NATICK,
Mass., May 2, 2024 /PRNewswire/ -- Cognex
Corporation (NASDAQ: CGNX), a leading provider of machine vision
for factory and warehouse automation, today announced the
appointment of Dennis Fehr as Senior
Vice President of Finance and Chief Financial Officer, effective
May 3, 2024. In this role, Fehr will
lead Cognex's global finance and information technology
organizations.
Fehr brings over 20 years of global experience across
manufacturing, technology, and energy industries. Most recently,
Fehr was the CFO of 6K Inc, a
manufacturing technology company focused on strategic materials in
the battery supply chain and for additive materials. Prior to
6K, Inc., Fehr was the CFO of Fluence
Energy, Inc. (NASDAQ: FLNC), which he helped take public in 2021.
Prior to Fluence Energy, Fehr was Vice President of Finance at
Siemens, where he spent the first 15 years of his career.
Fehr will report to Cognex's President and CEO, Robert J. Willett.
"Dennis is an experienced CFO," said Willett. "He brings global
experience and leadership that we expect to greatly benefit Cognex
as we continue delivering on our global strategy."
"I am excited by the opportunity to join such an innovative
company and leader in factory and warehouse automation," said Fehr.
"Cognex is at an important stage of its growth journey, and I am
energized to help drive financial and operational excellence."
About Cognex Corporation
Cognex Corporation ("the Company" or "Cognex") invents and
commercializes technologies that address some of the most critical
manufacturing and distribution challenges. We are a leading global
provider of machine vision products and solutions that improve
efficiency and quality in high-growth potential businesses across
attractive industrial end markets. Our solutions blend physical
products and software to capture and analyze visual information,
allowing for the automation of manufacturing and distribution tasks
for customers worldwide. Machine vision products are used to
automate the manufacturing or distribution and tracking of discrete
items, such as mobile phones, electric vehicle batteries and
e-commerce packages, by locating, identifying, inspecting, and
measuring them. Machine vision is important for applications in
which human vision is inadequate to meet requirements for size,
accuracy, or speed, or in instances where substantial cost savings
or quality improvements are maintained.
Cognex is the world's leader in the machine vision industry,
having shipped more than 4.5 million image-based products,
representing over $11 billion in
cumulative revenue, since the company's founding in 1981.
Headquartered in Natick,
Massachusetts, USA, Cognex has offices and distributors
located throughout the Americas, Europe, and Asia. For details, visit Cognex online at
www.cognex.com.
Certain statements made in this news release, which do not
relate solely to historical matters, are forward-looking
statements. These statements can be identified by use of the words
"expects," "anticipates," "estimates," "potential," "believes,"
"projects," "intends," "plans," "will," "may," "shall," "could,"
"should," and similar words and other statements of a similar
sense. These statements are based on our current estimates and
expectations as to prospective events and circumstances, which may
or may not be in our control and as to which there can be no firm
assurances given. These forward-looking statements, which include
statements regarding sales and marketing activities, new product
offerings and product development activities, customer acceptance
of our products, the potential effects of emerging technologies,
capital expenditures, cost management activities, investments,
liquidity, dividends and stock repurchases, and strategic and
growth plans, our ability to maintain and grow key relationships,
acquisitions, and estimated tax benefits and expenses and other tax
matters, involve known and unknown risks and uncertainties that
could cause actual results to differ materially from those
projected. Such risks and uncertainties include: the technological
obsolescence of current products and the inability to develop new
products, particularly in connection with emerging artificial
intelligence technologies; the impact of competitive pressures; the
inability to attract and retain skilled employees and maintain our
unique corporate culture; exposure to additional tax liabilities,
increases and fluctuations in our effective tax rate, and other tax
matters; fluctuations in foreign currency exchange rates;
unfavorable global economic conditions, including increases in
interest rates and high inflation rates; economic, political, and
other risks associated with international sales and operations; and
the other risks detailed in Cognex reports filed with the SEC,
including its Form 10-K for the fiscal year ended December 31, 2023 and Form 10-Q for the fiscal
quarter ended March 31, 2024. You
should not place undue reliance upon any such forward-looking
statements, which speak only as of the date made. Cognex disclaims
any obligation to update forward-looking statements after the date
of such statements.
Investor Contacts:
Nathan
McCurren – Head of Investor Relations
Jordan Bertier – Sr. Manager,
Investor Relations
Cognex Corporation
ir@cognex.com
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SOURCE Cognex Corporation