Coherent Corp.

Coherent Corp.

Company type	Public
Industry	Optical materials, Semiconductor technologies
Founded	1971
Founder	Carl Johnson, James Hawkey
Headquarters	Saxonburg, Pennsylvania , United States
Key people	Jim Anderson (CEO)
Number of employees	26,622 (2023)

Coherent Corp.—previously known as II-VI Incorporated—is an American manufacturer focused on optical materials and semiconductor technologies. By 2023, the company employed 26,622 individuals. It is publicly listed on the New York Stock Exchange under the symbol COHR. In 2022, II-VI expanded its global footprint in materials science, networking, and laser sectors by acquiring laser producer Coherent, Inc. and adopting the Coherent name.

History

Originally established as II-VI Incorporated in 1971 by founders Carl Johnson and James Hawkey, the company’s name derives from groups II and VI of the periodic table, reflecting its early production of cadmium telluride-based components. Initial product lines consisted of lenses, windows, and mirrors designed for CO lasers.

The firm went public in 1987 through an initial public offering to fund increased zinc selenide manufacturing capabilities. During the 1990s and 2000s, II-VI implemented a growth approach combining internal development with strategic acquisitions. Notable acquisitions included Litton Systems’ silicon carbide unit, Virgo Optics, Lightning Optical Corporation—which led to the creation of the VLOC division specializing in one-micron solid-state lasers—Laser Power Optics, Marlow Industries, HIGHYAG (majority ownership acquired in 2007 and full acquisition by 2013), Photop Technologies, Oclaro’s optics coating plant, Anadigics, EpiWorks, and Integrated Photonics.

These acquisitions broadened II-VI’s offerings in vertical-cavity surface-emitting lasers (VCSELs), essential for 3D sensing applications. The purchase of Finisar Corporation in 2019 further enhanced II-VI’s production capacity for high-volume 3D VCSELs and integration of indium phosphide lasers for transceiver modules. Additional acquisitions such as INNOViON, Ascatron, and intellectual property from GE reinforced its silicon carbide substrate segment. The 2022 acquisition of Coherent, Inc., followed by rebranding to Coherent Corp., marked a significant milestone in the company’s evolution.

Carl Johnson led as CEO from 1985 until 2007 before transitioning to chairman until 2014. He was succeeded by Francis Kramer as CEO and later chairman. Vincent D. (Chuck) Mattera, Jr. became CEO in 2016 and assumed chairmanship in 2021 after Kramer moved to Chair Emeritus status. Mattera announced his retirement effective with the appointment of a successor in early 2024. Jim Anderson, previously with Lattice Semiconductor Corporation, was named CEO in June 2024.

This combination of focused leadership transitions and strategic acquisitions has propelled Coherent’s expansion and strengthened its position across photonics and semiconductor markets worldwide.

CEO salary

In May 2025, Barron's revealed that James Anderson, Coherent’s newly appointed CEO, earned the highest compensation among CEOs in 2024, outpacing prominent figures such as Jensen Huang, Tim Cook, and Elon Musk.

Locations and facilities

Coherent Corp.’s main office is situated in Saxonburg, Pennsylvania, located north of Pittsburgh within Butler County. The organization maintains research and development, manufacturing, sales, service, and distribution operations at over 130 sites worldwide.

The Saxonburg campus occupies a historically significant location once owned by KDKA, recognized as the world’s first commercially licensed radio station. In the 1940s, this site was expanded into a 400 MeV synchrocyclotron research center operated by the Carnegie Institute of Technology alongside the U.S. Nuclear Regulatory Commission. II-VI purchased this facility in 1978 and has continuously invested in its development since then.