BEDFORD,
Mass., Aug. 12, 2024 /PRNewswire/ -- iRobot Corp.
(NASDAQ: IRBT), a leader in consumer robots, announced the addition
of Michael J. Loparco to its board
of directors. Mr. Loparco brings to the board extensive public
company and global technology leadership experience in areas
including consumer product and smart home innovation,
manufacturing, global supply chain, mergers and acquisitions,
design, enterprise IT, retail and robotics.
Mr. Loparco is a seasoned CEO and consumer-focused leader with
more than 25 years experience building and growing highly technical
and cross-border manufacturing businesses. Most recently, he served
as CEO of Symbotic, an AI and software-enabled warehouse robotics
and automation company where he led the company's successful IPO.
Prior to Symbotic, Mr. Loparco spent more than two decades at Jabil
Inc., where he rose through the ranks to become CEO of the
Electronics Manufacturing Services (EMS) segment in 2020 with
responsibility for more than $22
billion in global operations. Prior to that, he served as
CEO of the Engineered Solutions division beginning in 2014. In
these roles, Mr. Loparco ultimately led enterprise supply chain and
operations across 25 countries with a workforce of more than 80,000
employees. During his tenure at Jabil, he was responsible for
driving growth, innovation, digital transformation, operational
efficiencies, establishing technology roadmaps, transforming
complex supply chains and working with sophisticated OEM/JDM
partners in a diverse array of end markets including robotics,
smart home appliances and broader consumer electronics. He is also
very familiar with iRobot's product portfolio having worked closely
with the company during his time at Jabil. Additionally, Mr.
Loparco currently serves on the boards of directors at E2IP
Technologies and Illumus, is strategic advisor to the
Israeli-Canadian based Awz Ventures, and has additional public and private company board experience.
He holds a JD with honors from Stetson
University College of Law and BA, International Business,
from Eckerd College.
"We welcome Michael to iRobot's board of directors and are are
enthusiastic about working with him and the company's leadership
team moving forward," said Andrew
Miller, chairman of the board at iRobot. "Michael's
established track record of business leadership, his familiarity of
iRobot's product and unique combination of manufacturing, supply
chain and IT experience will be tremendous assets to the company as
it continues to make progress on its transformation and strategic
initiatives."
"Having worked with iRobot while at Jabil and knowing the
consumer benefits its products provide, I am honored to begin
contributing to the company as it charts a new path forward," said
Michael Loparco. "I believe my past
experiences will be valuable to iRobot's continued success and am
excited to work with the board and leadership team to address and
capitalize on the many opportunities that lie ahead."
About iRobot Corporation
iRobot is a global consumer robot company that designs and builds
thoughtful robots and intelligent home innovations that make life
better. iRobot introduced the first Roomba robot vacuum in 2002.
Today, iRobot is a global enterprise that has sold more than 50
million robots worldwide. iRobot's product portfolio features
technologies and advanced concepts in cleaning, mapping and
navigation. Working from this portfolio, iRobot engineers are
building robots and smart home devices to help consumers make their
homes easier to maintain and healthier places to live. For more
information about iRobot, please visit www.irobot.com.
For iRobot Investors
This press release contains "forward-looking statements" within the
meaning of the federal securities laws, including Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements
regarding the Company's implementation of its operational
restructuring plan and related restructuring charges (including the
timing thereof), the Company's business plans, strategies,
priorities and initiatives and the expected business and financial
impacts thereof (including anticipated cost savings), expected
product launches and the impact thereof, and anticipated business
enhancements and expected benefits to the Company's products and
business therefrom. These forward-looking statements are based on
the Company's current expectations, estimates and projections about
its business and industry, all of which are subject to change. In
this context, forward-looking statements often address expected
future business and financial performance and financial condition,
and often contain words such as "expect," "anticipate," "intend,"
"plan," "believe," "could," "seek," "see," "will," "may," "would,"
"might," "potentially," "estimate," "continue," "expect," "target,"
similar expressions or the negatives of these words or other
comparable terminology that convey uncertainty of future events or
outcomes. All forward-looking statements by their nature address
matters that involve risks and uncertainties, many of which are
beyond our control, and are not guarantees of future results. These
and other forward-looking statements are not guarantees of future
results and are subject to risks, uncertainties and assumptions
that could cause actual results to differ materially from those
expressed in any forward-looking statements. Accordingly, there are
or will be important factors that could cause actual results to
differ materially from those indicated in such statements and,
therefore, you should not place undue reliance on any such
statements and caution must be exercised in relying on
forward-looking statements. Important risk factors that may cause
such a difference include, but are not limited to: the Company's
ability to implement its business plans and strategies; the
Company's ability to achieve the anticipated benefits of its
operational restructuring plan; the Company's ability to
successfully navigate its leadership transition; the ability of the
Company to retain and hire key personnel; legislative, regulatory
and economic developments affecting the Company's business; general
economic and market developments and conditions; the impact of
various global conflicts on the Company's business and general
economic conditions; the evolving legal, regulatory and tax regimes
under which the Company operates; unpredictability and severity of
catastrophic events, including, but not limited to, acts of
terrorism or outbreak of war or hostilities; supply chain
challenges including constraints in the availability of certain
semiconductor components used in the Company's products; the
financial strength of the Company's customers and retailers; the
impact of tariffs on goods imported into the United States; and competition. Additional
risks and uncertainties that could cause actual outcomes and
results to differ materially from those contemplated by the
forward-looking statements are included under the caption "Risk
Factors" in the Company's most recent annual and quarterly reports
filed with the SEC and any subsequent reports on Form 10-K, Form
10-Q or Form 8-K filed from time to time and available at
www.sec.gov. The forward-looking statements included herein are
made only as of the date hereof. The Company does not assume any
obligation to publicly provide revisions or updates to any
forward-looking statements, whether as a result of new information,
future developments or otherwise, should circumstances change,
except as otherwise required by securities and other applicable
laws.
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SOURCE iRobot Corporation