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14 Apr 2025, 05:53
IPG Photonics Extends Consulting Agreement with Former CTO Dr. Alexander Ovtchinnikov
MARLBOROUGH, Mass., April 11, 2025 – IPG Photonics Corporation (Nasdaq: IPGP) announced today that it has amended its consulting agreement with Dr. Alexander Ovtchinnikov, the company’s former Senior Vice President and Chief Technology Officer.
Under the revised terms, Dr. Ovtchinnikov will continue to serve in a consulting capacity through December 31, 2025, providing technology advisory services. He will be compensated at a rate of $10,000 per month for the duration of the extended term.
The amendment builds upon the original services agreement dated August 15, 2024, and reflects the company’s continued reliance on Dr. Ovtchinnikov’s technical expertise in photonics and optical technologies.
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MARLBOROUGH, Mass., April 11, 2025 – IPG Photonics Corporation (Nasdaq: IPGP) announced today that it has amended its consulting agreement with Dr. Alexander Ovtchinnikov, the company’s former Senior Vice President and Chief Technology Officer.
Under the revised terms, Dr. Ovtchinnikov will continue to serve in a consulting capacity through December 31, 2025, providing technology advisory services. He will be compensated at a rate of $10,000 per month for the duration of the extended term.
The amendment builds upon the original services agreement dated August 15, 2024, and reflects the company’s continued reliance on Dr. Ovtchinnikov’s technical expertise in photonics and optical technologies.
Let me know if you'd like this reformatted for press distribution or investor relations purposes.
