Velodyne Lidar Appoints Mark Weinswig as Chief Financial Officer

SAN JOSE, Calif.–(Small business WIRE)–Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today announced the appointment of Mark Weinswig as Main Money Officer, powerful May 16, 2022. He will report right to CEO Dr. Ted Tewksbury and succeeds Drew Hamer, who will transition out of Velodyne to devote time with his spouse and children in progress of pursuing vocation chances later on this year.

Weinswig is a seasoned public business CFO with much more than 25 several years of strategic and operational knowledge in engineering firms which include scaling corporations, streamlining price constructions, and conducting mergers and acquisitions. In addition to foremost the finance and company enhancement teams, Weinswig will operate with leadership on strategic planning, gross margin improvements and driving operational excellence.

“Mark is an fantastic addition to our govt staff as we amplify our target on financially rewarding income advancement,” stated Tewksbury. “His competencies and practical experience in the optical market all through a time period of transformative modify are right suitable to the lidar business currently. Mark will help us carry on to scale the corporation and make improvements to profitability, even though offering total stack intelligent eyesight alternatives that facilitate our customers’ advancement of autonomous systems.”

“Drew helped position Velodyne for its next phase of growth by making sure an ongoing potent financial position. He has been an priceless lover to the board and govt workforce. We thank him for his several contributions to Velodyne and would like him the incredibly ideal with his future endeavors,” additional Tewksbury.

Weinswig claimed, “Ted’s vision and monitor document of primary commercially successful know-how innovation, merged with Velodyne’s sizeable industry chance and major lidar methods, were crucial drivers for me in becoming a member of Velodyne. I search ahead to functioning carefully with the exceptional administration crew as we proceed to execute on the important growth options that lie forward.”

About Mark Weinswig

Mark Weinswig has extra than 25 a long time of practical experience in money leadership positions in personal and publicly traded technologies businesses, including 11 yrs as a main monetary officer. Most not too long ago, Weinswig served as CFO of Avinger, a professional-stage clinical product organization. Beforehand, he held monetary leadership positions in the optical part and laser business, which include Emcore, Avanex and Coherent. He began his career in general public accounting at PricewaterhouseCoopers and worked at Morgan Stanley as an equity investigate analyst masking the optical field. Weinswig has held the two Certified Public Accountant and Chartered Economic Analyst designations. He received an MBA from Santa Clara University and a BS in Accounting from Indiana College.

Conference Contact Data

Velodyne will host a initially quarter 2022 outcomes conference phone and stay webcast for analysts and traders at 4:30 p.m. Jap Time on May possibly 5, 2022. Parties in the United States and Canada can access the connect with by dialing 844-890-1797. The webcast will be accessible on Velodyne’s trader relations internet site at here. A telephonic replay of the conference contact will be out there by means of May 12, 2022. To accessibility the replay, events in the United States and Canada really should call 877-344-7529 and enter convention code 7274244.

About Velodyne Lidar

Velodyne Lidar (Nasdaq: VLDR, VLDRW) ushered in a new era of autonomous technology with the creation of true-time encompass watch lidar sensors. Velodyne, the international leader in lidar, is regarded for its wide portfolio of breakthrough lidar systems. Velodyne’s groundbreaking sensor and program solutions deliver versatility, high quality, and functionality to meet the wants of a vast assortment of industries, like autonomous vehicles, superior driver support techniques (ADAS), robotics, unmanned aerial automobiles (UAV), clever metropolitan areas and stability. By steady innovation, Velodyne strives to remodel life and communities by advancing safer mobility for all. For extra information, check out www.velodynelidar.com.

Ahead Searching Statements

This push launch consists of “forward on the lookout statements” inside of the that means of the “secure harbor” provisions of the United States Personal Securities Litigation Reform Act of 1995 which include, with no limitation, all statements other than historic simple fact and incorporate, without having limitation, statements relating to Velodyne’s focus on markets, new merchandise, development initiatives, and competitors. When applied in this push release, the text “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “designs,” “intends,” “thinks,” “seeks,” “may well,” “will,” “can,” “need to,” “upcoming,” “suggest” and variants of these words or equivalent expressions (or the adverse versions of this sort of text or expressions) are supposed to establish forward-seeking statements. These ahead-looking statements are not assures of long term overall performance, situations or effects and contain a variety of recognised and unfamiliar threats, uncertainties, assumptions and other crucial factors, many of which are outside the house Velodyne’s control, that could trigger actual success or outcomes to differ materially from these talked over in the ahead-seeking statements. Important aspects, between other individuals, that may perhaps have an affect on actual success or outcomes incorporate uncertainties pertaining to governing administration regulation and adoption of lidar, the unsure effects of the COVID-19 pandemic on Velodyne’s and its customers’ businesses Velodyne’s capacity to take care of development Velodyne’s skill to execute its company approach uncertainties similar to the means of Velodyne’s customers to commercialize their products and solutions and the greatest current market acceptance of these merchandise the level and diploma of industry acceptance of Velodyne’s items the achievements of other competing lidar and sensor-linked products and solutions that exist or may perhaps become accessible uncertainties related to Velodyne’s recent litigation and probable litigation involving Velodyne or the validity or enforceability of Velodyne’s mental assets and general economic and sector circumstances impacting need for Velodyne’s goods and services. For far more facts about hazards and uncertainties connected with Velodyne’s enterprise, please refer to the “Management’s Dialogue and Investigation of Economical Issue and Effects of Operations” and “Risk Factors” sections of Velodyne’s SEC filings, which include, but not minimal to, its once-a-year report on Sort 10-K and quarterly studies on Kind 10-Q. All forward-seeking statements in this push release are based mostly on facts available to Velodyne as of the day hereof, Velodyne undertakes no obligation to update or revise any ahead-hunting statements, whether as a outcome of new data, potential gatherings or otherwise, other than as expected by legislation.