IPG Photonics Corporation (IPGP)

Mark Gitin has been chief executive since June 2024. He came from MKS, where he ran the Photonics Solutions Division, and before that spent March 1995 to September 2017 at Coherent, where his posts included running its diodes, fibers and systems unit; both companies appear on IPG's own list of competitors. He succeeded Eugene Scherbakov, chief executive from May 2021 to June 2024, who had run IPG's German subsidiary from August 2000, has sat on the board since September 2000 and now serves as a senior advisor. The founder, the late Valentin Gapontsev, had been chief executive and board chair. 12345

Much of the rest of the team is long-serving. Timothy Mammen has been chief financial officer since July 2000, after running the finances and UK operations of IPFD, a company the founder created; Angelo Lopresti, a former partner at the law firm Winston & Strawn, has been general counsel since February 2001. Igor Samartsev, a co-founder, has been chief scientist since February 2022, after serving as chief technology officer from 2011. Trevor Ness, at IPG since January 2011, became chief revenue officer in September 2025, in charge of sales, service and the defense business. The newest executive officer, Paulus Bucher, joined in June 2025 from Adtran to run global operations, one of several senior hires the proxy statement says Gitin led in 2025. 6789101112131415

The founder's circle still carries great weight. IP Fibre Devices (UK) Ltd., whose sole managing director is Eugene Scherbakov, and trusts the founder created together own about 36% of the common stock; Scherbakov is also one of the trustees, and the filing says they have significant influence on director elections and major transactions. Seven of the ten board nominees are independent. John Peeler, a former chief executive of Veeco Instruments and a director since 2012, has chaired the board since October 2021; the directors include Eric Meurice, chief executive of ASML from 2004 to 2013, and Natalia Pavlova, a significant stockholder, a former IPG sales and marketing employee and the spouse of Igor Samartsev. 1617181920212211

At the end of 2025 IPG had about 4,840 full-time employees: 3,590 in manufacturing and service, 440 in research and development, 390 in sales and marketing and 420 in general and administrative work. They are spread over more than thirty locations in twenty-four countries, with about 2,070 in the United States and 1,650 in Germany. The company says it has never had a work stoppage and that no employee at its principal factories is covered by a collective bargaining agreement, meaning a union contract. 232425