Veeco says CFO and COO Maheshwari to resign
In a regulatory filing last night, Veeco disclosed that on December 11, Shubham Maheshwari, Veeco's Executive Vice President, Chief Financial Officer and Chief Operating Officer, notified Veeco of his intention to resign from the company, in conjunction with Veeco's general efforts to reduce cost and de-layer the organization, and to move back to the west coast with his family. "Mr. Maheshwari's resignation is not a result of any disagreement with the company. To facilitate a smooth transition, Mr. Maheshwari will remain with the Company until a successor is named and will remain available to assist with the completion of Veeco's year-end audit and the filing of its 2019 annual report on Form 10-K. In exchange for agreeing to stay for the transition period, Mr. Maheshwari will be eligible to receive the non-change-in-control separation benefits described in the letter agreement between him and Veeco dated April 8, 2014, as amended August 29, 2018 and March 22, 2019," the company stated.