Brings 35 Years of Technology, Operations and
Business Development Expertise at Nikon
Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today announced that
Hamid Zarringhalam, Corporate Vice President of Nikon Corporation,
who has served as an observer of Velodyne Lidar’s Board of
Directors since September 2018, has been appointed to the Velodyne
Lidar Board, effective immediately.
Mr. Zarringhalam brings to Velodyne Lidar nearly 35 years of
experience in technology, operations, and business development. He
is a highly qualified Board member, having served in a Board
capacity for several companies in the Nikon investment portfolio,
advising in particular on digital strategy and new market
expansion.
“We are pleased to welcome Hamid to our board and deepen our
relationship with Nikon, one of our key investors since 2018 and a
valued manufacturing partner,” said Dr. Joseph B. Culkin, PhD,
Chairman of Velodyne Lidar’s Board of Directors. “Hamid has an
impressive track record of creating customized strategies that
transform businesses, penetrating highly competitive markets and
enhancing value on a global scale. Hamid is already very familiar
with our company and team, and we look forward to continuing to
benefit from his expertise as we advance our growth trajectory in
the lidar market and drive value.”
Mr. Zarringhalam has been appointed to the Board as a Class I
director and has also been approved by the Velodyne Lidar Board of
Directors to stand for election at the Company’s 2021 Annual
Meeting of Stockholders. In addition, Christopher Thomas, who
joined the Board in July 2020, has transitioned from a Class I to a
Class II director seat.
About Hamid Zarringhalam
Mr. Zarringhalam is Corporate Vice President of Nikon
Corporation. In this capacity, he is simultaneously Chief Executive
Officer of Nikon Ventures Corporation, Co-General Manager of the
Digital Solutions Business Unit in Nikon Corporation and Executive
Vice President of Nikon Precision Inc. Nikon Ventures Corporation
is responsible for the external investments, strategic alliances
and private equity strategy of Nikon Corporation. The Digital
Solutions Business Unit is responsible for leveraging Nikon core
competencies to enable and scale growth in new markets. As EVP of
Nikon Precision, he is responsible for Nikon strategic partnership
activities in Semiconductor Lithography in the United States. Mr.
Zarringhalam joined Nikon in 1987, and in his tenure with Nikon, he
has served in various senior management capacities in technology,
operations, business development, and other corporate groups,
including serving as President of Nikon Precision Europe. He
currently serves on the Board of wrnch, a Canadian Computer Vision
technology company. He has also served in a Board capacity for
several companies in the Nikon investment portfolio. Mr.
Zarringhalam has a Bachelor of Science in Finance and a Master in
Business Administration, both from the University of San
Francisco.
About Christopher Thomas
Mr. Thomas has served as a member of the Board since July 2020.
Most recently, he was a partner with McKinsey & Company where
he served as Co-Managing Partner for the Firm’s Global Digital
Strategy service line as well as its Global IoT service line, and
as the leader of its Asia Semiconductor Practice. Mr. Thomas serves
as Chair of the Audit Committee of the Velodyne Lidar Board.
About Velodyne Lidar
Velodyne Lidar (Nasdaq: VLDR, VLDRW) ushered in a new era of
autonomous technology with the invention of real-time surround view
lidar sensors. Velodyne is the global leader in Lidar and is known
worldwide for its broad portfolio of breakthrough lidar
technologies. Velodyne’s revolutionary sensor and software
solutions provide flexibility, quality and performance to meet the
needs of a wide range of industries, including autonomous vehicles
(AV), advanced driver assistance systems (ADAS), robotics, unmanned
aerial vehicles (UAV), smart cities and security. Through
continuous innovation, Velodyne strives to transform lives and
communities by advancing safer mobility for all. For more
information, visit www.velodynelidar.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995, including but not limited
to, statements regarding our financial outlook and market
positioning. Forward-looking statements give our current
expectations and projections relating to our financial condition,
results of operations, plans, objectives, future performance and
business. You can identify forward-looking statements by the fact
that they do not relate strictly to historical or current facts.
These statements may include words such as "anticipate",
"estimate", "expect", "project", "plan", "intend", "believe",
"may", "will", "should", "can have", "likely" and other words and
terms of similar meaning in connection with any discussion of the
timing or nature of future operating or financial performance or
other events. All forward-looking statements are subject to risks
and uncertainties that may cause actual results to differ
materially from those that we expected, including: the impact on
our operations and financial condition from the effects of the
current COVID-19 pandemic both on Velodyne’s business and those of
its customers and suppliers; Velodyne’s ability to execute its
business plan; the timing of revenue from existing customers,
including uncertainties related to the ability of Velodyne’s
customers to commercialize their products and the ultimate market
acceptance of these products; uncertainties related to Velodyne
Lidar’s estimates of the size of the markets for its products and
future revenue opportunities; the rate and degree of market
acceptance of Velodyne Lidar’s products; the success of other
competing lidar and sensor-related products and services that exist
or may become available; rising costs adversely affecting
Velodyne’s profitability; uncertainties related to Velodyne Lidar’s
current litigation and potential litigation involving Velodyne
Lidar or the validity or enforceability of Velodyne Lidar’s
intellectual property; Velodyne Lidar’s ability to partner with and
rely on third party manufacturers; general economic and market
conditions impacting demand for Velodyne Lidar’s products and
services; and changes in applicable laws or regulations.
Given these factors, as well as other variables that may affect
Velodyne Lidar’s operating results, you should not rely on
forward-looking statements, assume that past financial performance
will be a reliable indicator of future performance, or use
historical trends to anticipate results or trends in future
periods. The forward-looking statements included in this press
release relate only to events as of the date hereof. Velodyne Lidar
undertakes no obligation to update or revise any forward-looking
statement as a result of new information, future events or
otherwise, except as otherwise required by law.
Additional Information and Where to Find It
Velodyne Lidar, its directors and certain executive officers may
be participants in the solicitation of proxies from stockholders in
connection with Velodyne Lidar’s 2021 Annual Meeting of
Stockholders (the “Annual Meeting”). Velodyne Lidar plans to file a
proxy statement (the “2021 Proxy Statement”) with the Securities
and Exchange Commission (the “SEC”) in connection with the
solicitation of proxies for the Annual Meeting.
Promptly after filing its definitive 2021 Proxy Statement with
the SEC, Velodyne Lidar will mail the definitive 2021 Proxy
Statement and a proxy card to each stockholder entitled to vote at
the Annual Meeting. STOCKHOLDERS ARE URGED TO READ THE 2021 PROXY
STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY
OTHER RELEVANT DOCUMENTS THAT VELODYNE WILL FILE WITH THE SEC WHEN
THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION. Stockholders may obtain, free of charge, Velodyne
Lidar’s proxy statement (in both preliminary and definitive form),
any amendments or supplements thereto and any other relevant
documents filed by Immersion with the SEC in connection with the
Annual Meeting at the SEC’s website (http://www.sec.gov). Copies of
Velodyne Lidar’s definitive 2021 Proxy Statement, any amendments or
supplements thereto and any other relevant documents filed by
Velodyne with the SEC in connection with the Annual Meeting will
also be available, free of charge, at Velodyne’s website
(http://www.velodynelidar.com) or by writing to Investor Relations,
Velodyne Lidar, Inc, 5521 Hellyer Avenue, San Jose, CA 95138.
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version on businesswire.com: https://www.businesswire.com/news/home/20210225006171/en/
Investor Contact: Drew Hamer Chief Financial Officer
InvestorRelations@velodyne.com
Media Contact: Matthew Sherman / Jim Golden Joele Frank,
Wilkinson Brimmer Katcher 212-355-4449
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