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Sean T. Smith was promoted to Senior Vice President in 2005. Prior to his current position he was elected as the Company's Vice President and Chief Financial Officer in 2002 after initially serving as the Company’s Corporate Controller.
Since assuming the Chief Financial Officer position, Mr. Smith has lead the finance team to work closely with each of the Company’s departments by focusing attention on three key areas that have been essential in broadening its competitive position.
These include strengthening Photronics’ financial position; partnering with operations management and support functions to streamline the global manufacturing network that improves the Company’s ability to generate free cash flow; and raising capital in support of a global strategic investment plan to enhance Photronics’ capabilities required to support technology driven customers.
Mr. Smith’s vision and ability to orchestrate strategic activities across Photronics’ global organization were critical in two separate streamlining initiatives that resulted in the successful consolidation of facilities in Europe and North America.
Furthermore, his vast experience in working with both commercial and investment bankers led to the mutually beneficial renegotiation of the Company’s $100 million multi-currency credit facility and the successful placement of $150 million in convertible securities. The results of these actions enabled the Company to further strengthen its focus on customer service and deliver technological excellence.
Prior to joining Photronics, Mr. Smith was Vice President and Chief Financial Officer of Carvel Corporation. In addition to his experience at Carvel, Mr. Smith served as Controller and Chief Accounting Officer for Starter Corporation, a publicly held apparel-licensing firm, as well as 12 years of public accounting experience with the accounting firm of Ernst & Young.
Mr. Smith is a Certified Public Accountant who graduated with honors from Quinnipiac College in Hamden, Connecticut where he has since returned and served as an adjunct faculty member. | 