EMCORE Corporation announced that its CEO, Jeffrey Rittichier, has decided to leave the Company effective immediately. Mr. Rittichier will continue to consult with the Board and assist with the transition to a new CEO. The Board has begun a search for a new CEO.

The Board will take the necessary time to complete this search. The Company will establish an Office of the CEO in the near term before the search for a permanent CEO is completed. Effective on May 8, 2024, the Company appointed Matthew Vargas, the Company?s current VP, Sales, as interim Chief Executive Officer.

Mr. Vargas, age 38, has served as the Company?s VP, Sales, since December 2022, after serving as the Company?s Sales Director from August 2022 until December 2022. Prior to joining the Company, Mr. Vargas served as the TACNAV Business Development Manager at KVH Industries Inc. from November 2020 until August 2022, when the Company acquired KVH?s inertial navigation business. From August 2018 to November 2020, he served as Vice President, Business Assistance of RI Commerce Corporation, a business support company.

From April 2015 to November 2020, Mr. Vargas served in various roles, including COO and Veteran Advocate, for Veterans Assembled Electronics, a company with the mission to meet the electronics industry workforce demand by leveraging the Veterans Administration and U.S. Department of Labor infrastructure. Mr. Vargas received a Bachelor of Science degree in Geography and Environmental Engineering at the United States Military Academy, and a Master of Business Administration (MBA) from University of Rhode Island.