LAKE MARY, Fla., April 9, 2019 /PRNewswire/
-- FARO® (NASDAQ: FARO), the world's most trusted
source for 3D measurement and imaging solutions for
3D manufacturing, construction
BIM, 3D design, public safety forensics, and
photonics applications, today announced that Michael D. Burger has been appointed President
and Chief Executive Officer of the Company, effective June 17, 2019. Mr. Burger succeeds Dr.
Simon Raab, who previously announced
his intent to retire as the Company's President and Chief Executive
Officer and as a member of the Company's Board of Directors upon
the appointment of his successor. Dr. Raab will retire from his
positions with the Company on June 16,
2019.
Mr. Burger brings to FARO over 20 years of experience as a
global executive in the industrial technology sector. Mr.
Burger most recently served as President and Chief Executive
Officer and as a member of the board of directors of Electro
Scientific Industries, Inc., a leading supplier of innovative
laser-based microfabrication solutions for industries reliant on
microtechnologies, from October 2016
to February 2019, when it was
acquired by MKS Instruments, Inc. Prior to joining Electro
Scientific Industries, Inc., Mr. Burger was President and Chief
Executive Officer and a member of the board of directors of Cascade
Microtech, Inc., a manufacturer of advanced wafer probing, thermal
and reliability solutions for the electrical measurement and
testing of high performance semiconductor devices. Mr. Burger holds
a B.S. degree in Electrical Engineering from New Mexico State University and a certificate from
the Stanford University International
Executive Management Program. Throughout his career,
Mr. Burger has driven significant growth for the businesses he
has led with scaling growth strategies, while preserving core
values that are critical to the long-term sustainability of a
business.
"Michael is a dynamic leader with significant experience in
areas important to FARO's future, including strategic growth
initiatives, technical R&D leadership and diverse sales and
distribution channels," stated John
Donofrio, Chairman of FARO's Board of Directors. "Michael is
a seasoned executive with extensive experience successfully
transforming industrial technology companies. His proven
strategic, financial and operational capabilities, combined with
his strong commitment to growth, will position FARO for long-term
success. The Board looks forward to working closely with
Michael as we enter an exciting new chapter for FARO."
Mr. Burger added, "I am honored and excited to lead FARO, which
has an established reputation for technology innovation and
compelling opportunities for strategic growth. Over the past
few years, FARO has transformed into a vertically-aligned sales
organization driven by accelerated product introductions. Our
next chapter will leverage our entrepreneurial background and
commitment to seeking new pathways for market disruption as we
search for ways to drive growth and strategic differentiation in
our vertical markets."
Regarding Dr. Raab's retirement, Mr. Donofrio stated, "We are
deeply grateful for Simon's leadership of the Board and FARO over
many decades of valued service and the many accomplishments during
his long career at the company he co-founded. He is a
visionary leader who led FARO to new heights and leaves the Company
with an impressive legacy, a healthy balance sheet, and a strong
foundation for future growth."
About FARO
FARO is the world's most trusted source for 3D measurement,
imaging and realization technology. The Company develops and
markets computer-aided measurement and imaging devices and software
for the following vertical markets:
- 3D Manufacturing - High-precision 3D measurement, imaging and
comparison of parts and complex structures within production and
quality assurance processes
- Construction BIM - 3D capture of as-built construction projects
and factories to document complex structures and perform quality
control, planning and preservation
- Public Safety Forensics - Capture and analysis of on-site real
world data to investigate crash, crime and fire events, plan
security activities and provide virtual reality training for public
safety personnel
- 3D Design - Capture and edit 3D shapes of products, people
and/or environments for design purposes in product development,
computer graphics and dental and medical applications
- Photonics - Develop and market galvanometer-based laser
measurement products and solutions
FARO's global headquarters is located in Lake Mary, Florida. The Company's
European regional headquarters is located in Stuttgart, Germany and its Asia-Pacific regional headquarters is located
in Singapore. FARO has other
offices in the United States,
Canada, Mexico, Brazil, Germany, the United
Kingdom, France,
Spain, Italy, Poland, Turkey, the
Netherlands, Switzerland,
India, China, Malaysia, Thailand, South
Korea, Japan, and
Australia.
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 long-term success, future growth and
strategic differentiation in its vertical markets. 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
"is," "will" and similar expressions or discussions of FARO'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 Company's ability to successfully complete this Chief
Executive Officer transition or the loss of other key
personnel;
- development by others of new or improved products, processes
or technologies that make the Company's products less competitive
or obsolete;
- the Company's inability to maintain its technological
advantage by developing new products and enhancing its existing
products;
- declines or other adverse changes, or lack of improvement,
in industries that the Company serves or the domestic and
international economies in the regions of the world where the
Company operates and other general economic, business, and
financial conditions; and
- other risks detailed in Part I, Item 1A. Risk Factors in the
Company's Annual Report on Form 10-K for the year ended
December 31, 2018.
Forward-looking statements in this release represent the
Company's judgment as of the date of this release. 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.
More information is available at http://www.faro.com
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SOURCE FARO Technologies, Inc.