. For his contributions to semiconductor test, in 2006, Dr. Khandros received the SEMI Award for North America, the highest award conferred by the SEMI industry association.
“I have been fortunate to work with many talented FormFactor people who have shared my vision and helped bring innovations to the semiconductor test industry,” said Khandros. “We have together built an important company that has changed the landscape in the semiconductor testing industry. FormFactor has the technology, products and people not only to respond to the current challenging times, but to lead the testing industry forward into the future.”
“Igor and I are confident we have put together a team of leaders and an operation structure that will continue to drive FormFactor’s innovation engine and deliver to our customers industry leading technology and solutions,” said Mario Ruscev, CEO of FormFactor. “From the foundation Igor helped build, we remain committed to hiring the world’s best technical talent and to solving the
industry’s challenges in wafer test. Igor built a great company that leaves us in an excellent position for success in the future. On behalf of the company as a whole, I wish Igor the very best as he begins the next chapter in his life.”
Khandros is the holder of more than 220 FormFactor patents, including patents related to test sockets, microelectronic contacts, spring fabrication, wafer probing and other topics. Khandros took FormFactor public in 2003 and was the company’s CEO from its founding in 1993 to 2008, when Ruscev assumed the role of chief executive. For the past year, Khandros has served as the company’s executive chairman. FormFactor also announced that lead independent director Jim Prestridge will succeed Khandros as chairman beginning in May.