CEO Tom St. Dennis named Executive Chairman; Carl Everett named Lead Independent Director

LIVERMORE, Calif. — October 24, 2013 — FormFactor, Inc. (Nasdaq: FORM) today announced the appointment of Mike Slessor as president and as a member of the company’s Board of Directors, and CEO Tom St. Dennis as Executive Chairman of the Board. St. Dennis’ new role follows the decision of Carl Everett, current Chairman of the Board, to not run for re-election to the FormFactor Board at the 2014 Annual Meeting of Stockholders. Everett will assume the role of Lead Independent Director. All appointments are effective October 24, 2013.

In his new role as president, Slessor will lead all of the Company’s product marketing, engineering, manufacturing and supply chain activities. Since October 2012 Slessor has served as senior vice president and general manager of the company’s MicroProbe Product Group, which was created after the company’s acquisition of Astria Semiconductor Holdings, including its subsidiary MicroProbe, Inc. Prior to being at FormFactor, Slessor served as a director and the president and CEO of MicroProbe from July 2008 through the October 2012 closing of FormFactor’s acquisition of MicroProbe. Prior to joining MicroProbe, Slessor held various management, product-marketing, and applications-engineering positions in the semiconductor industry, and brings to the FormFactor Board of Directors extensive international industry and probe card specific experience.

“The FormFactor Board is confident that Mike and Tom are the right team to lead the company toward long-term profitable growth,” said Carl Everett, FormFactor’s Chairman. “Tom has made significant progress stabilizing the company’s performance and implementing the company’s turn-around, as most recently evidenced by two consecutive quarters of positive cash flow. Mike’s performance in leading the MicroProbe Product Group makes the Board confident he is the right person to lead the company’s product groups and drive further integration synergies.”

“After navigating through some difficult challenges over the past several years, FormFactor continues to be a critical supplier to the semiconductor industry as the leader in advanced probe cards,” commented Slessor. “I am excited about bringing our Product Groups together to further improve our competitiveness and profitability, and joining the Board’s strategic oversight of the company’s future.”