The ExOne Company Announces Executive Leadership Changes
- Brian W. Smith elected Senior Vice President
- Douglas D. Zemba elected Chief Financial Officer and Treasurer
The ExOne Company (NASDAQ:XONE) (“ExOne” or “the Company”), a global provider of three-dimensional (“3D”)
printing machines and 3D printed and other products, materials and services to industrial customers, announced that it has elected
Brian W. Smith as Senior Vice President and Douglas D. Zemba as Chief Financial Officer and Treasurer.
S. Kent Rockwell, ExOne’s Chairman and Chief Executive Officer, stated, “Given the breadth of Brian’s leadership experience, as
well as the knowledge he gained of ExOne and our industry from being our CFO and Treasurer for the past four years, we are pleased
to promote him to Senior Vice President. In his new Corporate Development role, Brian will provide vital input into strategic
decisions to grow and restructure our business. A critical near-term responsibility is for him to lead our resource allocation
initiative in accordance with the global cost realignment program that we recently announced. This restructuring and cost reduction
initiative is currently underway.”
He added, “Doug has demonstrated his financial acumen within our organization in his capacity as Chief Accounting Officer and
Assistant Treasurer for over five years. Brian and Doug are proven contributors to our leadership team and I look forward to
continuing to work with both of them in their new roles.”
Mr. Zemba served as ExOne’s Chief Accounting Officer and Assistant Treasurer since March 2013, with responsibility for the
Company’s global accounting and financial reporting. He joined ExOne in January 2013 as Director of Finance, shortly before the
Company’s initial public offering in February 2013. Previously, Mr. Zemba was a Senior Manager in the Assurance practice of
PricewaterhouseCoopers LLP.
About ExOne
ExOne is a global provider of 3D printing machines and 3D printed and other products, materials and services to industrial
customers. ExOne's business primarily consists of manufacturing and selling 3D printing machines and printing products to
specification for its customers using its installed base of 3D printing machines. ExOne’s machines serve direct and indirect
applications. Direct printing produces a component; indirect printing makes a tool to produce a component. ExOne offers
pre-production collaboration and print products for customers through its network of ExOne Adoption Centers (EACs) and Production
Service Centers (PSCs). ExOne also supplies the associated materials, including consumables and replacement parts, and other
services, including training and technical support that is necessary for purchasers of its 3D printing machines to print products.
The Company believes that its ability to print in a variety of industrial materials, as well as its industry-leading volumetric
output (as measured by build box size and printing speed) uniquely position ExOne to serve the needs of industrial customers.
Safe Harbor Regarding Forward Looking Statements
This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act
with respect to the Company’s future financial or business performance, strategies, or expectations. Forward-looking statements
typically are identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,”
“expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,”
“sustain,” “seek,” “achieve,” as well as similar expressions, or future or conditional verbs such as “will,” “would,” “should,”
“could” and “may.”
The Company cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which
change over time. Forward-looking statements speak only as of the date they are made and the Company assumes no duty to and does
not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in
forward-looking statements and future results could differ materially from historical performance.
In addition to risk factors previously disclosed in the Company’s reports and those identified elsewhere in its Annual Report
on Form 10-K, the following factors, among others, could cause results to differ materially from forward-looking statements or
historical performance: the Company’s ability to generate operating profits; the results of the global cost realignment initiative,
fluctuations in the Company’s revenues and operating results; the Company’s competitive environment and its competitive position;
ExOne’s ability to enhance its current three-dimensional (“3D”) printing machines and technology and develop new 3D printing
machines; the Company’s ability to qualify more industrial materials in which it can print; demand for ExOne’s products; the
availability of skilled personnel; the impact of loss of key management; the impact of market conditions and other factors on the
carrying value of long-lived assets; the Company’s ability to continue as a going concern; the impact of customer specific terms in
machine sale agreements on the period in which the Company recognizes revenue; risks related to global operations including effects
of foreign currency; the adequacy of sources of liquidity; the scope, sufficiency of funds for required capital expenditures,
working capital, and debt service; dependency on certain critical suppliers; nature or impact of alliances and strategic
investments; reliance on critical information technology systems; the effect of litigation, contingencies and warranty claims;
liabilities under laws and regulations protecting the environment; the impact of governmental laws and regulations; operating
hazards, war, terrorism and cancellation or unavailability of insurance coverage; the impact of disruption of the Company’s
manufacturing facilities, production service centers (“PSCs”) or ExOne Adoption Centers (“EACs”); the adequacy of ExOne’s
protection of its intellectual property; and expectations regarding demand for the Company’s industrial products, operating
revenues, operating and maintenance expenses, insurance expenses and deductibles, interest expenses, debt levels, and other matters
with regard to outlook.
These and other important factors, including those discussed in the Company’s Annual Report on Form 10-K, may cause the
Company’s actual results of operations to differ materially from any future results of operations expressed or implied by the
forward-looking statements contained therein. Before making a decision to purchase ExOne common stock, you should carefully
consider all of the factors identified in its Annual Report on Form 10-K that could cause actual results to differ from these
forward-looking statements.
For more information:
The ExOne Company
Brian Smith, 724-765-1350
Senior Vice President
brian.smith@exone.com
or
Kei Advisors LLC
Deborah K. Pawlowski / Karen L. Howard
716-843-3908 / 716-843-3942
dpawlowski@keiadvisors.com / khoward@keiadvisors.com
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