NATICK, Mass.--(BUSINESS WIRE)--
Cognex
Corporation (NASDAQ: CGNX) has announced the retirement of
Richard
A. Morin, Executive Vice President of Finance and Administration and
Chief Financial Officer, after 18 years with the company. John J.
Curran, Cognex's Senior Vice President of Finance, will succeed Mr.
Morin as CFO on
February 17.
Mr. Morin will remain with
Cognex full time
through the end of March to ensure a smooth transition; after his
retirement he will continue with the company as Secretary of Cognex's
Board of Directors.
"For nearly two decades, Dick's business acumen and expertise have been
great assets to both the Board and the management team at Cognex," said
Dr. Robert J. Shillman, Chairman of Cognex. "During his tenure, our
annual revenue increased from $150 million to over $500 million. Dick's
careful management of the budget and P&L, together with his leadership
of the Finance and Administration teams, have been instrumental to that
growth and to our success."
Dr. Shillman continued, "Although Dick is leaving his role as Cognex's
Executive Vice President of Finance and Administration and CFO, he
remains a Cognoid and we will continue to rely on his expertise for
special projects."
As Cognex's new Chief Financial Officer, John Curran will oversee
Cognex's Finance, Treasury, Tax, Investor Relations, Legal, and
Information Technology departments, reporting to CEO Robert Willett.
Mr. Curran joined Cognex in September 2016 after a 21-year career at EMC
Corporation, where he most recently served as Senior Vice President of
Finance and Corporate Controller. Prior to that, he was Interim CFO for
Pivotal, Inc., a $200 million subsidiary of EMC focusing on application
and data infrastructure software, agile development services, and data
science consulting. While at EMC, Mr. Curran also led the implementation
of a global ERP system that delivered improved visibility into the
company's worldwide operations and established an IT foundation for
future growth. He holds a Bachelor of Science degree in Accounting and
an MBA from Babson College.
"We are very excited to have someone of John's abilities and track
record taking the reins as CFO," said Cognex President and CEO, Robert
J. Willett. "His experience building and managing large global finance
teams and his past success implementing an ERP system similar to the one
Cognex is preparing to launch will be great assets as we lay the
groundwork for our future growth."
About Cognex Corporation
Cognex Corporation designs, develops, manufactures and markets a range
of products that incorporate sophisticated machine vision technology
that gives them the ability to "see." Cognex products include barcode
readers, machine vision sensors and machine vision systems that are used
in factories, warehouses and distribution centers around the world to
guide, gauge, inspect, identify and assure the quality of items during
the manufacturing and distribution process. Cognex is the world's leader
in the machine vision industry, having shipped more than 1 million
vision-based products, representing over $4 billion in cumulative
revenue, since the company's founding in 1981. Headquartered in Natick,
Massachusetts, USA, Cognex has regional offices and distributors located
throughout the Americas, Europe and Asia. For details,
visit Cognex online at http://www.cognex.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170216006032/en/
Cognex Corporation
Investor Relations Contact:
Susan
Conway, 508-650-3353
Sr. Director, Investor Relations
susan.conway@cognex.com
or
PR
Contact:
Robin Pratt, 508-650-3384
Corporate Communications
robin.pratt@cognex.com
Source: Cognex Corporation
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