 X-Rite - Integration two companies
“X-Rite and its Board of Directors are pleased with the results under Mike’s leadership during the past five years” continued Utley. “His leadership in focusing the company back on the color business and bringing the two leading color solutions companies in the world together will create new and exciting opportunities for X-Rite, its customers and its shareholders in the future.” “The last five years with X-Rite have been the most rewarding and challenging in my professional career”, stated Michael C. Ferrara. “With the integration of the two companies firmly on track I am very optimistic about the future; under Tom’s leadership and the opportunity for increased shareholder value.”
X-Rite & Amazys - Technology companies
“Mike’s achievement in bringing X-Rite and Amazys together, along with his passion for focusing on customers, creates a legacy that will live on in the industry for many years”, said Thomas J. Vacchiano. “I look forward to building on the excellent foundation Mike has established.” “The X-Rite Board is delighted to have Tom Vacchiano as X-Rite’s new CEO”, stated Utley. “His extensive experience in technology companies together with his current track record of creating exceptional value for Amazys shareholders over the last several years is impressive. The Board believes that his vision and leadership are well aligned with the challenges of leading X-Rite to the next level of performance”. Tom and his family will be relocating to the Michigan area in early 2007 coinciding with the planned opening of X-Rite’s new world headquarters in Kentwood.
About X-Rite
X-Rite is a leading provider of color-measurement solutions, offering hardware, software and services for the verification and communication of color data. The Company serves a range of industries, including graphic arts, digital imaging, industrial color and appearance, retail color matching and medical. X-Rite serves customers in more than 100 countries from its 21 offices in Europe, Asia and the Americas.
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X-Rite & Amazys integrate : The Board of Directors of X-Rite, announced today the implementation of the planned CEO succession which was outlined at the time of the January announcement of the Amazys acquisition. Michael C. Ferrara will retire from his positions of CEO and Member of the Board and Thomas J. Vacchiano Jr. will become President and Chief Executive Officer as well as a Member of the Board of Directors. Tom Vacchiano was the President and Chief Executive Officer of Amazys Holding AG from January 2001 until the acquisition by X-Rite in July of this year. Mr. Ferrara will remain available to consult on the transition through the end of this year. The CEO transition was planned as a part of the Amazys acquisition.
