- Peter Lau to join effective
July 24th, 2023
- Yuval Wasserman to continue as Executive Chairman
LAKE
MARY, Fla., June 29,
2023 /PRNewswire/ -- FARO® (Nasdaq: FARO), a global
leader of 3D measurement, imaging and realization solutions for the
3D Metrology, AEC (Architecture, Engineering & Construction),
and Public Safety Analytics markets, today announced the
appointment of Peter Lau as
President and Chief Executive Officer and as a member of the
Company's Board of Directors, effective July
24th, 2023.
As of Mr. Lau's start date, Mr. Wasserman will no longer be
the Company's Interim Chief Executive Officer but will continue as
the Company's Executive Chairman.
"Peter is a well-rounded global business leader with a strong
best in class foundation and a demonstrated track record of
improving business performance across diverse industrial
businesses," stated Yuval Wasserman,
Executive Chairman of FARO's Board of Directors. "We believe these
strengths, combined with Peter's demonstrated track record of
integrating software solutions into complex hardware-oriented
businesses at Honeywell will accelerate FARO's strategic roadmap
execution."
Mr. Lau added, "Stepping into the role of President and CEO at
FARO is both an honor and an opportunity. FARO has established
itself as a global leader in digital reality capture solutions and
our mission moving forward is to solidify our position with the
convergence of hardware, software, and immersive technologies. By
harnessing the power of digital reality solutions, our goal is to
enable customers to realize greater operating efficiencies by
seamlessly blending the physical and virtual worlds."
Peter Lau recently served as
Chief Executive Officer and a board member of Catalyst
Nutraceuticals. Previously, Mr. Lau held several senior executive
positions including President and CEO of divisions within Hubbell,
Honeywell and General Electric. Mr. Lau holds a B.S. degree in
Business Administration from Northeastern
University.
About FARO
For 40 years, FARO has provided
industry-leading technology solutions that enable customers to
measure their world, and then use that data to make smarter
decisions faster. FARO continues to be a pioneer in bridging the
digital and physical worlds through data-driven reliable accuracy,
precision, and immediacy. For more information, visit
www.faro.com.
Forward-Looking Statements
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 the Company's expectations regarding its timing, plans and
agreements with certain of its executive officers. 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
"will," "expect" and "shall" or words of similar meaning or
discussions of the Company'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 the nature, terms and timing of the
commencement of employment of the Company's new President &
Chief Executive Officer, and any unexpected developments in the
transition. Forward-looking statements in this Press Release
represent the Company's judgment as of the date hereof. 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.
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SOURCE FARO