April 16, 2003 – Portland, OR – Electro Scientific Industries Inc. (ESI), a supplier of manufacturing equipment, said that James Dooley, the company’s president and CEO, has been placed on administrative leave of absence pending the results of an ongoing review of the company’s financial statements for FY03 and that Barry Harmon has been named president and CEO.
In addition, Jon Tompkins has been named chairman of the board to succeed David Bolender. Harmon and Tompkins both are currently directors of the company. Dooley and Bolender will remain directors of the company.
As announced on March 20, the company is conducting a review primarily focused on the company’s financial statements for FY03, and the company intends to restate its financial statements for the quarters ended Aug. 31, 2002, and Nov. 30, 2002 as a result of the review.