Sarcos Technology and Robotics Corporation Appoints the Honorable James “Hondo” Geurts Executive Vice Chairman

Rhea-AI Summary

Sarcos Technology and Robotics Corporation (NASDAQ: STRC and STRCW) has appointed James "Hondo" Geurts as Executive Vice Chairman. Geurts, with over 34 years of military and government experience, will drive leadership development, scale operations, and focus on acquisition opportunities as the company prepares to launch its Guardian XO and Guardian XT robotic systems. His previous roles include Under Secretary of the Navy and Acquisition Executive for U.S. Special Operations Command. Geurts emphasizes innovation and efficiency in bringing technologies to market, aligning with Sarcos' mission to enhance productivity and safety.

Positive

• Appointment of James Geurts as Executive Vice Chairman brings extensive leadership experience.
• Geurts aims to enhance leadership development and operational scaling.
• Focus on commercial launch of innovative robotics products is expected to drive growth.

Negative

• Potential continuity concerns due to management change.
• Geurts’ government background may raise questions about private sector adaptability.

Geurts brings decades of leadership experience and a history of successfully working with both private enterprise and government entities to assist Sarcos in scaling its industrial robotics business

He has served in both Republican and Democratic Administrations, most recently performing the duties of the Under Secretary of the Navy after successfully serving as the Assistant Secretary of the Navy for Research, Development, and Acquisition and as the Acquisition Executive for the U.S. Special Operations Command

SALT LAKE CITY, Oct. 14, 2021 (GLOBE NEWSWIRE) -- Sarcos Technology and Robotics Corporation (“Sarcos”) (NASDAQ: STRC and STRCW), a leader in the development of robotic systems that augment humans to enhance productivity and safety, today announced that it has appointed the Honorable James “Hondo” Geurts as the company’s Executive Vice Chairman, effective immediately. Geurts retired from his role performing the duties of the Under Secretary of the Navy for the Biden administration in August after serving more than 34 years in various military and government positions.

In his role as Sarcos Executive Vice Chairman, Geurts will be responsible for working with the Sarcos executive team to foster leadership development, identify and evaluate acquisition opportunities, scale its operations as it prepares to commercially launch its award-winning Guardian^® XO^® full-body, battery-powered industrial exoskeleton and the Guardian^® XT^® teleoperated dexterous mobile robotic avatar system, and to refine its efforts to meet the needs of the defense industry.

Prior to performing the duties of Under Secretary of the Navy, Geurts was the Assistant Secretary of the Navy for Research, Development, and Acquisition under the Trump administration. Geurts also previously served in the U.S. Special Operations Command (USSOCOM) as the Acquisition Executive and Director of SOF Acquisition, Technology, and Logistics. He was also the driving force for ThunderDrone and SOFWERX, the military-civilian incubators behind the Tactical Assault Light Operator Suit (TALOS) robotic exoskeleton project. Geurts was commissioned as a U.S. Air Force Officer in 1987.

“I am honored and look forward to serving in the role of Executive Vice Chairman for Sarcos,” said Geurts. “Given my experience with bringing innovative new technologies to the field, and doing so with speed, cost-effectiveness, and quality in focus, I believe I am well-positioned to help Sarcos scale its business as the company brings its robotics technologies to market for both the commercial and military sectors. It is a thrilling time to be part of Sarcos given its recent public listing and the resources that it provides, as well as the impending commercialization of its award-winning products.”

“First and foremost, Hondo is one of the greatest leaders I have ever met,” said Ben Wolff, chairman and CEO, Sarcos. “He has demonstrated throughout his career an ability to identify and capitalize on opportunities others simply don’t see. His focus on identifying, fielding, and scaling innovative solutions translates perfectly to our work in the development and deployment of our industrial robotic systems. We are thrilled to have him join our leadership team at a critical inflection point in our history, and I expect him to have an immediate positive impact on our business.”

For more information on Sarcos, its leadership team, and its award-winning product portfolio, please visit www.sarcos.com.

About Sarcos Technology and Robotics Corporation

Sarcos Technology and Robotics Corporation (NASDAQ: STRC and STRCW) is a leader in industrial robotic systems that augment human performance by combining human intelligence, instinct, and judgment with the strength, endurance, and precision of machines to enhance employee safety and productivity. Leveraging more than 30 years of research and development, Sarcos’ mobile robotic systems, including the Guardian^® S, Guardian^® GT, Guardian^® XO^®, and Guardian^® XT™, are designed to revolutionize the future of work wherever physically demanding work is done. Sarcos is based in Salt Lake City, Utah. For more information, please visit www.sarcos.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, Sarcos’ product roadmap, including the expected timing of commercialization or new product releases, Sarcos’ plans to expand its product availability and Sarcos’ use of capital, including Sarcos’ ability to accomplish the initiatives outlined above. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. These statements may be preceded by, followed by, or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates,” “intends” or “continue” or similar expressions. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These forward-looking statements are based on Sarcos’ management’s current expectations and beliefs, as well as a number of assumptions concerning future events. However, there can be no assurance that the events, results, or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and Sarcos is not under any obligation and expressly disclaims any obligation, to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law. Readers should carefully review the statements set forth in the reports, which Sarcos has filed or will file from time to time with the SEC. In addition to factors previously disclosed in Sarcos’ reports filed with the SEC and those identified in this press release, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: Sarcos’ ability to execute on its business strategy, address supply chain disruptions, launch its products within expected timelines, develop new products and services and enhance existing products and services; ability to respond rapidly to emerging technology trends; ability to compete effectively, recruit and retain qualified personnel and manage growth and costs; and other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Sarcos’ definitive proxy statement filed with the SEC on August 6, 2021 and other documents of Sarcos filed, or to be filed, with SEC. The documents filed by Sarcos with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov.

Press Contact:
Sarcos
Ben Mimmack
(801) 419-0438
pr@sarcos.com
ir@sarcos.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/de194609-771d-4709-97e3-c55dfe2936be

FAQ

What is the significance of James Geurts' appointment to Sarcos?

James Geurts' appointment is significant due to his extensive experience in military and government roles, which can enhance Sarcos' strategic direction and operational scaling.

How will Geurts impact Sarcos' robotics commercialization?

Geurts is expected to drive leadership development and operational scaling, facilitating the commercialization of Sarcos' Guardian XO and XT robotic systems.

What background does James Geurts have?

James Geurts has over 34 years of military and government service and previously served as Under Secretary of the Navy.

When was James Geurts appointed as Executive Vice Chairman of Sarcos?

James Geurts was appointed as Executive Vice Chairman of Sarcos on October 14, 2021.