Proven Executive Brings a Long Track Record and
Decades of Experience Leading Innovative Businesses
Velodyne Lidar, Inc. (NASDAQ: VLDR, VLDRW), the leading lidar
company, known worldwide for its broad portfolio of breakthrough
lidar technologies, today announced the appointment of Theodore
“Ted” L. Tewksbury, Ph.D. as Chief Executive Officer, effective
November 10, 2021.
Dr. Tewksbury is a proven technology executive with more than 30
years of leadership experience across a series of public and
private companies. Dr. Tewksbury most recently served as Chief
Executive Officer of Eta Compute, a leading provider of ultra-low
power AI vision systems. Prior to Eta Compute, he held several
chief executive and board positions at leading high-technology
companies, including Entropic Communications and Integrated Device
Technology. Dr. Tewksbury is an accomplished engineer, with a Ph.D.
in electrical engineering from MIT. He has held a variety of
engineering and management positions in his career, including
introducing over 180 innovative new product families during his
time at Maxim Integrated Products.
“We are pleased to welcome Ted to the Velodyne team. Ted’s
extensive leadership experience in addition to engineering
expertise, make him an ideal candidate to lead Velodyne as we
continue to lead the lidar industry with the most cutting-edge
products and scalable manufacturing capacity,” said Michael Dee,
Chairman of the Velodyne Board of Directors. “Innovation and
execution are our most important priorities and Ted’s direct
experience designing and manufacturing leading-edge technologies
makes him a natural complement to Velodyne’s world-class technology
development and engineering team. Velodyne is far and away the
market leader, having sold over 15,000 sensors in the last 12
months with the widest product range in the industry. We are
confident that under his leadership, Velodyne is poised to continue
expanding its global footprint and drive long-term value for all
shareholders.”
“I am thrilled to join Velodyne at such an exciting time in its
development. It is an honor to be part of its world class
management and engineering team. The opportunity set for Velodyne
is vast and mass adoption is just around the corner,” said Dr.
Tewksbury. “The Velodyne name is revered in the lidar space and I
look forward to advancing the company’s strategy and driving value
for all stakeholders for years to come.”
Hamid Zarringhalam, Board member and head of the Board’s CEO
search committee said, “I am very proud the Board was able to
conduct a robust and comprehensive three-month selection process to
evaluate a deep pool of highly qualified candidates and unanimously
select a candidate of Ted’s caliber to lead Velodyne forward. I
also want to thank the Office of the Chief Executive (“OCE”),
consisting of Jim Barnhart, Chief Operating Officer; Drew Hamer,
Chief Financial Officer; Kathy McBeath, Chief People Officer, and
Sinclair Vass, Chief Commercial Officer, as well as Chief
Technology Officer Matt Rekow for their teamwork and critical
contributions as we conducted our CEO search. Their teamwork in
stepping in to manage the company was significant in helping us
achieve this successful search.” With the appointment of Dr.
Tewksbury, the OCE has been dissolved and each will remain with the
company in their respective positions.
About Theodore L. Tewksbury, Ph.D.
Theodore L. Tewksbury, Ph.D. was previously Chief Executive
Officer of Eta Compute, a provider of ultra-low power AI vision
systems. Prior to joining Eta Compute, he served as president and
chief executive officer for Entropic Communications, an industry
leader in connectivity solutions for cable, satellite and broadband
infrastructure, until the company’s acquisition by MaxLinear
Corporation. Before this, as President and Chief Executive Officer
of Integrated Device Technology, he led the company’s successful
turnaround by launching new growth businesses including wireless
charging, power management and high-performance radio frequency
(RF) products. Dr. Tewksbury was also President and Chief Operating
Officer of AMI Semiconductor, a leading developer of semiconductor
solutions for automotive, industrial and medical applications
before its acquisition by ON Semiconductor. Earlier in his career,
Dr. Tewksbury held a variety of engineering and management
positions at Maxim Integrated, IBM Microelectronics and Analog
Devices.
Dr. Tewksbury holds B.S., M.S. and Ph.D. degrees in electrical
engineering from MIT. He is currently on the boards of MaxLinear
and Jariet Technologies and previously served on the boards of
Global Semiconductor Alliance and Entropic Communications.
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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Investor Relations InvestorRelations@velodyne.com
Media Jim Golden / Jack Kelleher / Lyle Weston Joele
Frank, Wilkinson Brimmer Katcher 212-355-4449
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