AXT appoints CEO Morris Young as Board Chairman alongside Jesse Chen named Lead Independent Director

– USA, CA –  AXT, Inc. (Nasdaq: AXTI), a leading manufacturer of compound semiconductor substrates, today announced the appointment of its CEO, Morris Young to the additional role of Chairman of the Board of Directors, effective Aug. 12, 2021. Jesse Chen, who has served as Board Chairman since 2009, will continue to serve as Lead Independent Director and as a member of the Board.

Dr. Young has been Chairman of Tongmei since its founding in 1998 and will continue in this role. Previously, Dr. Young served as AXT’s Chairman of the Board of Directors from February 1998 to May 2004.

About AXT, Inc.

AXT is a material science company that develops and manufactures high-performance compound and single element semiconductor substrate wafers comprising indium phosphide (InP), gallium arsenide (GaAs), and germanium (Ge). The company’s substrate wafers are used when a typical silicon substrate wafer cannot meet the performance requirements of a semiconductor or optoelectronic device. End markets include 5G infrastructure, data center connectivity, passive optical networks, LED lighting, lasers, sensors, power amplifiers for wireless devices, and satellite solar cells. AXT’s worldwide headquarters are in Fremont, California where the company maintains sales, administration, and customer service functions. AXT has its Asia headquarters in Beijing, China, and manufacturing facilities in three separate locations in China. In addition, as part of its supply chain strategy, the company has partial ownership in ten companies in China producing raw materials for its manufacturing process.

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