SiliconBeat

Mattson Technology made an abrupt change in its top executive ranks Thursday when it named Andrew Moring its new chief financial officer using the rarely reassuring phrase “effective immediately”, according to a regulatory filing.

The new CFO was previously a senior vice president for Mattson serving as its controller since 2006. Prior to joining Mattson, he spent 17 years at Applied Materials in operational and financial positions, ultimately as vice president of global internal audit.

The “old” CFO, William Turner, who took over the position in January 2007, has resigned to “pursue other opportunities”. Prior to being named CFO, Turner served as senior vice president of finance for Mattson from August 2006, and had served on Mattson’s board as chairman of its audit committee from November 2002 to July 2006. He previously worked at another chip-equipment maker, KLA-Tencor, where he was corporate controller from 1996 to 1997.

Mattson gave Turner a $60,556 signing bonus when he joined the company in August 2006, and
allowed him $50,000 in relocation payments.

Shares of Mattson, which have lost nearly half their value over the last year, climbed 30
cents, or 6.3 percent, to $5.09 Friday.