The latest announcement is out from Emcore Corp (EMKR).
On May 7, 2024, Jeffrey Rittichier stepped down as CEO and director of the company, with an anticipated separation agreement aligned with his 2014 Employment Agreement. The following day, Matthew Vargas, the VP of Sales, was appointed as interim CEO, with compensation including a $375,000 base salary, potential bonuses, and stock units. Simultaneously, Tom Minichiello, the CFO, took on the additional role of interim Principal Executive Officer without extra pay. Both appointees have robust industry experience and no familial ties with other company executives or material interests requiring disclosure.
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