Symbotic Announces Tom Ernst’s Retirement and Names Chief Financial Officer
02 Octubre 2023 - 3:05PM
Symbotic Inc. (Nasdaq: SYM), a leader in A.I.-enabled robotics
technology for the supply chain, today announced that Tom Ernst
will retire from his role as Chief Financial Officer (CFO) at the
end of the calendar year. Carol Hibbard has been named to succeed
Ernst as CFO upon his retirement and will serve as a member of the
company’s executive leadership team, reporting directly to Rick
Cohen, Chairman of the Board and Chief Executive Officer.
Ernst’s distinguished career in finance and technology spans
more than three decades. He was appointed as CFO for Symbotic in
2020 leading all financial functions for the company, including
supporting Symbotic in becoming a publicly traded company in 2022.
Ernst will serve as a consultant to the company through the end of
fiscal year 2024 to ensure a smooth transition.
“On behalf of the entire Symbotic team, I want to thank Tom for
his contributions over the last several years. He has been a valued
member of the company who has successfully led our finance
organization and played an important role in our transformation. He
was instrumental in the transaction to take the company public and
has been a key partner during this period of exceptional growth for
Symbotic. I wish him the best in his retirement,” said Rick
Cohen.
Hibbard joins Symbotic from The Boeing Company where she served
as Senior Vice President and Corporate Controller with
responsibility for all financial reporting and regulatory
compliance functions for the company. Hibbard is a seasoned leader
with extensive financial, operational and business experience and a
passion for technological transformation. Prior to her role as
Controller, Hibbard served in several leadership roles at Boeing,
including Vice President and CFO for Boeing Defense, Space and
Security and Vice President and CFO for their Engineering,
Operations and Technology organization.
“I am excited to welcome Carol Hibbard. Her extensive experience
and financial acumen will be a tremendous asset to Symbotic as we
continue the next phase of our growth strategy,” said Rick Cohen.
“We are well positioned for the future – with a strong leadership
team, an expanding customer base and some of the most innovative
technology in the supply chain industry,” continued Rick Cohen.
“I am delighted to be joining Symbotic,” said Hibbard. “Symbotic
is truly reinventing the warehouse with a next-generation,
AI-enabled automation system that brings unique innovation to the
supply chain. I look forward to working with the leadership to
drive continued growth and to maximize value to customers and
shareholders.”
ABOUT SYMBOTIC
Symbotic is an automation technology leader reimagining the
supply chain with its end-to-end, A.I.-powered robotic and software
platform. Symbotic reinvents the warehouse as a strategic asset for
the world’s largest retail, wholesale, and food & beverage
companies. Applying next-generation technology, high-density
storage and machine learning to solve today's complex distribution
challenges, Symbotic enables companies to move goods with unmatched
speed, agility, accuracy and efficiency. As the backbone of
commerce Symbotic transforms the flow of goods and the economics of
the supply chain for its customers. For more information, visit
www.symbotic.com.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
including, but not limited to, statements about Symbotic’s CFO
transition and Symbotic’s expectations or predictions of future
financial or business performance or conditions. Such
forward-looking statements involve risks and uncertainties that may
cause actual events, results or performance to differ materially
from those indicated by such statements. Certain of these risks are
identified and discussed in Symbotic’s Annual Report on Form 10-K
filed with the U.S. Securities and Exchange Commission (the “SEC”)
on December 9, 2022 and Quarterly Report on Form 10-Q filed with
the SEC on August 2, 2023. These forward-looking statements are
expressed in good faith, and Symbotic believes there is a
reasonable basis for them. However, there can be no assurance that
the events, results or trends identified in these forward-looking
statements will occur or be achieved. Forward-looking statements
speak only as of the date they are made and are based on the
beliefs, estimates, expectations and opinions of management on that
date. Symbotic is not under any obligation, and expressly disclaims
any obligation to update, alter or otherwise revise any
forward-looking statement, whether as a result of new information,
future events or otherwise, except as required by law. Readers
should carefully review the statements set forth in the reports
that Symbotic has filed or will file from time to time with the
SEC.
INVESTOR RELATIONS CONTACT
Jeff EvansonVice President, Investor Relations & Corporate
DevelopmentSymboticir@symbotic.com
MEDIA CONTACT
Kimberly ZminkowskiDirector,
Marketingmediainquiry@symbotic.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/cc90695b-eb65-47ef-b519-e08f4d67075e
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