Perceptron Names Ex Faro CEO Jay Freeland as Chairman of the Board

Perceptron has announced the appointment of Jay Freeland, a current independent director of Perceptron, as the new Chairman of the Board of Directors, effective immediately.

Mr. Freeland succeeds W. Richard Marz, who has retired from his position as Chairman of the Board. Mr. Marz will continue to serve as an independent director until a replacement is found. The Board of Directors will initiate a search to identify a replacement board member, with a strong and dedicated focus toward diverse candidates.

“We are incredibly excited to announce industry veteran Jay Freeland as Chairman of the Board,” said David Watza, President and CEO of Perceptron. “Jay’s broad resume of executive, financial and operational leadership, as well as his immense knowledge and experience in the metrology industry uniquely qualify him to drive the strategic direction of Perceptron. This appointment will enhance our continued focus on core competencies and market share penetration, as well as our pursuits for growth within automotive and adjacent industries. We thank Rick for his many years of dedicated service as an independent director and Chairman. We appreciate his ongoing support and wish him all the best in his retirement.”

Mr. Freeland most recently served as President and Chief Executive Officer of FARO Technologies, Inc. (“FARO”) from December 2006 until December 2015, and as a Director of FARO from February 2006 until December 2015.  FARO is a publicly traded global technology company that designs, develops, manufactures, markets and supports software driven, three-dimensional measurement, imaging and realization systems.

Mr. Freeland commented, “I am honored to be appointed as Perceptron’s Chairman of the Board and am excited to offer my experience and unique perspective as a catalyst for continued momentum toward the Company’s current and future strategic initiatives. On behalf of our board, I appreciate Rick’s undeniable contributions to this company, and look forward to continuing his leadership of Perceptron in pursuit of long-term success.”

Mr. Marz has served as a director of the Company since 2000 and Chairman of the Board since 2008.

Perceptron is a NASDAQ listed company (PRCP). Its share price has lost approximately 40% of its value over the past 4 weeks and following the release of its recent quarterly financial results.

For more information: www.perceptron.com

 

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