/ CORRECTION - Perceptron(R) Announces Appointment of Jeffrey M. Armstrong as President & Chief Executive Officer Together Wi...
2013年11月1日 - 5:53AM
Marketwired
/ CORRECTION - Perceptron(R) Announces Appointment of Jeffrey M.
Armstrong as President and Chief Executive Officer Together With
Planned Retirements
PLYMOUTH, MI--(Marketwired - Oct 31, 2013) - In the news
release, "Perceptron(R) Announces Appointment of Jeffrey M.
Armstrong as President and Chief Executive Officer Together With
Planned Retirements," issued earlier today by Perceptron, Inc.
(NASDAQ: PRCP), we are advised by the company that
the first sentence of the last paragraph before the
boiler plate should name John H. Lowry, III as "Vice President and
CFO" rather than "Vice President and CEO" as originally
issued. Complete corrected text follows.
Perceptron(R) Announces Appointment of Jeffrey M. Armstrong as
President and Chief Executive Officer Together With Planned
Retirements
PLYMOUTH, MI -- October 31, 2013 -- Perceptron, Inc.
(NASDAQ: PRCP), a global leader in 3D laser and software
technology-based non-contact measurement and inspection solutions,
today announced that the Board of Directors of the Company,
following an extensive national search, has appointed Jeffrey M.
Armstrong to serve as President and CEO of the Company, effective
November 4, 2013.
Mr. Armstrong will succeed Harry T. Rittenour, who will retire
as President and CEO of the Company after nearly six years in that
position and nearly 17 years with the Company. Mr. Rittenour
will remain as a consultant to the Company during a planned
transition period.
Mr. Armstrong, 51, served as Vice President and General Manager
of DRS Consolidated Controls, Inc., a subsidiary of Finmeccanica
SpA, an Italian conglomerate, from October 2008 to June
2013. From February 2007 to October 2008, Mr. Armstrong was
Vice President of Engineering and Operations for DRS Power and
Control Technologies, Inc. DRS Consolidated Controls is
focused on the development and delivery of highly engineered
machinery control systems and services for global industrial and
government energy customers. Prior to joining DRS, Mr.
Armstrong served in various management roles at General Dynamics
Corporation from August 2001 to February 2007. Mr. Armstrong
was a submarine officer in the United States Navy from February
1987 to August 2001. He holds a degree in Mechanical
Engineering from the University of Washington and completed the
Harvard Business School Advanced Management Program.
"Perceptron's Board set high standards in selecting the
Company's next CEO," said W. Richard Marz, Chairman of the
Board. "Jeff Armstrong brings to Perceptron an outstanding
record of success developing and delivering highly complex system
technologies and machinery control systems to customers
worldwide. He possesses strategic vision, he knows how to lead
and develop a high-performing team, and he has proven skills in
growing a business in a challenging and very competitive market
environment. We are extremely pleased to have an executive of
Jeff's ability to lead Perceptron forward."
The CEO search process was conducted by a CEO Search Committee
that was chaired by Perceptron Board member, Philip J.
DeCocco. The search was supported by a leading executive
search firm. Mr. Armstrong was selected from an outstanding
group of business leaders interested in leading Perceptron.
Mr. Armstrong said, "I am honored to have the opportunity to
serve as President and CEO of Perceptron. Perceptron is a
leading global technology company and I am excited by the growth
opportunities that exist with a strong balance sheet coupled with a
new product line-up that enables us to provide additional solutions
for existing customers, gain new customers, and enter into new
strategic markets."
Mr. Armstrong is expected to be appointed to the Company's Board
of Directors by the existing members of the Board after the
Company's Annual Meeting of Shareholders, which will be held on
November 12, 2013.
Mr. Marz said, "Harry Rittenour has served Perceptron, its
shareholders, and employees well over the past six years as
President and CEO. The Board of Directors is deeply grateful
to Harry for the significant contributions he has made to
Perceptron. We wish him well in retirement."
"It has been an honor and a privilege to lead Perceptron as
President and CEO. We have accomplished a great deal during my
tenure and the Company is well positioned for the future. I
look forward to assisting Jeff Armstrong as he assumes the
leadership of Perceptron," stated Mr. Rittenour.
The Company also announced that John H. Lowry, III, Vice
President and CFO, plans to retire in fiscal 2014. The Board
intends to engage an executive search firm to assist them in
identifying Mr. Lowry's replacement. It is expected that Mr.
Lowry will be available to assist in the transition of his
responsibilities for a period of time following his retirement.
About Perceptron®
Perceptron, Inc. (or the "Company") develops, produces and sells
non-contact measurement and inspection solutions for industrial
applications. The Company's products provide solutions for
manufacturing process control as well as sensor and software
technologies for non-contact measurement, scanning and inspection
applications. Automotive and manufacturing companies
throughout the world rely on Perceptron's metrology solutions to
help them manage their complex manufacturing processes to improve
quality, shorten product launch times and reduce overall
manufacturing costs. The Company also offers Valued Added
Services such as training and customer support
services. Headquartered in Plymouth, Michigan, Perceptron has
approximately 235 employees worldwide, with operations in the
United States, Germany, France, Spain, Brazil, Japan, Singapore,
China and India. For more information, please visit
www.perceptron.com.
Company Contact: Harry T. Rittenour President and Chief
Executive Officer 734-414-6100
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