LAKE MARY, Fla., Dec. 16, 2016 /PRNewswire/ -- FARO®
(NASDAQ: FARO) today announced that it has promoted Vice President,
Finance and Investor Relations Robert E. Seidel to Chief Financial
Officer.
"Bob has been a tremendous asset, excelling at executing the
extensive Going Vertical in Harmony reorganization initiatives we
have assigned to him," stated Dr. Simon
Raab, President and CEO. "This promotion largely reflects
the reality of the current roles and responsibilities in our
Finance department as Bob has been leading our efforts in financial
planning and analysis and investor relations for some time with
great success. We look forward to leveraging Bob's financial
experience and leadership to execute on a number of important
initiatives in 2017 to achieve our aggressive growth
objectives."
Prior to joining the Company in May
2014, Mr. Seidel was employed at Trinseo S.A., a global
materials company, serving as Global Finance Manager for its latex
chemicals segment from 2011 to 2014. Previously, Mr. Seidel served
as Plant Controller at Anheuser-Busch InBev from 2006 to 2010.
Mr. Seidel began his finance and accounting career serving in
various financial planning and analysis roles of increasing
responsibility at Air Product and Chemicals, Inc. from 2003 to
2006. Mr. Seidel holds a B.S. degree in mechanical
engineering from Stanford University
and an MBA from Cornell's Johnson School.
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 demand for and customer acceptance of FARO's products, and
FARO's product development and product launches. 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:
- 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, 2015.
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.
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. Technology from FARO permits high-precision 3D
measurement, imaging and comparison of parts and complex structures
within production and quality assurance processes. The devices are
used for inspecting components and assemblies, rapid prototyping,
documenting large volume spaces or structures in 3D, surveying and
construction, as well as for investigation and reconstruction of
accident sites or crime scenes.
FARO's global headquarters are located in Lake Mary, Florida. The Company also has a
technology center and manufacturing facility consisting of
approximately 90,400 square feet located in Exton, Pennsylvania containing research and
development, manufacturing and service operations of its FARO Laser
TrackerTM and FARO Cobalt Array Imager product lines.
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, Vietnam, Thailand, South
Korea, Australia and
Japan.
More information is available at http://www.faro.com
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SOURCE FARO