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Title : Fight for Velodyne Control Continues
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Fight for Velodyne Control Continues

BusinessWire: David Hall, Velodyne founder and the owner of 42.9% of the common stock, issued a statement:

"While we welcome the news of Brad Culkin's retirement from the Board, it does not remedy the fact that we believe Chairman Michael Dee continues to lead Velodyne Lidar down the path of financial ruin. During Mr. Dee’s tenure, Velodyne Lidar has fallen from its position as a global leader in lidar technology and innovation, and the Board has undertaken a series of anti-stockholder actions that has, in our view, resulted in insular corporate governance, troubling underperformance and strategic incompetency."

BusinessWire: Meanwhile, Velodyne announces a new CEO, Theodore “Ted” L. Tewksbury instead of Anand Gopalan who has been heavily criticized by David Hall:

"Dr. Tewksbury is a proven technology executive with more than 30 years of leadership experience across a series of public and private companies. Dr. Tewksbury most recently served as Chief Executive Officer of Eta Compute, a leading provider of ultra-low power AI vision systems. Prior to Eta Compute, he held several chief executive and board positions at leading high-technology companies, including Entropic Communications and Integrated Device Technology. Dr. Tewksbury is an accomplished engineer, with a Ph.D. in electrical engineering from MIT. He has held a variety of engineering and management positions in his career, including introducing over 180 innovative new product families during his time at Maxim Integrated Products."

A few slides from Velodyne Q3 2021 investors presentation:

Thus Article Fight for Velodyne Control Continues

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