Axcelis Names Jeroen Delsman CFO, Sets Nov. 12 Start Date

Axcelis Technologies named finance executive Jeroen Delsman its next chief financial officer, with a Nov. 12 start date as interim CFO David Ryzhik shifts to a role covering the pending Veeco merger.

The board approved the appointment Oct. 24, and Axcelis announced it Oct. 27. Ryzhik will become senior vice president of corporate development and investor relations, reporting to President and CEO Russell Low. His responsibilities will include planning and carrying out integration work for the proposed merger.

Delsman, 50, joins from Ferrotec USA Corporation, where he was a vice president. His career includes 18 years in the semiconductor industry and more than 26 years in finance and accounting. He held finance and operations posts at Sanmina, including vice president of finance and controller for its printed circuit board division. At Veeco Instruments Inc., he was vice president of business finance and operations. He also held finance leadership roles at Lam Research, Novellus Systems, McKesson and Silicon Graphics.

Axcelis supplies ion implantation systems for the semiconductor industry. Delsman said, “I look forward to working with the leadership team, Board and talented finance organization.”

His offer letter sets an annual base salary of $500,000 and eligibility for Axcelis’ Team Incentive plan beginning in 2027. The incentive target is 75% of his base salary. The package also includes a $352,000 cash sign-on bonus, payable when he starts, and an $80,000 relocation bonus. He must repay either bonus if he voluntarily leaves or is terminated for cause within one year of starting.

Delsman will receive a restricted stock unit award with a grant-date value of $1.2 million. The $1.2 million award is contingent on continued employment and is scheduled to vest in three tranches: 33.33% at six months, 33.33% at two years and 33.34% at three years. He is also eligible for annual equity awards with expected grant-date target values of at least $1.2 million.

After the Veeco merger closes, Delsman is expected to receive a separate three-year performance-based equity grant with a $1.2 million grant-date target value, subject to approval by the combined company’s board. His CFO appointment takes effect Nov. 12.