PITTSBURGH - Coherent Corp. (NYSE: NYSE:COHR), a company specializing in materials, networking, and lasers, announced today the appointment of Rob Beard as the new Chief Legal and Global Affairs Officer, and Corporate Secretary. The announcement comes as the previous Chief Legal Officer, Ron Basso, steps into retirement.
Rob Beard brings over two decades of technology industry experience to his new role at Coherent. He transitions from Mastercard Incorporated (NYSE:MA), where he held the same title. Prior to his tenure at Mastercard, Beard spent nearly ten years at Micron Technology (NASDAQ:MU), Inc., where his roles included General Counsel and Corporate Secretary. His experience extends to managing global legal, intellectual property, and ethics and compliance functions, particularly in the semiconductor industry.
In addition to Beard's appointment, Coherent has promoted Marie Batz Martin to Chief Compliance Officer, who will report to Beard.
Jim Anderson, Chief Executive Officer of Coherent, expressed confidence in Beard's capabilities. "His broad experience in the semiconductor industry, international policy experience, and expertise in business and law make him an excellent partner and counselor to help us unlock Coherent's full potential," Anderson stated.
Beard himself expressed enthusiasm about joining the Coherent team, citing the company's "strong culture of innovation across multiple high-growth markets."
Coherent aims to leverage Beard's extensive background in strategic transactions across global markets, including Japan, Taiwan, Europe, China, and Singapore, to further its growth and maintain its position in the market.
The company also acknowledged Ron Basso's contributions and leadership, ensuring a smooth transition of responsibilities to Beard.
This leadership change comes as Coherent continues to innovate in its core markets, including industrial, communications, electronics, and instrumentation, with a global footprint in research and development, manufacturing, sales, service, and distribution.
The information in this article is based on a press release statement from Coherent Corp.
In other recent news, Coherent Corp. has been the focus of significant developments. The company's fourth-quarter revenue saw a 9.1% year-over-year increase, reaching $1.31 billion, with adjusted earnings per share at $0.61, surpassing consensus forecasts. Coherent has also undergone leadership changes, promoting CEO James R. Anderson to President and appointing Sherri Luther as CFO.
The company's strategic moves include the sale of its Newton Aycliffe manufacturing facility in the UK and the unveiling of advanced transceiver modules at the European Conference on Optical Communication. Analysts from B. Riley and Needham have adjusted their stance on the company, with B. Riley downgrading the stock to a Neutral rating and Needham maintaining a Buy rating and increasing their price target to $120.
Coherent's AI transceiver business has been highlighted as a significant contributor to its growth prospects. The company's first-quarter revenue for fiscal 2025 is anticipated to range from $1.27 billion to $1.35 billion, with adjusted earnings per share projected to be between $0.53 and $0.69. These developments are part of the recent news shaping the trajectory of Coherent Corp.
InvestingPro Insights
As Coherent Corp. (NYSE: COHR) welcomes Rob Beard to its leadership team, investors may be interested in the company's recent financial performance and market position. According to InvestingPro data, Coherent has a market capitalization of $15.17 billion, reflecting its significant presence in the materials, networking, and lasers sectors.
The company's stock has shown remarkable strength recently, with InvestingPro reporting a 216.77% price total return over the past year. This impressive performance extends to shorter timeframes as well, with a 99.41% return over the last six months. These figures suggest that investors have been responding positively to Coherent's strategic moves and market positioning.
However, it's worth noting that Coherent's financial picture is mixed. An InvestingPro Tip indicates that the company was not profitable over the last twelve months, with a negative adjusted P/E ratio of -62.83. Despite this, analysts predict that Coherent will be profitable this year, which could be a positive sign for the company's future performance under its new leadership.
Another InvestingPro Tip highlights that Coherent's stock price movements are quite volatile. This volatility, combined with the strong recent returns, suggests that investors should carefully consider their risk tolerance when evaluating the stock.
For those seeking a more comprehensive analysis, InvestingPro offers 14 additional tips for Coherent Corp., providing a deeper understanding of the company's financial health and market position. These insights could be particularly valuable as the company transitions to new legal leadership and continues to navigate its growth markets.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.