LAKE MARY, Fla., March 10, 2014 /PRNewswire/ -- FARO
Technologies, Inc. (NASDAQ: FARO) today announced that Peter G. Abram has been appointed Senior Vice
President and Chief Financial Officer, effective March 31, 2014.
Mr. Abram will replace Keith S.
Bair as part of a planned transition in financial
leadership. Mr. Bair will leave the Company to pursue other
opportunities after the completion of a transition period. "Peter
is joining FARO at a pivotal time," stated Jay Freeland, President and CEO. "We have
been executing on a comprehensive organizational plan to strengthen
FARO's senior management, aligned with our broader goal to take
FARO to a new level of performance. Peter brings an extensive
financial, strategic and operational background with over twenty
years of progressive experience in multinational corporations."
Mr. Abram was most recently with inVentiv Health Clinical LLC in
Blue Bell, Pennsylvania, serving
as Chief Financial Officer, Phase II-IV, and previously held senior
management positions at Styron LLC and MDS, Inc. following a number
of advancing positions at PerkinElmer, Inc. and General Electric
Capital. In addition to roles in financial leadership, Mr.
Abram also served as Director of Global Sales Operations for
PerkinElmer's Life and Analytical Sciences division and gained
significant international experience with Aeroquip-Vickers, Inc.,
spending two years living in Singapore. Mr. Abram holds a
B.S. degree in Finance from Miami
University.
"As Chief Financial Officer of the Company for the past eight
years, Keith has done a tremendous job in managing FARO's financial
function through periods of growth and through the recent
recession," stated Mr. Freeland. "I am grateful for Keith's
contributions to FARO and want to thank him for his dedicated
service to the Company. We wish him well in his future
endeavors."
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 Mr. Abram's contribution to FARO and the expansion of
FARO's business. 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 "will," "goal" and similar
expressions 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:
- Mr. Abram's ability to integrate into FARO's management team
and operations;
- development by others of new or improved products, processes
or technologies that make FARO's products obsolete or less
competitive;
- declines or other adverse changes, or lack of improvement,
in industries that FARO serves or the domestic and international
economies in the regions of the world where FARO operates and other
general economic, business, and financing conditions;
- risks associated with international operations, such as
fluctuations in currency exchange rates, difficulties in staffing
and managing foreign operations, political and economic
instability, compliance with import and export regulations, and the
burdens and potential exposure of complying with a wide variety of
U.S. and foreign laws and labor practices;
- 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, 2013.
Forward-looking statements in this release represent FARO's
judgment as of the date of this release. FARO undertakes no
obligation to update publicly any forward-looking statements,
whether as a result of new information, future events, or
otherwise.
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 compound
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.
Approximately 15,000 customers are operating more than 30,000
installations of FARO's systems, worldwide. The Company's global
headquarters is located in Lake Mary,
FL; its European regional headquarters in Stuttgart, Germany; and its Asia/Pacific regional headquarters in
Singapore. FARO has branches in
Brazil, Mexico, United
Kingdom, France,
Spain, Italy, Netherlands, Switzerland, Portugal, India, China,
Malaysia, Vietnam, Thailand, South
Korea and Japan.
More information is available at http://www.faro.com.
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SOURCE FARO Technologies, Inc.