The ExOne Company Announces Executive Leadership Changes
July 13 2018 - 6:30AM
Business Wire
- Brian W. Smith elected Senior Vice
President
- Douglas D. Zemba elected Chief
Financial Officer and Treasurer
The ExOne Company (NASDAQ:XONE) (“ExOne” or “the Company”), a
global provider of three-dimensional (“3D”) printing machines and
3D printed and other products, materials and services to industrial
customers, announced that it has elected Brian W. Smith as Senior
Vice President and Douglas D. Zemba as Chief Financial Officer and
Treasurer.
S. Kent Rockwell, ExOne’s Chairman and Chief Executive Officer,
stated, “Given the breadth of Brian’s leadership experience, as
well as the knowledge he gained of ExOne and our industry from
being our CFO and Treasurer for the past four years, we are pleased
to promote him to Senior Vice President. In his new Corporate
Development role, Brian will provide vital input into strategic
decisions to grow and restructure our business. A critical
near-term responsibility is for him to lead our resource allocation
initiative in accordance with the global cost realignment program
that we recently announced. This restructuring and cost reduction
initiative is currently underway.”
He added, “Doug has demonstrated his financial acumen within our
organization in his capacity as Chief Accounting Officer and
Assistant Treasurer for over five years. Brian and Doug are proven
contributors to our leadership team and I look forward to
continuing to work with both of them in their new roles.”
Mr. Zemba served as ExOne’s Chief Accounting Officer and
Assistant Treasurer since March 2013, with responsibility for the
Company’s global accounting and financial reporting. He joined
ExOne in January 2013 as Director of Finance, shortly before the
Company’s initial public offering in February 2013. Previously, Mr.
Zemba was a Senior Manager in the Assurance practice of
PricewaterhouseCoopers LLP.
About ExOne
ExOne is a global provider of 3D printing machines and 3D
printed and other products, materials and services to industrial
customers. ExOne's business primarily consists of manufacturing and
selling 3D printing machines and printing products to specification
for its customers using its installed base of 3D printing machines.
ExOne’s machines serve direct and indirect applications. Direct
printing produces a component; indirect printing makes a tool to
produce a component. ExOne offers pre-production collaboration and
print products for customers through its network of ExOne Adoption
Centers (EACs) and Production Service Centers (PSCs). ExOne also
supplies the associated materials, including consumables and
replacement parts, and other services, including training and
technical support that is necessary for purchasers of its 3D
printing machines to print products. The Company believes that its
ability to print in a variety of industrial materials, as well as
its industry-leading volumetric output (as measured by build box
size and printing speed) uniquely position ExOne to serve the needs
of industrial customers.
Safe Harbor Regarding Forward Looking Statements
This news release may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act with
respect to the Company’s future financial or business performance,
strategies, or expectations. Forward-looking statements typically
are identified by words or phrases such as “trend,” “potential,”
“opportunity,” “pipeline,” “believe,” “comfortable,” “expect,”
“anticipate,” “current,” “intention,” “estimate,” “position,”
“assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,”
“seek,” “achieve,” as well as similar expressions, or future or
conditional verbs such as “will,” “would,” “should,” “could” and
“may.”
The Company cautions that forward-looking statements are subject
to numerous assumptions, risks and uncertainties, which change over
time. Forward-looking statements speak only as of the date they are
made and the Company assumes no duty to and does not undertake to
update forward-looking statements. Actual results could differ
materially from those anticipated in forward-looking statements and
future results could differ materially from historical
performance.
In addition to risk factors previously disclosed in the
Company’s reports and those identified elsewhere in its Annual
Report on Form 10-K, the following factors, among others, could
cause results to differ materially from forward-looking statements
or historical performance: the Company’s ability to generate
operating profits; the results of the global cost realignment
initiative, fluctuations in the Company’s revenues and operating
results; the Company’s competitive environment and its competitive
position; ExOne’s ability to enhance its current three-dimensional
(“3D”) printing machines and technology and develop new 3D printing
machines; the Company’s ability to qualify more industrial
materials in which it can print; demand for ExOne’s products; the
availability of skilled personnel; the impact of loss of key
management; the impact of market conditions and other factors on
the carrying value of long-lived assets; the Company’s ability to
continue as a going concern; the impact of customer specific terms
in machine sale agreements on the period in which the Company
recognizes revenue; risks related to global operations including
effects of foreign currency; the adequacy of sources of liquidity;
the scope, sufficiency of funds for required capital expenditures,
working capital, and debt service; dependency on certain critical
suppliers; nature or impact of alliances and strategic investments;
reliance on critical information technology systems; the effect of
litigation, contingencies and warranty claims; liabilities under
laws and regulations protecting the environment; the impact of
governmental laws and regulations; operating hazards, war,
terrorism and cancellation or unavailability of insurance coverage;
the impact of disruption of the Company’s manufacturing facilities,
production service centers (“PSCs”) or ExOne Adoption Centers
(“EACs”); the adequacy of ExOne’s protection of its intellectual
property; and expectations regarding demand for the Company’s
industrial products, operating revenues, operating and maintenance
expenses, insurance expenses and deductibles, interest expenses,
debt levels, and other matters with regard to outlook.
These and other important factors, including those discussed in
the Company’s Annual Report on Form 10-K, may cause the Company’s
actual results of operations to differ materially from any future
results of operations expressed or implied by the forward-looking
statements contained therein. Before making a decision to purchase
ExOne common stock, you should carefully consider all of the
factors identified in its Annual Report on Form 10-K that could
cause actual results to differ from these forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20180713005034/en/
For more information:The ExOne CompanyBrian Smith,
724-765-1350Senior Vice Presidentbrian.smith@exone.comorKei
Advisors LLCDeborah K. Pawlowski / Karen L. Howard716-843-3908 /
716-843-3942dpawlowski@keiadvisors.com /
khoward@keiadvisors.com
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