FREMONT, CA, Oct. 29, 2009 (Marketwire) --
FREMONT, CA -- (Marketwire) -- 10/29/09 -- AXT, Inc. (NASDAQ: AXTI), a leading manufacturer of compound semiconductor substrates, today announced three executive promotions.
Raymond A. Low, formerly AXT's vice president, corporate controller and acting chief financial officer, has been appointed vice president and chief financial officer.
Davis Zhang, formerly AXT's president of joint venture operations, has been appointed president of AXT China Operations, with responsibility for managing and developing AXT's joint venture operations, as well as assisting chief executive officer, Dr. Morris Young, with the management of AXT's manufacturing facilities in China.
Robert G. Ochrym, formerly AXT's vice president of business development, has been appointed vice president of business development, strategic sales and marketing. His responsibilities include sales for the North American East Coast, as well as for Europe, continuing to work closely with John J. Cerilli, vice president of global sales and marketing, to maximize customer support around the world. He will also be responsible for developing sales and marketing strategies, major sale contract negotiations, major market identification and other strategic sales and marketing functions.
"The Board and I are very pleased to announce the promotions of Davis, Bob and Raymond," said Morris Young, chief executive officer. "Each of these individuals has made significant contributions to AXT and I am looking forward to further leveraging their talents in expanded roles.
"Davis has been instrumental in the success of our joint venture program and his knowledge of our business and customer needs make this new position a natural fit. Further, by bringing together two critical functions of manufacturing and joint venture operations, we can better plan and respond to the present and future needs of our customers.
"Bob has a wealth of contacts and experience in our industry and we are excited to leverage his knowledge to further enhance the reach and success of our sales and marketing efforts. We believe that we have great opportunities to grow our market share with a number of the customers that we currently serve as well as with new customers that we do not presently supply. Further, we are continuing to explore new applications for our products in wireless devices, LEDs and photovoltaics that expand our addressable market and provide further opportunity for growth.
"Raymond has a strong financial background and a deep understanding of our financial structure, which has allowed him to transition smoothly into his permanent role as our chief financial officer. He is a tremendous asset to AXT and the Board and I are very pleased to work with him in this new position," said Young.
Davis Zhang co-founded AXT in 1986.
