Ouster Forms Advisory Board of Industry Leaders to Accelerate Digital Lidar Adoption

Rhea-AI Summary

Ouster, Inc. (NYSE: OUST) has established an Advisory Board to enhance its strategic direction and relationships in the lidar industry. This Board comprises leading figures with extensive experience in Ouster's target markets, aiming to support the company's growth strategy and market positioning. The Board members include executives from Siemens, American Honda, and other notable firms, tasked with providing counsel and leveraging their networks. CEO Angus Pacala expresses confidence that the Advisory Board will bolster Ouster's capabilities to capture its multi-billion dollar addressable market.

Positive

• Formation of an Advisory Board with industry leaders to drive strategic growth.
• Access to extensive networks of experienced executives to enhance customer and partner relationships.
• CEO's confidence in leveraging the Advisory Board for capturing a multi-billion dollar market.

Negative

• None.

Ouster Advisory Board to provide strategic guidance and strengthen relationships with customers and partners across industries to drive growth

SAN FRANCISCO--(BUSINESS WIRE)-- Ouster, Inc. (NYSE: OUST) (“Ouster” or the “Company”), a leading provider of high-resolution digital lidar sensors for the automotive, industrial, smart infrastructure, and robotics industries, announced today the formation of an Advisory Board. The Advisory Board consists of industry leaders with deep knowledge and expertise across Ouster’s addressable markets and decades of experience building and leading global enterprises.

Founding members of the Ouster Advisory Board (Graphic: Business Wire)

The Ouster Advisory Board is engaged in support of Ouster’s mission to make the world safer through the adoption of digital lidar. Its members will provide strategic counsel to Ouster’s executive management as well as access to their networks to strengthen the Company’s relationships with key customers and partners. Founding Ouster Advisory Board members include:

• Barbara Humpton: Chief Executive Officer at Siemens USA and Board Director at MorganFranklin Consulting; former Vice President at Booz Allen Hamilton and Lockheed Martin.
• Henio Arcangeli, Jr.: former Senior Vice President of the Automobile Division at American Honda Motor Company, Inc. as well as President of the Motorsports Company at Yamaha Motor Corporation, USA; currently an Advisor at ICON Aircraft.
• Jim Cannon: President and Chief Executive Officer at AM General; former President and Chief Executive Officer at FLIR Systems as well as President at Stanley Black & Decker, Inc.
• Maryrose Sylvester: former President of Electrification at ABB USA as well as President and Chief Executive Officer at GE Current and GE Lighting; currently a Board Director at Harley-Davidson, Vontier, and Waste Management.
• Philipp von Hagen: Managing Partner at Future Industry Ventures; former Member of the Executive Board at Porsche Automobil Holding SE, the majority shareholder for Volkswagen Group.
• Richard Freeland: Former President and Chief Operating Officer at Cummins Inc.; currently an Advisor at Embark Trucks as well as a Board Director at Cooper & Standard and Valvoline.
• Sandy Stojkovski: Chief Executive Officer of North America at Vitesco Technologies; former President and General Manager of Powertrain North America at Marelli, Vice President of Global Engineering Excellence at ZF Group, and President at AVL.

“I am incredibly excited to work with our founding Advisory Board, and I am deeply appreciative of their commitment to Ouster as we aim to capture our multi-billion dollar TAM,” said Ouster CEO Angus Pacala. “Each member has deep expertise across one or more of our four target markets and a sincere desire to help us navigate and execute on our commercial strategy. I expect Ouster to benefit tremendously from their networks and their counsel over the coming years.”

For more information on the Ouster Advisory Board, visit: https://investors.ouster.com/governance.

About Ouster

Ouster (NYSE: OUST) is a leading provider of high-resolution digital lidar sensors for the industrial, automotive, smart infrastructure, and robotics 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/20211108006071/en/

For Investors

Sarah Ewing

investors@ouster.io

For Media

Heather Shapiro

press@ouster.io

Source: Ouster, Inc.

FAQ

What is the purpose of Ouster's newly formed Advisory Board?

The Advisory Board aims to provide strategic guidance and strengthen relationships with customers and partners to drive growth for Ouster.

Who are the founding members of Ouster's Advisory Board?

The founding members include industry experts from companies such as Siemens, American Honda, and FLIR Systems.

What markets is Ouster targeting with its Advisory Board?

Ouster is targeting the automotive, industrial, smart infrastructure, and robotics industries.

When was the Advisory Board for Ouster announced?

The formation of the Ouster Advisory Board was announced in a press release on November 8, 2021.

How does the Advisory Board benefit Ouster's CEO?

The Advisory Board provides CEO Angus Pacala with strategic advice and access to networks that can enhance Ouster's market position.