Ouster Appoints Global Automotive Leader Karin Rådström to Board of Directors

Rhea-AI Summary

Ouster, Inc. (NYSE: OUST) appointed Karin Rådström to its Board of Directors, bringing over 15 years of automotive experience from Scania and Daimler Truck AG. Rådström’s expertise in sales and marketing will support Ouster in enhancing its competitive position in the automotive market. Currently the CEO of Mercedes-Benz Trucks, she aims to drive the adoption of digital lidar technology for both consumer and commercial applications. Ouster believes her appointment will solidify its standing in autonomous technology.

Positive

• Karin Rådström's extensive automotive experience may enhance Ouster's strategic positioning in the automotive sector.
• Her background in leading international sales and marketing could boost Ouster's market competitiveness.

Negative

• Potential concerns about continuity and experience gaps as new directors adapt to Ouster's culture.

Rådström brings over 15 years of commercial automotive experience at Scania and Daimler Truck AG

SAN FRANCISCO--(BUSINESS WIRE)--

Ouster, Inc. (NYSE: OUST) (“Ouster” or the “Company”), a leading provider of high-resolution digital lidar sensors for the industrial, automotive, smart infrastructure, and robotics industries, announced today the appointment of Karin Rådström to its Board of Directors. Rådström brings over 15 years of commercial automotive experience leading sales and marketing efforts at Scania and Daimler Trucks AG.

Karin Rådström, Board Director, Ouster (Photo: Business Wire)

Rådström has served as the CEO of Mercedes-Benz Trucks and a Member of the Board of Management at Daimler Truck AG since February 2021. Prior to joining Daimler Truck AG, she held several management roles at Scania Group where she most recently served as Executive Vice President and Head of Sales and Marketing. Rådström holds a Master of Engineering in Industrial Management from the Royal Institute of Technology in Stockholm.

“Ouster is solidifying its automotive expertise with the addition of Karin to our Board of Directors. I believe her experience leading international sales and marketing for two of the world’s largest commercial vehicle manufacturers will be a huge benefit to Ouster as we extend our competitive position within the automotive market,” said Ouster CEO Angus Pacala.

“I look forward to joining the Ouster Board and contributing my knowledge and expertise to support the Company in its mission to make the world safer and more efficient by bringing digital lidar to the mass market. The future of both the consumer and commercial automotive industry will be built on autonomy-enabling technology, and I’m thrilled to be driving this technology forward together with Ouster in my new role,” said Ouster Board Director, Karin Rådström.

For more information on Ouster’s Board of Directors, visit: https://investors.ouster.com/governance.

About Ouster

Ouster (NYSE: OUST) is a leading provider of high-resolution digital lidar sensors for the industrial, smart infrastructure, robotics, and automotive industries. Ouster products offer an excellent combination of price and performance and are built to a set of requirements that are flexible enough to span hundreds of use cases and enable revolutionary autonomy across industries. Ouster has approximately 600 customers in over 50 countries with offices in the Americas, Europe, Asia-Pacific and the Middle East. For more information, visit www.ouster.com, or connect with us on Twitter or LinkedIn.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding Ouster’s strategy and market positioning. Forward-looking statements give Ouster’s current expectations and projections relating to its financial condition, competitive position, future results of operations, plans, objectives, future orders and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including: Ouster’s limited operating history and history of losses; the negotiating power and product standards of its customers; fluctuations in its operating results; cancellation or postponement of contracts or unsuccessful implementations; the adoption of its products and the growth of the lidar market generally; its ability to grow its sales and marketing organization; substantial research and development costs needed to develop and commercialize new products; the competitive environment in which it operates; selection of its products for inclusion in target markets; its future capital needs; its ability to use tax attributes; its dependence on key third party suppliers, in particular Benchmark Electronics, Inc., and manufacturers; ability to maintain inventory and the risk of inventory write-downs; inaccurate forecasts of market growth; its ability to manage growth; the creditworthiness of customers; risks related to acquisitions; risks related to international operations; risks of product delivery problems or defects; costs associated with product warranties; its ability to maintain competitive average selling prices or high sales volumes or reduce product costs; conditions in its customers industries; its ability to recruit and retain key personnel; its use of professional employer organizations; its ability to adequately protect and enforce its intellectual property rights; its ability to effectively respond to evolving regulations and standards; risks related to operating as a public company; risks related to the COVID-19 pandemic; and other important factors discussed in the Company’s final prospectus dated August 19, 2021, and in other reports the Company files with or furnishes to the Securities and Exchange Commission. Any such forward-looking statements represent management’s estimates and beliefs as of the date of this press release. While Ouster may elect to update such forward-looking statements at some point in the future, other than as required by law, it disclaims any obligation to do so, even if subsequent events cause its views to change.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211013006057/en/

For Investors

Sarah Ewing

investors@ouster.io

For Media

Heather Shapiro

press@ouster.io

Source: Ouster, Inc.

FAQ

What experience does Karin Rådström bring to Ouster?

Karin Rådström brings over 15 years of commercial automotive experience, having held key roles at Scania and Daimler Truck AG.

What is Ouster's stock symbol?

Ouster trades under the stock symbol OUST on the NYSE.

How might Rådström's appointment impact Ouster?

Rådström's experience in sales and marketing could help strengthen Ouster's competitive position in the automotive market.

When was Karin Rådström appointed to Ouster's Board?

Karin Rådström was appointed to Ouster's Board of Directors as announced in the recent press release.

What is Ouster’s industry focus?

Ouster specializes in high-resolution digital lidar sensors for industries including automotive, industrial, robotics, and smart infrastructure.