Faro Picks Former CEO Simon Raab as Interim Leader
LAKE MARY, Fla., Dec. 8, 2015 — Faro Technologies Inc. has chosen Simon Raab, its cofounder and chairman, to serve as interim president and CEO following the resignation of Jay Freeland as president, CEO and a member of the board of directors.
"As a cofounder of the company and chairman of the board over the last 17 years, Simon has extensive experience in leading Faro," said Stephen Cole, lead director. "During Simon's prior tenure as the CEO of Faro, he created significant shareholder value, leading Faro through an [initial public offering], global expansion, several strategic acquisitions, including those associated with the company's laser tracker and laser scanner product lines, and delivering consistent above-market growth."
Raab has served as chairman of the Faro board of directors since its inception in 1982. He was CEO from 1982 until January 2006, co-CEO from January to December 2006 and president from 1986 to 2004. Under Raab's leadership from 1997 to 2006, Cole said, Faro's annual revenues grew by an average of 23 percent to $152.4 million.
Raab has a doctorate in mechanical engineering from McGill University, a master's degree in engineering physics from Cornell University and a bachelor's degree in physics from the University of Waterloo in Ontario, Canada.
Faro develops and markets computer-aided 3D measurement and imaging devices and software.