Axcelis Technologies Inc. (NASDAQ: ACLS) announced that David Ryzhik, Senior Vice President of Investor Relations and Corporate Strategy, has been appointed Interim Chief Financial Officer effective March 12.

James Coogan is leaving the company to pursue a CFO opportunity at a public company in a different industry. Coogan will remain with Axcelis through April 24 to ensure a smooth transition, according to the company's statement.

Axcelis will initiate a search process with the assistance of an executive search firm to identify its next CFO.

Ryzhik has served as Senior Vice President of Investor Relations and Corporate Strategy at Axcelis since July 2024. He brings more than 20 years of finance and investor relations experience across multiple industries. Prior to joining Axcelis, Ryzhik was Vice President of Investor Relations at MKS Instruments and previously served as a Senior Equity Research Analyst at Susquehanna International Group.

"We are fortunate to have a leader like David available to step into the role of Interim CFO," said President and CEO Russell Low. "David has deep knowledge of our business, strategy, financial operations and investor relations function, and he has played a significant role in our pending merger with Veeco."

Ryzhik holds a Master of Business Administration in Financial Management and a Bachelor of Business Administration in Finance and Accounting from Pace University's Lubin School of Business.

The Beverly, Massachusetts-based company provides ion implantation systems for the semiconductor industry. The appointment comes as Axcelis is working on integration planning efforts with Veeco as part of their pending merger.