Dr. Cordell Hardy Appointed to CyberOptics Corporation Board of Directors
January 03 2022 - 4:00PM
Business Wire
CyberOptics Corporation (Nasdaq: CYBE) (the Company) today
announced that it has increased the size of its Board and appointed
Dr. Cordell Hardy to its Board of Directors. The Company also
announced that Michael M. Selzer Jr. has informed the Board of
Directors of his decision not to stand for re-election as a
director. As a result, Mr. Selzer will retire from the Board of
Directors effective upon the expiration of his current term at the
2022 Annual Meeting.
Craig D. Gates, Chairman of the Board of Directors of the
Company commented: “Dr. Hardy brings CyberOptics a deep resume and
expertise in research and innovation, commercialization of new
technologies and portfolio strategy. We are excited to have him
join our Board.” Mr. Gates added: “The Company and the Board of
Directors extend their appreciation to Mr. Selzer for his many
contributions to the Company and his service on the Board.”
Dr. Hardy has been employed by 3M Company since 2003, most
recently as Senior Vice President, Corporate R&D Operations. 3M
Company is a large publicly traded industrial that develops,
manufactures, and markets various products on a worldwide basis
through four business segments: Safety and Industrial,
Transportation and Electronics, Health Care, and Consumer. Dr.
Hardy also serves as Treasurer and on the Board of Directors of
Minnesota Community Care, a federally-qualified health clinic
operator. Dr. Hardy received a PhD in Chemical Engineering from the
University of Minnesota, as well as a Bachelor’s of Science degree
in Chemical Engineering from Florida A&M University.
About CyberOptics
CyberOptics Corporation (www.cyberoptics.com) is a leading
global developer and manufacturer of high-precision 3D sensing
technology solutions. CyberOptics’ sensors are used for inspection
and metrology in the SMT and semiconductor markets to significantly
improve yields and productivity. By leveraging its leading edge
technologies, the Company has strategically established itself as a
global leader in high precision 3D sensors, allowing CyberOptics to
further increase its penetration of key vertical markets.
Headquartered in Minneapolis, Minnesota, CyberOptics conducts
worldwide operations through its facilities in North America, Asia
and Europe.
Statements regarding the Company’s anticipated performance are
forward-looking and therefore involve risks and uncertainties,
including but not limited to: a possible world-wide recession or
depression resulting from the economic consequences of the COVID-19
pandemic; the negative effect on our revenue and operating results
of the COVID-19 crisis on our customers and suppliers and the
global supply chain; market conditions in the global SMT and
semiconductor capital equipment industries; trade relations between
the United States and China and other countries; the timing of
orders and shipments of our products, particularly our 3D MRS
SQ3000 Multi-Function systems and MX systems for memory module
inspection; increasing price competition and price pressure on our
product sales, particularly our SMT systems; the level of orders
from our OEM customers; the availability of parts required to meet
customer orders; unanticipated product development challenges; the
effect of world events on our sales, the majority of which are from
foreign customers; rapid changes in technology in the electronics
and semiconductor markets; product introductions and pricing by our
competitors; the success of our 3D technology initiatives; the
market acceptance of our SQ3000 Multi-Function systems and products
for semiconductor inspection and metrology; costly and time
consuming litigation with third parties related to intellectual
property infringement; the negative impact on our customers and
suppliers due to past and future terrorist threats and attacks and
any acts of war; the impact of the MX3000 orders on our
consolidated gross margin percentage in any future period; risks
related to cancellation or renegotiation of orders we have
received; and other factors set forth in the Company’s filings with
the Securities and Exchange Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20220103005058/en/
Jeffrey A. Bertelsen, Chief Financial Officer 763-542-5000
CyberOptics (NASDAQ:CYBE)
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