#United States #Hayward #Ultra Clean #Clarence Granger #Jim Scholhamer

Ultra Clean Holdings, Inc. Announces New Interim CEO

Ultra Clean Holdings, Inc. (Nasdaq: UCTT) has made headlines with the immediate resignation of Jim Scholhamer from his position as Chief Executive Officer due to personal health reasons. In a move to ensure continuity and stability in leadership, the board has appointed Clarence Granger, the company's Chairman and a founding member, as interim CEO.

Granger, who has a long history with Ultra Clean, has served on the Board of Directors since May 2002 and has held multiple roles within the company, including Chief Operating Officer and Executive Vice President of Operations. Between 2003 and 2015, he notably held the title of CEO, leading the company through various market cycles and building a robust operational framework that has propelled Ultra Clean within the semiconductor industry. His wealth of knowledge regarding the company’s operations, resources, and market position makes him an ideal candidate for the interim role.

In a statement following the announcement, Granger expressed gratitude towards Scholhamer, acknowledging his contributions to the company, particularly during times of significant growth amid several semiconductor cycles and the challenges posed by a global pandemic. Under Scholhamer, Ultra Clean cultivated a high-performance team dedicated to fulfilling the company’s growth trajectory and strategic objectives.

With Granger returning to an executive capacity, he emphasized the strength of Ultra Clean's leadership team, stating, “The experienced leadership team has demonstrated the ability over several years to continually outgrow the WFE industry due to their deep relationships with their customers, strong manufacturing execution, and technical expertise.”

Ultra Clean has been redefining its operational strategies and diversifying its product offerings to meet the increasing demand within the semiconductor sector. The company has expanded its portfolio to cover all stages of industry growth, from fabrication construction to equipment servicing. With an enhanced capacity and focus on operational excellence, Ultra Clean aims to capitalize on emerging market opportunities and support its customers effectively.

To facilitate communication of this leadership transition, Ultra Clean will host a conference call and webcast at 1:30 PM PT today. Participants can join by calling 1-800-836-8184 or 1-646-357-8785, with no passcode needed for access. A replay of the call will be available for those who cannot attend live.

About Ultra Clean Holdings, Inc.

Ultra Clean Holdings is a premier provider and developer of critical subsystems, components, and ultra-high purity cleaning services, primarily serving the semiconductor industry. Their innovative approach offers integrated outsourcing solutions that streamline the design and delivery processes, enhancing efficiency. The Services Division focuses on tool chamber parts cleaning, coatings, and contamination analysis. Headquartered in Hayward, California, Ultra Clean continues to position itself as a market leader in the semiconductor supply chain. More details about its products and services can be found on the company’s website.

Looking Forward

The board of Ultra Clean is actively forming a search committee to identify a permanent replacement for Scholhamer. The transition reflects not only the company’s resilience but also its capability to adapt to changes in leadership while sustaining its strategic vision. Investors and market observers will be keenly awaiting updates on the search for a new permanent CEO and the company’s ongoing performance in the robust semiconductor sector.

The challenges ahead may be complex, yet with Granger at the helm temporarily, Ultra Clean is set to navigate its course through the ever-evolving landscape of the semiconductor industry.