Dr Mattera’s intention to retire does not reflect a dispute or disagreement. The company’s board has retained a leading executive search firm to immediately commence a comprehensive search process, which will include evaluating internal and external candidates, to identify a new CEO to lead the company into the future. A subcommittee of the board has been formed to oversee the search process.

Dr Mattera, 68, has served with Coherent for twenty years, the last eight of which have been as CEO. He is the company’s third CEO since its founding in 1971 as II-VI Incorporated. He has also served as chair of the company’s board of directors since November 2021. During his tenure, Dr Mattera led the transformation of II-VI, a premier supplier of engineered materials and optoelectronic components, into Coherent Corp, a global, diversified company enabling multiple irreversible megatrends in the industrial, communications, electronics, and instrumentation markets. Over his twenty years, the company’s annual revenue grew from 150 million dollars in fiscal 2004 to more than 5 billion in fiscal 2023.

“Leading this 53-year-old company through its multi-decade growth transformation has been an incredible privilege,” said Dr Mattera. “I want to acknowledge and deeply thank our employees, investors, customers, partners, and especially our Leadership Team, as well as my fellow board members, for our shared accomplishments and for helping make my years at Coherent so rewarding and impactful.” 

“Since the strategic combination of II-VI and Coherent two years ago, I am most proud of the tremendous progress we have made to integrate our two organizations, optimize synergies, and place the company in an advantaged position for accelerated growth. With Coherent on a clear path to improved margins and continued profitable growth, its track record of product leadership, customer intimacy, operational excellence, and the unstoppable imagination of our world-class people, I believe that now is the right time to look toward the next chapter of the company’s transformation,” Dr Mattera said.