COGNEX ANNOUNCES RESIGNATION OF CHIEF FINANCIAL OFFICER

Rhea-AI Summary

Cognex Corporation (NASDAQ: CGNX) announced the resignation of Paul Todgham, Senior Vice President, Finance and Chief Financial Officer, effective March 15, 2024. Mr. Todgham will continue to serve in the role of CFO until March 15, 2024, and will remain available to the company on a consulting basis after that time. Cognex is conducting a search process to identify a new CFO.

NATICK, Mass., Jan. 3, 2024 /PRNewswire/ -- Cognex Corporation (NASDAQ: CGNX), a leading provider of machine vision for factory automation, today announced that Paul Todgham has resigned from his position as Senior Vice President, Finance and Chief Financial Officer effective March 15, 2024.  Mr. Todgham will continue to serve in the role of CFO until March 15, 2024, and will remain available to the company on a consulting basis after that time.

"Paul has been a valued member of our executive team over these past four years," said Rob Willett, Cognex's President and Chief Executive Officer. "Paul has made significant contributions to Cognex's success, including the enhancement of Cognex's planning and budgeting process, as well as overseeing investments in Cognex's CRM platform. We wish him the very best in his future endeavors."

"I am proud of what we have accomplished and honored to have worked with such a talented and dedicated team," commented Paul Todgham. "It has been a privilege to be part of Cognex's journey, and I look forward to the company's continued success."

Cognex is conducting a search process to identify a new CFO.

About Cognex Corporation

Cognex Corporation invents and commercializes technologies that address some of the most critical manufacturing and distribution challenges. We are a leading global provider of machine vision products and solutions that improve efficiency and quality in high-growth-potential businesses across attractive industrial end markets. Our solutions blend physical products and software to capture and analyze visual information, allowing for the automation of manufacturing and distribution tasks for customers worldwide. Machine vision products are used to automate the manufacturing or distribution and tracking of discrete items, such as mobile phones, electric vehicle batteries and e-commerce packages, by locating, identifying, inspecting, and measuring them. Machine vision is important for applications in which human vision is inadequate to meet requirements for size, accuracy, or speed, or in instances where substantial cost savings or quality improvements are maintained.

Cognex is a world leader in the machine vision industry, having shipped more than 4 million image-based products, representing over $10 billion in cumulative revenue, since the company's founding in 1981. Headquartered in Natick, Massachusetts, USA, Cognex has offices and distributors located throughout the Americas, Europe, and Asia. For details, visit Cognex online at www.cognex.com.

Nathan McCurren
Head of Investor Relations
Cognex Corporation
ir@cognex.com

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SOURCE Cognex Corporation

FAQ

Who resigned from Cognex Corporation?

Paul Todgham, Senior Vice President, Finance and Chief Financial Officer.

When will Paul Todgham's resignation be effective?

Paul Todgham's resignation will be effective on March 15, 2024.

Is Cognex Corporation looking for a new CFO?

Yes, Cognex Corporation is conducting a search process to identify a new CFO.