Matthijs Glastra Appointed Chairman of the Board of Directors of Novanta Inc.
March 23 2021 - 4:15PM
Business Wire
Long-time Chairman Stephen W. Bershad to
Retire
Novanta Inc. (Nasdaq: NOVT) (the “Company”), a trusted
technology partner to medical and advanced technology equipment
manufacturers, announced today that its Board of Directors has
appointed Matthijs Glastra, currently Chief Executive Office, to
the additional role of Chairman of the Board, effective after the
Company’s Annual Meeting of Shareholders on May 13, 2021. Mr.
Glastra will succeed Stephen W. Bershad, who after a highly
successful eleven year tenure, will retire from the Board and will
not stand for re-election at Novanta’s Annual Meeting.
In addition, Novanta also announced that the independent
directors have appointed current Board member Lonny Carpenter as
independent Lead Director, also effective after the Annual Meeting.
The Lead Director presides over all meetings of the Board at which
the Chairman is not present, including executive sessions of the
independent directors, calls meetings of the independent directors
and serves as liaison between the Chairman and the independent
directors. Mr. Carpenter joined the Novanta Board of Directors in
May 2018 after a successful 30-year career at Stryker Corporation,
most recently serving as Group President, Global Quality and
Business Operations.
In recognition of Mr. Bershad’s extensive contributions to the
Company, the Board of Directors has appointed him Chairman
Emeritus, effective upon his retirement from the Board. While this
position is honorary, without voting rights, and no special
governance rights, Mr. Bershad will be available for consultation
to the Board.
“Steve Bershad is the reason Novanta exists today. After
acquiring a stake in the Company in 2009, Steve successfully
recapitalized and restructured the Company, giving us the platform
to create a world leading and flourishing enterprise,” said
Matthijs Glastra. “We are extremely grateful for his guidance,
leadership and dedicated service over the last eleven years. His
contributions to the Company will have a lasting impact. One of
Steve’s most important contributions to Novanta is building a
strong and diverse Board of Directors and leadership team that
ensures continuity of our mission.”
“This timing is consistent with my goal of providing a five year
overlap with CEO Matthijs Glastra,” said Mr. Bershad. “The Company
has done very well under Matthijs’ leadership as CEO since
September 2016, and is now well positioned, both strategically and
financially, for sustained growth in spite of the challenges of the
COVID-19 pandemic. We are also extremely fortunate to have a group
of strong board members, many of whom have served the Company for a
number of years as well as some new members who have recently
joined the Board with very strong, diverse and relevant backgrounds
and expertise. This gives me great confidence that the Company is
in good hands.”
About Novanta
Novanta is a leading global supplier of core technology
solutions that give medical and advanced industrial original
equipment manufacturers (“OEMs”) a competitive advantage. We
combine deep proprietary technology expertise and competencies in
photonics, vision and precision motion with a proven ability to
solve complex technical challenges. This enables Novanta to
engineer core components and sub-systems that deliver extreme
precision and performance, tailored to our customers’ demanding
applications. The driving force behind our growth is the team of
innovative professionals who share a commitment to innovation and
customer success. Novanta’s common shares are quoted on Nasdaq
under the ticker symbol “NOVT”.
More information about Novanta is available on the Company’s
website at www.novanta.com. For additional information, please
contact Novanta Inc. Investor Relations at (781) 266-5137 or
InvestorRelations@novanta.com.
Safe Harbor and Forward-Looking Information
Certain statements in this release are “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995 and are based on current expectations and
assumptions that are subject to risks and uncertainties. These
forward-looking statements include, but are not limited to,
statements regarding the Company being well positioned, both
strategically and financially, for sustained growth, continuity of
the Company’s mission and other statements that are not historical
facts.
These forward-looking statements are neither promises nor
guarantees, but involve risks and uncertainties that may cause
actual results to differ materially from those contained in the
forward-looking statements. Our actual results could differ
materially from those anticipated in these forward-looking
statements for many reasons, including, but not limited to, the
following: economic and political conditions and the effects of
these conditions on the Company’s customers’ businesses and level
of business activities; risks associated with the COVID-19 pandemic
and other events outside its control; the Company’s significant
dependence upon its customers’ capital expenditures, which are
subject to cyclical market fluctuations; the Company’s dependence
upon its ability to respond to fluctuations in product demand; and
the Company’s ability to continually innovate and successfully
commercialize its innovations. Other important risk factors that
could affect the outcome of the events set forth in these
statements and that could affect the Company’s operating results
and financial condition are discussed in Item 1A of our Annual
Report on Form 10-K for the fiscal year ended December 31, 2020, as
updated by our future filings with the Securities and Exchange
Commission (“SEC”). Such statements are based on the Company’s
beliefs and assumptions and on information currently available to
the Company. The Company disclaims any obligation to publicly
update or revise any such forward-looking statements as a result of
developments occurring after the date of this document except as
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210323005896/en/
Novanta Inc. Investor Relations Contact: Ray Nash (781)
266-5137
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