IPG Photonics Appoints Dr. Mark Gitin as New CEO

IPG Photonics Corporation (IPGP) just unveiled an update.

IPG Photonics Corporation ushers in a new era with Dr. Mark Gitin taking the helm as CEO on June 5, 2024, succeeding Dr. Eugene Scherbakov. With over 25 years in the optics and laser industry, Dr. Gitin brings a wealth of experience from his time at MKS Instruments and Coherent, Inc. His appointment accompanies an expansion of the Board to eleven members and a comprehensive employment agreement, including a significant base salary, bonuses, equity awards, and relocation assistance. Meanwhile, Dr. Scherbakov will transition to an advisory role, continuing to vest in equity awards and receiving consultancy fees.

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