Axcelis CFO to Retire (ACLS)

Axcelis Technologies, Inc. ACLS today announced that Stephen Bassett, the company's Chief Financial Officer, will retire on March 31, 2011. The company has initiated a search for his successor. Bassett joined Axcelis in 2003 as Executive Vice President and Chief Financial Officer. During his time with the company, he was instrumental in improving Axcelis' business model by significantly reducing expenses and rebuilding its balance sheet.