Gerber Scientific, Inc. Announces Organizational Changes
TOLLAND, Conn., March 30, 2011 /PRNewswire/ -- Gerber Scientific, Inc. (NYSE: GRB) today reported that John Hancock, President of Gerber Technology, will be leaving the company, effective April 30, 2011. Marc Giles, Gerber Scientific, Inc. President and CEO will assume leadership responsibilities for the Gerber Technology ("GT") business segment.
"We thank John for his many contributions to Gerber Technology and the key role he played in driving GT's growth strategy over the past few years. We wish him well in his new endeavors," said President and CEO, Marc Giles.
Giles also announced that as part of the company's transformation plan, Gregg Williams has joined the company in the newly created position of Vice President of Marketing, Product Management and Service. Gregg has a solid background in marketing, sales and service with a strong focus on identifying and capitalizing on customer and market needs.
"We continue to make progress in our overall business model transformation and our growth plans for GT are a critical component of that strategy," said Giles. "This flattening of our organizational structure while increasing our sales and marketing bench strength will allow us to be more nimble and responsive to market opportunities in the Apparel and Industrial Segment."Giles concluded, "We are continuing to focus on further optimizing our business portfolio and operating model while reducing our cost structure and accelerating new product development. We are also committed to achieving our financial performance target of 8+% annual sales growth and double-digit operating margins by fiscal 2013." About Gerber Scientific, Inc. Gerber Scientific, Inc. ( http://www.gerberscientific.com) is a leading international supplier of sophisticated automated manufacturing systems for the sign making, specialty graphics, packaging, apparel and industrial industries. Headquartered in Tolland, Connecticut, the Company operates through three primary businesses: Gerber Scientific Products, Spandex and Gerber Technology. Forward-looking Statements Any statements in this news release not relating to historical matters are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The forward-looking statements contained in this news release involve risks and uncertainties regarding the Company's expected financial condition, results of operations and cash flows. For information identifying other important economic, political, regulatory, legal, technological, competitive and other uncertainties, readers are referred to the Company's filings with the Securities and Exchange Commission, including but not limited to, the information included in Gerber Scientific's Annual Report on Form 10-K for the fiscal year ended April 30, 2010, which outlines certain important risks regarding the Company's forward-looking statements, as well as information included in subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. These risks include, but are not limited to, delays in the Company's new product development and commercialization, intense competition in markets for each of the Company's operating segments, rapid technological advances, availability and cost of raw materials, adverse economic and credit market conditions, volatility in foreign currency exchange rates and fluctuations in interest rates. Actual future results or events may differ materially from these forward-looking statements. The forward-looking statements contained in this release are made as of the date of this release and the Company expressly disclaims any obligation to update any of these forward-looking statements, except as required by law. SOURCE Gerber Scientific, Inc.
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