LAKE MARY, Fla., December 14, 2017 /PRNewswire/ -- FARO®
(NASDAQ: FARO), the world's most trusted source for 3D
measurement and imaging solutions for factory metrology,
construction BIM-CIM, product design, public safety forensics and
3D machine vision, today announced that its Board of Directors has
appointed Jeffrey A. Graves, Ph.D.,
President and Chief Executive
Officer of MTS Systems Corporation, and Yuval Wasserman, President and Chief Executive Officer of
Advanced Energy Industries, Inc., to the FARO Board of Directors,
effective as of December 11,
2017. With these appointments, FARO has expanded its Board to
eight directors.
"Following a comprehensive search process that included a focus
on technology and chief executive experience, we are pleased to
welcome Jeff and Yuval to the FARO Board," said Simon Raab, Ph.D., President, CEO and Chairman of FARO.
"With their extensive technology, management and operations
leadership experience, their individual and independent
perspectives will be a valuable resource to the Board as FARO
executes the next phase of its growth strategy."
About Jeffrey A. Graves,
Ph.D.
Jeffrey A. Graves, Ph.D. has
served as President and Chief
Executive Officer and a director of MTS Systems Corporation, a
leading global supplier of high-performance test systems and
sensors, since May 2012. From July
2005 to May 2012, he served as
President, Chief Executive Officer
and a director of C&D Technologies, Inc., a manufacturer,
marketer and distributer of electrical power storage systems for
the standby power storage market. Dr. Graves previously served in
various executive positions at Kemet Electronics Corporation from
2001 to 2005, including Chief Executive Officer; various leadership
positions with General Electric Company's Power Systems Division
and Corporate Research & Development Center from 1995 to
2001; and prior to 1995, various positions of increasing
responsibility at Rockwell International Corporation and Howmet
Corporation. Dr. Graves has served as a director of Hexcel
Corporation and Teleflex Incorporated since 2007.
About Yuval Wasserman
Yuval Wasserman has served as President and Chief Executive Officer and a
director of Advanced Energy Industries, Inc., a leading
manufacturer of power conversion products that transform electrical
power into various usable forms, since October 2014. Mr. Wasserman previously served as
President of Advanced Energy
Industries' Thin Films Business Unit from August 2011 to October
2014 and Executive Vice President and Chief Operating
Officer from April 2009 to August
2011. He previously held roles at Advanced Energy Industries
of Executive Vice President, Sales, Marketing and Service from
October 2007 to April 2009, and Senior Vice President, Sales,
Marketing and Service from August
2007 to October 2007. Prior to joining Advanced Energy
Industries, Mr. Wasserman served as the President, and later as Chief Executive
Officer, of Tevet Process Controls Technologies, Inc., a
semiconductor metrology company, from May
2002 to July 2007. Prior to that, he held senior
executive and general management positions at Boxer Cross, a
metrology company acquired by Applied Materials, Inc., Fusion
Systems, a plasma strip company that is a division of Axcelis
Technologies, Inc., and AG Associates, a semiconductor capital
equipment company focused on rapid thermal processing. Mr.
Wasserman started his career at National Semiconductor, Inc., where
he held various engineering and management positions. Mr.
Wasserman served as a director of Syncroness, Inc., an outsourced
engineering and product development company, from 2010 to
2017. Mr. Wasserman is a National Association of Corporate
Directors (NACD) Governance Fellow.
About FARO
FARO is the world's most trusted source for 3D measurement,
imaging and realization technology. The Company develops and
markets computer-aided measurement and imaging devices and software
for the following vertical markets:
- Factory Metrology - High-precision 3D measurement, imaging and
comparison of parts and complex structures within production and
quality assurance processes
- Construction BIM-CIM - 3D capture of as-built construction
projects and factories to document complex structures and perform
quality control, planning and preservation
- Public Safety Forensics - Capture and analysis of on-site real
world data to investigate crash, crime and fire, plan security
activities and provide virtual reality training for public safety
personnel
- Product Design - Capture detailed and precise 3D data from
existing products permitting CAD analysis and redesign, after
market design and legacy part replication
- 3D Machine Vision - 3D vision for both control and measurement
to the manufacturing floor through 3D sensors and custom
solutions
FARO's global headquarters is located in Lake Mary, Florida. The Company also has
a technology center and manufacturing facility consisting of
approximately 90,400 square feet located in Exton, Pennsylvania containing research and
development, manufacturing and service operations of our FARO Laser
TrackerTM and FARO Cobalt Array Imager product
lines. The Company's European regional headquarters is
located in Stuttgart, Germany and
its Asia-Pacific regional
headquarters is located in Singapore. FARO has other offices in
the United States, Canada, Mexico, Brazil, Germany, the United
Kingdom, France,
Spain, Italy, Poland, Turkey, the
Netherlands, Switzerland,
India, China, Malaysia, Thailand, South
Korea, Japan, and
Australia.
This press release contains forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995 that are subject to risks and uncertainties, such as
statements about FARO's growth strategy. Statements that are not
historical facts or that describe the Company's plans, objectives,
projections, expectations, assumptions, strategies, or goals are
forward-looking statements. In addition, words such as "is," "will"
and similar expressions or discussions of FARO's plans or other
intentions identify forward-looking statements. Forward-looking
statements are not guarantees of future performance and are subject
to various known and unknown risks, uncertainties, and other
factors that may cause actual results, performances, or
achievements to differ materially from future results,
performances, or achievements expressed or implied by such
forward-looking statements. Consequently, undue reliance should not
be placed on these forward-looking statements.
Factors that could cause actual results to differ materially
from what is expressed or forecasted in such forward-looking
statements include, but are not limited to:
- development by others of new or improved products, processes
or technologies that make the Company's products less competitive
or obsolete;
- the Company's inability to maintain its technological
advantage by developing new products and enhancing its existing
products;
- declines or other adverse changes, or lack of improvement,
in industries that the Company serves or the domestic and
international economies in the regions of the world where the
Company operates and other general economic, business, and
financial conditions; and
- other risks detailed in Part I, Item 1A. Risk Factors in the
Company's Annual Report on Form 10-K for the year ended
December 31, 2016 and Form 10-Q for
the quarters ended March 31, 2017 and
June 30, 2017.
Forward-looking statements in this release represent the
Company's judgment as of the date of this release. The Company
undertakes no obligation to update publicly any forward-looking
statements, whether as a result of new information, future events,
or otherwise, unless otherwise required by law.
More information is available at http://www.faro.com
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SOURCE FARO