Velodyne Lidar Announces Appointment of Corporate Governance Expert Virginia Boulet to Board of Directors
November 01 2021 - 4:05PM
Business Wire
Velodyne Co-Founder and Board Director Dr.
Joseph B. Culkin to Retire
Velodyne Lidar, Inc. (NASDAQ: VLDR, VLDRW), today announced that
its Board of Directors has appointed corporate governance expert
Virginia Boulet to the Board. Ms. Boulet has been appointed to the
Board as a Class II director and is expected to join November 4,
2021.
Ms. Boulet currently serves as the Lead Independent Director,
the Chair of the Nominating and Corporate Governance Committee and
a member of the Compensation and Audit Committees of W&T
Offshore, Inc. Ms. Boulet is a corporate governance leader with
more than 30 years of experience in corporate and securities law at
New Orleans’ three largest firms. She is also a highly qualified
director, having served on the board of Lumen Technologies, Inc.
from the time when Lumen had less than $1 billion in annual
revenues through that company’s growth to a global company with
more than $20 billion in annual revenues. Ms. Boulet has been
appointed to the Compensation and Nominating and Governance
Committees of the Velodyne Board.
“I am excited to welcome Virginia as we continue to build upon
our strong, diverse and experienced Board of Directors,” said
Michael Dee, Chairman of the Velodyne Lidar Board. “Virginia brings
a unique background of exemplary leadership in the field of
corporate governance. Her energy and integrity will serve
Velodyne’s shareholders well and we look forward to benefiting from
her contributions.”
Velodyne also announced today that Dr. Joseph B. “Brad” Culkin
has decided to step down as a director of the Company, effective
immediately.
Mr. Dee continued, “The Board and I would like to express our
deep and heartfelt appreciation for Brad’s wise and tireless
leadership of Velodyne Lidar over the past 38 years. As a
co-founder, board member and Chairman, Brad’s deep technical
expertise was instrumental in building this company into the market
leader in lidar, and we will all miss his friendship and counsel.
Brad remains one of Velodyne’s biggest supporters as we continue to
execute on our strategic growth plan and drive long-term
value.”
Dr. Culkin said, “Serving alongside Velodyne’s intelligent and
dedicated directors has been one of the most rewarding experiences
of my life. I will miss working with them all dearly and am
confident that I leave the company in very capable hands.”
About Virginia Boulet
Ms. Boulet was a Managing Director of Legacy Capital, LLC from
April 2014 until 2019. From 2014 through 2018, she was an adjunct
professor of law at Loyola University Law School. From 2002 to
March 2014, Ms. Boulet served as Special Counsel at the law firm of
Adams and Reese, LLP. She also served as President and Chief
Operating Officer of IMDiversity, Inc. from March 2002 to March
2004. Prior to 2002, Ms. Boulet was a partner at the law firms of
Phelps Dunbar, LLP, and Jones Walker. Ms. Boulet received a B.A.
from Yale University, and a J.D., cum laude, from Tulane
University.
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, the global leader in lidar, is known 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, 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 United States
Private Securities Litigation Reform Act of 1995 including, without
limitation, all statements other than historical fact and include,
without limitation, statements regarding Velodyne’s target markets,
new products, development efforts, and competition. When used in
this press release, the words “estimates,” “projected,” “expects,”
“anticipates,” “forecasts,” “plans,” “intends,” “believes,”
“seeks,” “may,” “will,” “can,” “should,” “future,” “propose” and
variations of these words or similar expressions (or the negative
versions of such words or expressions) are intended to identify
forward-looking statements. These forward-looking statements are
not guarantees of future performance, conditions or results and
involve a number of known and unknown risks, uncertainties,
assumptions and other important factors, many of which are outside
Velodyne’s control, that could cause actual results or outcomes to
differ materially from those discussed in the forward-looking
statements. Important factors, among others, that may affect actual
results or outcomes include uncertainties regarding government
regulation and adoption of lidar, the uncertain impact of the
COVID-19 pandemic on Velodyne’s and its customers’ businesses;
Velodyne’s ability to manage growth; Velodyne’s ability to execute
its business plan; uncertainties related to the ability of
Velodyne’s customers to commercialize their products and the
ultimate market acceptance of these products; the rate and degree
of market acceptance of Velodyne’s products; the success of other
competing lidar and sensor-related products and services that exist
or may become available; uncertainties related to Velodyne’s
current litigation and potential litigation involving Velodyne or
the validity or enforceability of Velodyne’s intellectual property;
and general economic and market conditions impacting demand for
Velodyne’s products and services. For more information about risks
and uncertainties associated with Velodyne’s business, please refer
to the “Management’s Discussion and Analysis of Financial Condition
and Results of Operations” and “Risk Factors” sections of
Velodyne’s SEC filings, including, but not limited to, its annual
report on Form 10-K and quarterly reports on Form 10-Q. All
forward-looking statements in this press release are based on
information available to Velodyne as of the date hereof, Velodyne
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law.
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