Perceptron® Announces Appointment of David Watza as President and Chief Executive Officer
November 17 2016 - 4:10PM
Perceptron, Inc. (NASDAQ:PRCP) today announced
that the Board of Directors of the Company appointed David Watza to
serve as President and Chief Executive Officer of the Company,
effective immediately.
Mr. Watza will succeed W. Richard Marz, who was appointed as
interim President and Chief Executive Officer of Perceptron in
January 2016. Mr. Marz will continue in his role as Chairman of the
Board of Perceptron.
Mr. Watza, 50, has been Senior Vice President and Chief
Financial Officer of Perceptron since October 2015, a position he
will continue to hold. Prior to joining Perceptron, Mr. Watza
served as Vice President of Corporate Development of TriMas
Corporation, with responsibility for acquisitions, divestitures,
and Treasury operations. Mr. Watza joined TriMas in 2005, holding
positions of increasing responsibility and professional growth
including Vice President Finance, Business Planning &
Analytics, responsible for strategic planning, annual operating
planning and forecasting, and corporate information technology;
division Finance Officer for TriMas Australia Holdings Ltd.; and
division Finance Officer for Cequent Performance Products. Mr.
Watza possesses more than 25 years of finance experience in
engineered products and manufacturing businesses with
responsibilities in accounting, finance and information technology.
He earned his Bachelor of Business Administration at the University
of Michigan.
“The Board of Directors is very pleased to announce the
appointment of Dave as President and CEO of Perceptron,” said W.
Richard Marz, Chairman of the Board. “We feel fortunate that we had
an individual of Dave’s caliber within our existing team to assume
the top leadership role during this critical period for the
Company.”
Mr. Marz continued, “On a personal note, having had the
opportunity to work closely with Dave during the past ten months in
designing and implementing the Company’s financial improvement
plan, I have the greatest of confidence in Dave’s abilities to lead
Perceptron into the future.”
Mr. Watza said, “I am honored to have the opportunity to serve
as President and CEO of Perceptron and greatly appreciate the
confidence the Board has placed in me to lead the Company. With our
financial improvement plan firmly in place, and the momentum we saw
in bookings and backlog in the first quarter, I am excited by our
opportunities for growth and a return to profitability. I want to
thank Rick Marz for the many months he has spent in Plymouth,
Michigan, away from his family since assuming his role as interim
President and CEO. His leadership, ideas and direction have been
invaluable in the Company’s efforts to implement its financial
improvement plan. I look forward to Rick’s continued support
as Chairman in the coming months.”
About PerceptronPerceptron (NASDAQ:PRCP)
develops, produces and sells a comprehensive range of automated
industrial metrology products and solutions to manufacturing
organizations for dimensional gauging, dimensional inspection and
3D scanning. Products include 3D machine vision solutions, robot
guidance, coordinate measuring machines, laser scanning and
advanced analysis software. Global automotive, aerospace and other
manufacturing companies rely on Perceptron’s metrology solutions to
assist in managing their complex manufacturing processes to improve
quality, shorten product launch times and reduce costs.
Headquartered in Plymouth, Michigan, USA, Perceptron has
subsidiary operations in Brazil, China, Czech Republic, France,
Germany, India, Italy, Japan, Singapore, Slovakia, Spain and the
United Kingdom.
For more information, please visit www.perceptron.com.
Safe Harbor StatementCertain statements in this
press release may be "forward-looking statements" within the
meaning of the Securities Exchange Act of 1934, including the
Company's expectation relating to the ability to successfully
develop and introduce new products and expand into new customers
and markets. When we use words such as "will," "should,"
"believes," "expects," "anticipates," "estimates," "prospects" or
similar expressions, we are making forward-looking statements. We
claim the protection of the safe harbor for forward-looking
statements contained in the Private Securities Litigation Reform
Act of 1995 for all of our forward-looking statements. While we
believe that our forward- looking statements are reasonable, you
should not place undue reliance on any such forward-looking
statements, which speak only as of the date made. Because these
forward-looking statements are based on estimates and assumptions
that are subject to significant business, economic and competitive
uncertainties, many of which are beyond our control or are subject
to change, actual results could be materially different. Factors
that might cause such a difference include, without limitation, the
Company's projected revenues and net income depends upon the
Company's ability to successfully develop and introduce new
products. Except as required by applicable law, we do not
undertake, and expressly disclaim, any obligation to publicly
update or alter our statements whether as a result of new
information, events or circumstances occurring after the date of
this report or otherwise.
Contact:
Bob Burton
Lambert, Edwards & Associates
investors@perceptron.com
616-233-0500
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