HOD HASHARON, Israel, Dec. 11,
2023 /PRNewswire/ -- Valens Semiconductor - (NYSE:
VLN), a premier provider of high-performance connectivity solutions
for the audio-video and automotive markets, today announced that
after completing an executive search, it has appointed Guy
Nathanzon as the Company's new Chief Financial Officer effective
March 10, 2024.
"We are delighted to welcome Guy Nathanzon as our new Chief
Financial Officer," said Gideon Ben
Zvi, Chief Executive Officer of Valens Semiconductor. "Guy
brings more than twenty years of executive experience in finance
and operations for leading companies across several industries –
including semiconductor, medical imaging, and industrial. I am
confident that Guy will play a key role in executing our long-term
growth plans to further penetrate the multi-billion dollar
automotive and audio-video markets."
"We are well-positioned to expand our opportunity set with
game-changing high-performance connectivity products in both the
automotive industry and several audio-video verticals, including
videoconferencing, education, industrial, and medical. We see
significant potential ahead and working with a strategically
oriented chief financial officer will help reach our goal to create
sustainable value for all our stakeholders."
Ben Zvi added, "I want to thank
Yael Rozenberg Haine for her
dedication and professionalism as Interim Chief Financial Officer.
Yael stepped in seamlessly and will remain in the current role
until Guy joins. Following that, she will resume her position of
Vice President of Finance and continue to lead all aspects of our
financial, planning and reporting functions."
Guy Nathanzon will join Valens Semiconductor with vast
experience across a variety of technology companies, including
nearly 15 years in the semiconductor industry and over ten years in
medical imaging and industrial aviation technology companies.
Nathanzon is currently the Chief Financial Officer of Scopio Labs,
a medical imaging and deep learning AI company, a position he has
held since 2020. Previously, he was CFO of TAT Technologies, a
strategic global partner of leading players in the aerospace
industry. His extensive semiconductor experience included serving
as CFO of Altair Semiconductor, acquired by SONY in 2015, and as
CFO of Provigent Inc., which was acquired by Broadcom in 2011.
"I am honored to be joining Valens Semiconductor in these
exciting times," said Guy Nathanzon. "Its industry-leading
audio-video and expanded connectivity solutions portfolio, its
robust cash position, and the opportunity to increase its share in
the multi-billion-dollar automotive market, uniquely position the
company for meaningful growth with a long runway. I am eager to
join hands with Valens' incredible team and continue the journey to
unlock the full potential of its leading-edge technology and strong
market reputation for innovating mission-critical connectivity
solutions."
Forward Looking Statements
This press release includes "forward-looking statements" within
the meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"estimate," "plan," "project," "forecast," "intend," "will,"
"expect," "anticipate," "believe," "seek," "target" or other
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
forward-looking statements include, but are not limited to,
statements regarding our anticipated future results, including
financial results, currency exchange rates, and contract wins, and
future economic and market conditions. These statements are based
on various assumptions, whether or not identified in this press
release, and on the current expectations of Valens Semiconductor's
("Valens") management and are not predictions of actual
performance. These forward-looking statements are provided for
illustrative purposes only and are not intended to serve as, and
must not be relied on by any investor as, a guarantee, an
assurance, a prediction or a definitive statement of fact or
probability. Actual events and circumstances are difficult or
impossible to predict and will differ from assumptions. Many actual
events and circumstances are beyond the control of Valens
Semiconductor.
These forward-looking statements are subject to a number of
risks and uncertainties, including the cyclicality of the
semiconductor industry; the effects of health epidemics, such as
the recent global COVID-19 pandemic; the impact of the global
pandemic caused by COVID-19 on our customers' budgets and on
economic conditions generally, as well as the length, severity of
and pace of recovery following the pandemic; competition in the
semiconductor industry, and the failure to introduce new
technologies and products in a timely manner to compete
successfully against competitors; if Valens fails to adjust its
supply chain volume due to changing market conditions or fails to
estimate its customers' demand; disruptions in relationships with
any one of Valens' key customers; any difficulty selling Valens'
products if customers do not design its products into their product
offerings; Valens' dependence on winning selection processes; even
if Valens succeeds in winning selection processes for its products,
Valens may not generate timely or sufficient net sales or margins
from those wins; sustained yield problems or other delays in the
manufacturing process of products; our ability to effectively
manage, invest in, grow, and retain our sales force, research and
development capabilities, marketing team and other key personnel;
our ability to timely adjust product prices to customers following
price increase by the supply chain; our ability to adjust our
inventory level due to sudden reduction in demand due to inventory
buffers accrued by customers; our expectations regarding the
outcome of any future litigation in which we are named as a party;
our ability to adequately protect and defend our intellectual
property and other proprietary rights; the market price and trading
volume of the Valens ordinary shares may be volatile and could
decline significantly; political, economic, governmental and tax
consequences associated with our incorporation and location in
Israel; and those factors
discussed in Valens' Form 20-F filed with the SEC on March 2, 2022 under the heading "Risk Factors,"
and other documents of Valens filed, or to be filed, with the
SEC. If any of these risks materialize or our assumptions prove
incorrect, actual results could differ materially from the results
implied by these forward-looking statements. There may be
additional risks that Valens does not presently know or that Valens
currently believes are immaterial that could also cause actual
results to differ from those contained in the forward-looking
statements. In addition, forward-looking statements reflect Valens'
expectations, plans or forecasts of future events and views as of
the date of this press release. Valens anticipates that subsequent
events and developments may cause Valens' assessments to change.
However, while Valens may elect to update these forward-looking
statements at some point in the future, Valens specifically
disclaims any obligation to do so. These forward-looking statements
should not be relied upon as representing Valens' assessment as of
any date subsequent to the date of this press release. Accordingly,
undue reliance should not be placed upon the forward-looking
statements.
About Valens Semiconductor
Valens Semiconductor pushes the boundaries of connectivity by
enabling long-reach, high-performance video and data transmission
for the Audio-Video and Automotive industries. Valens' HDBaseT®
technology is the leading standard in the Audio-Video market with
tens of millions of Valens' chipsets integrated into thousands of
products in a wide range of applications. Valens' Automotive
chipsets are deployed in systems manufactured by leading customers
and are on the road in vehicles around the world. Valens is a key
enabler of the evolution of ADAS and autonomous driving and its
advanced technology is the basis for the new industry standard for
high-speed in-vehicle connectivity. For more information, visit
https://www.valens.com/.
Investor Contacts:
Daphna Golden
Vice President Investor Relations
Valens Semiconductor Ltd.
investors@valens.com
Moira Conlon
Financial Profiles, Inc.
Valens@finprofiles.com
Media Contact:
Yoni Dayan
Head of Communications
Valens Semiconductor Ltd.
yoni.dayan@valens.com
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SOURCE Valens Semiconductor