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01/05/2015

UCT Announces New Chief Executive Officer

UCT announces the hiring of James Scholhamer as Chief Executive Officer and retirement of Clarence Granger

HAYWARD, Calif., January 5, 2015 /PRNewswire/ — Ultra Clean Holdings, Inc. (“UCT”) (Nasdaq: UCTT) today announced that Mr. James Scholhamer has accepted an offer to become UCT’s Chief Executive Officer, effective Monday, January 19, 2015. Mr. Scholhamer will also join UCT’s Board of Directors effective as of his first day of employment. UCT’s current Chairman and Chief Executive Officer, Clarence Granger, has decided to retire as an officer of the company, effective Monday, January 19th. Mr. Granger will remain UCT’s non-executive Chairman of the Board of Directors.

Mr. Scholhamer has had an eight-year tenure at Applied Materials, Inc., and has most recently been Corporate Vice President and General Manager, leading the Equipment Products Group and Display Services Groupof Applied Materials’ Global Service Division. Prior to joining Applied Materials, Mr. Scholhamer was Chief Operating Officer, Chief Technology Officer and Executive Vice President of Applied Films Corporation, which was acquired by Applied Materials in 2006. Mr. Scholhamer holds a bachelor degree in Materials Science and Engineering from the University of Michigan, Ann Arbor.

“After almost two decades with the company and twelve years as CEO, it is time for me to transfer the company’s helm to a new generation of leadership. I am very excited that we have found someone of Jim’s caliber to take on this role,” said Mr. Granger. “I am confident that we are well positioned for the next phase of the company’s growth, and I look forward to supporting Jim and the company in my role as Chairman.”

“I am very excited to lead UCT as we write the next chapter of the company’s history,” said Scholhamer. “I want to thank Clarence, the Board, the management team, and all the employees who have worked so hard and so long to nurture and grow a world class organization. I’m looking forward to building on that foundation by working with the team to take advantage of our potential, create growth opportunities for those employees, and generate attractive returns for our shareholders.”

“Our Board of Directors is confident that Jim will make significant, long-term positive contributions to the Company,” said UCT Director David ibnAle, Chairman of the Nominating and Governance Committee. “We are extremely grateful for Clarence Granger’s contributions to UCT during his tenure as CEO. Clarence has been the company’s only CEO during its twelve years as an independent company, and he has grown the company successfully across some very challenging cycles and market environments.”

During Granger’s tenure as CEO – from November 2002 through January 2015 – UCT:

  • Grew revenue from $77.5 million (for the year ended December 31, 2003) to $520.2 million (for the twelve months ended September 26, 2014)
  • Built a manufacturing and services footprint that spans North America and Asia
  • Expanded the company’s capabilities and markets with the acquisitions of Sieger Engineering and American Integration Technologies
  • Increased cash to over $75 million at the end of the third quarter ending September 26, 2014

About Ultra Clean Holdings, Inc.

Ultra Clean Holdings, Inc. is a leading developer and supplier of critical systems and subsystems for the semiconductor capital equipment, flat panel display, medical, energy and research industries. UCT offers its customers an integrated outsourced solution for gas delivery systems and other subassemblies, improved design-to-delivery cycle times, component neutral design and manufacturing and component testing capabilities. Ultra Clean’s customers are primarily original equipment manufacturers for the semiconductor capital equipment, flat panel, medical, energy and research industries. Ultra Clean is headquartered in Hayward, California. Additional information is available at www.uct.com.

Safe Harbor Statement

The foregoing information contains, or may be deemed to contain, “forward-looking statements” (as defined in the US Private Securities Litigation Reform Act of 1995) which reflect our current views with respect to future events and financial performance. We use words such as “anticipates”, “projection”, “forecast”, “believes,” “plan,” “expect,” “future,”‘ “intends,” “may,” “will,” “estimates,” “predicts,” and similar expressions to identify these forward-looking statements. All forward-looking statements address matters that involve risks and uncertainties. Accordingly, the Company’s actual results may differ materially from the results predicted or implied by these forward-looking statements. These risks, uncertainties and other factors also include, among others, those identified in “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere in our annual report on Form 10-K for the year ended December 27, 2013 as filed with the Securities and Exchange Commission. Additional information is also set forth in our quarterly report on Form 10-Q for the quarter ended September 26, 2014 filed with the Securities and Exchange Commission. Our periodic filings with the Securities and Exchange Commission are publicly available on the Securities and Exchange Commission’s website at www.sec.gov. Ultra Clean Holdings, Inc. undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise unless required by law.

Contact:

Ultra Clean Holdings, Inc.

Casey Eichler

CFO

510/576-4704

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