Brooks Automation Inc. (BRKS) appointed former Energy Conversion
Devices Inc. (ENER) executive Mark D. Morelli as its new chief
operating officer.
Morelli, 47 years old, will have responsibility for all of the
business units of the semiconductor-equipment maker, which last
year entered the higher-margin life-science business and exited its
contract manufacturing business.
Energy Conversion Devices in May announced Morelli's resignation
as its president and chief executive as the maker and installer of
thin-film solar products for commercial and residential rooftop
products unveiled a global restructuring of its business. The
company's spokesman at the time said the resignation was under a
mutual agreement with Energy Conversion Devices' board.
Morelli's prior experience included United Technologies Corp.
(UTX), where he held several roles, including president of its
Carrier commercial refrigeration business.
A company spokesperson wasn't immediately available to offer
further details.
Brooks Automation in November reported that its fiscal
fourth-quarter earnings fell 50% on lower revenue and bookings and
as year-earlier results included gains from the
contract-manufacturing business, which was later sold.
Shares were up 1.4% to $10.41 in recent trading during a broad
market upturn. The stock is up over 13% in the past 12 months.
-By Tess Stynes, Dow Jones Newswires; 212-416-2481;
Tess.Stynes@dowjones.com