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Russell J. Low

President and Chief Executive Officer at AXCELIS TECHNOLOGIES
Board
Since May 11, 2023
Age
54 years
Education
Holds a Ph.D. in an unspecified field.
Tenure
Joined ACLS in October 2016 as Executive Vice President, Engineering, was promoted to Executive Vice President, Global Customer and Engineering Operations in January 2021, and became President and Chief Executive Officer on May 11, 2023.

Also at AXCELIS TECHNOLOGIES

CJT
Christopher J. Tatnall
Executive Vice President, Global Customer Operations
GMB
Gerald M. Blumenstock
Executive Vice President, Research, Development and Engineering
GFR
Gregory F. Redinbo
Executive Vice President, Marketing and Applications

About

Russell J. Low, currently 54 years old and holding a Ph.D., has built a strong foundation in the semiconductor industry. He has developed extensive expertise through roles in engineering and management within leading companies in the sector.

He began his tenure at ACLS in October 2016 as Executive Vice President, Engineering. Later, he advanced to serve as Executive Vice President, Global Customer and Engineering Operations in January 2021, before assuming the role of President and Chief Executive Officer on May 11, 2023.

Dr. Low’s career is marked by a commitment to technological excellence and operational leadership. His contributions have supported improvements in financial performance and market share at ACLS, while he also engages in industry initiatives through his roles on the North American Advisory Board of SEMI International and the Massachusetts High Tech Council.

$ACLS Performance Under Russell J. Low

Past Roles

OrganizationRoleDate RangeDetails
Axcelis Technologies (ACLS) Executive Vice President, Global Customer and Engineering Operations Jan 2021 - May 2023 Ended role due to promotion to CEO
Axcelis Technologies (ACLS) Executive Vice President, Engineering Oct 2016 - Jan 2021 (approx.) Held until promotion to higher role
Veeco Instruments Vice President of Engineering, MOCVD Business Unit 2013 - 2016 Responsible for engineering operations in the MOCVD Business Unit
Veeco Instruments Senior Director of Engineering, Molecular Beam Epitaxy Business Unit 2012 - 2013 Led engineering efforts in the Molecular Beam Epitaxy Business Unit
Varian Semiconductor Equipment Associates Various roles including Director of Technology 2003 - 2012 N/A
Applied Materials, Inc. Engineering positions in Thermal Processing and Ion Implant Divisions 1997 - 2003 N/A

External Roles

OrganizationRoleDate RangeDetails
SEMI International North American Advisory Board (NAAB) Member N/A Current position outside ACLS
Massachusetts High Tech Council Member N/A Current position

Fixed Compensation

Data from  FY 2024
Component NameAmountPayment ScheduleAdditional Details
Base Salary$633,000 Annual Minimum base salary per Employment Agreement
Service-Based RSU Awards14,244 Shares 25% vest annually over 4 years starting May 15, 2024 Vesting on each anniversary of grant date, subject to continued employment
All Other Compensation$11,367 Annual Includes COBRA premiums and other benefits

Performance Compensation

Data from  FY 2024

Non-Equity Incentive Plan Compensation (Cash)

MetricValueDetails
Amount ($USD)$431,706 Paid under the 2024 Axcelis Management Incentive Plan; realized at a plan score of 68.2%
Performance Metrics68.2%Based on profit plan revenues, profitability, and gross margin
Evaluation Period2024Annual performance evaluation for the fiscal year 2024

Performance-Based RSU Awards (PRSUs)

MetricValueDetails
Threshold (Shares)1,781 Minimum performance level for RSU accrual
Target (Shares)14,244 Target number of shares under performance conditions
Maximum (Shares)21,366 Cap at 150% of the target upon full achievement
Achievement Weighting2 goals at 25%; 8 goals at 12.5% each 10 operational goals set to drive long-term value
Vesting Schedule50% in Feb 2025; 50% in Feb 2026 Vesting contingent on continued employment
Grant DateMay 15, 2024 Official grant date for the RSU awards
Grant Date Fair Value ($USD)$1,608,717 Based on valuation assumptions as per the Stock Award Plans
Grant Date Stock Price$112.94 Price used for determining the award value at grant
Performance Outcome150% of target earned All 10 operational goals achieved, resulting in 150% of the target number of shares being awarded