Company: IPGP
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001111928-25-000023
Chunk: 67

Company: IPG PHOTONICS CORP
Filing Date: 2025-02-20
Form: 10-K
Item: Item 1
Chunk 67
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 equity compensation with our stockholders’ interests by linking realizable pay with operating metrics and stock performance.

•We provide comprehensive benefit options designed to retain our employees and support their families in living healthier and more secure lives. 

Employee recruitment, retention and development. IPG is committed to attracting the best talent from a broad array of sources to meet the current and future demands of our business. We have established relationships with trade schools, world-class universities, professional associations and industry groups to proactively attract talented and capable new hires. IPG sponsors formal apprentice and internship programs to build leadership capabilities for the future. IPG has a strong employee value proposition with a culture of innovation, driven by entrepreneurial spirit and embraced within an environment of individual respect, dignity and caring. 

We monitor employee turnover rates as our success depends upon retaining and investing in our highly trained manufacturing and technical staff. IPG strives to decrease voluntary turnover rates and thereby increase employee tenure by ensuring a combination of competitive compensation, individual developmental opportunities and personal career enrichment and growth. Our retention at the technical, professional and executive levels is high.

Executive Officers of the Registrant

The following table sets forth certain information regarding our executive officers as of February 20, 2025:

NameAgePosition with the CompanyMark M. Gitin, Ph.D.58Chief Executive OfficerAngelo P. Lopresti61General Counsel, Secretary and Senior Vice PresidentTimothy P.V. Mammen55Chief Financial Officer and Senior Vice PresidentTrevor D. Ness52Senior Vice President, Sales and Strategic Business DevelopmentIgor Samartsev, Ph.D.61Senior Vice President, Chief Scientist

Mark M. Gitin, Ph.D. has served as the Chief Executive Officer of the company since June 2024. Previously, Dr. Gitin served in a number of positions at MKS Instruments, including Executive Vice President and General Manager of MKS's Photonics Solutions Division since 2023. Prior to that, he served as Senior Vice President and General Manager of the Photonics Solutions Division from 2019 to 2023, and Vice President and General Manager of MKS's Photonics Business Unit from 2017 to 2019 and in 2018 he also assumed responsibility for the Instruments and Motion Business Unit. Prior to joining MKS, from March 1995 to September 2017, Dr. Gitin held various management positions covering a wide range of technologies at Coherent, Inc., including Vice President of Strategic Marketing, Vice President of Business Development, and Vice