Photronics announces separation agreement with general counsel after internal review
Brookfield-based manufacturer Photronics has parted ways with its long-time general counsel, Richelle Burr, several months after placing her on leave.
Burr retired from her position as executive vice president, chief administrative officer and secretary of the company effective Sept. 30, according to a notice Photronics filed with the Securities and Exchange Commission.
Under a separation agreement, Burr will receive a payment of $516,086, equal to a year of her base salary, and the continued vesting of 48,750 shares of restricted stock.
In June, the company disclosed that it had placed Burr on paid administrative leave, saying in another SEC filing that it had launched an “ongoing internal review regarding certain Company transactions and other matters."
The company did not reply to a request for more information on the investigation or the separation agreement.
Burr joined Photronics in 2003, and had served as general counsel since 2010.
Photronics was founded in Danbury in 1969 and moved to Brookfield in 1978. The company makes photomasks for the semiconductor industry – photographic plates containing microscopic images of electronic circuits.
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