Velodyne Lidar welcomes Ernie Maddock to its Board of Directors

– USA, CA –  Velodyne Lidar, Inc. (NASDAQ: VLDR / VLDRW), today announced the appointment of Ernie Maddock to its Board of Directors, effective January 13, 2022.

“We are delighted to welcome a director of Ernie’s caliber and experience as we continue to strengthen our Board of Directors. Ernie brings an extensive background in public company operations, technology and corporate finance in industries that are highly relevant to Velodyne. A financial expert who has served as a public company CFO and on the audit committees of multiple companies, including as Chair of Ultra Clean and Intersil’s respective audit committees, we believe Ernie is the ideal person to serve as an independent director on our Board and Audit Committee. We look forward to benefitting from his valuable insights and collaborative nature as we work towards shaping Velodyne’s strategy, expanding our global footprint and driving long-term value for our shareholders,” said Board Chairman, Michael Dee.

Mr. Maddock has also joined the Audit Committee.

Dr. Ted Tewksbury, CEO added, “This is an important time for our company and I am thrilled to have the opportunity to engage with Ernie as we build out our capabilities and execute our mission. We are already making tremendous progress, having shipped 15,000 sensors over the last 12 months1 and, with this valuable addition to our Board, our momentum is only continuing to build. With the industry on the cusp of mass adoption, I look forward to working with Ernie and my colleagues on the Board as we set out to capture this rapidly expanding market opportunity.”

About Ernest E. Maddock

Mr. Maddock is an operation, technology, and corporate finance executive with over 35 years of leadership experience, including 10 as a public company CFO. From 2015-to 2018, he served as SVP and CFO of Micron Technology. Mr. Maddock has extensive board experience, having chaired the audit committee of two public companies. He currently serves on the boards of directors of Ultra Clean Holdings Inc., a leading developer, and supplier of critical subsystems, components, and parts for the semiconductor industry, and Avnet, Inc., a global leader of electronic components and services.

Before joining Micron in 2015, Mr. Maddock held leadership positions at multiple global companies, including Riverbed Technology, where he served as EVP and CFO and was additionally responsible for worldwide operations and information technology. Before Riverbed, he spent 15 years at Lam Research Corporation in roles of increasing responsibility across operations and finance, including as Group VP of Global Operations and EVP and CFO.

Mr. Maddock said, “Velodyne is the outright leader in this rapidly growing space thanks to its world-class engineering team, relentless focus on innovation, and cutting-edge offerings. I look forward to working closely with my colleagues on the Board and supporting our talented management team as they continue to develop and execute our strategy. Thanks to their work to date, Velodyne has exceptional momentum across the business and is ideally positioned to capture the significant growth opportunities that lie ahead.”

From 1997 to 2013, Mr. Maddock served in various roles at Lam Research Corporation, culminating in the position of CFO from 2008 to 2013. Mr. Maddock has served on the boards of directors of Ultra Clean Holdings Inc. (Nasdaq: UCTT) since June 2018 and Avnet (Nasdaq: AVT) since August 2021. Mr. Maddock previously served on the Board of Intersil Corporation (Nasdaq: ISIL) from 2015 until its acquisition in 2017. Mr. Maddock received a BS in Industrial Management from the Georgia Institute of Technology and an MBA with a specialization in Finance from Georgia State University.

About Velodyne Lidar

Velodyne Lidar ushered in a new era of autonomous technology with the invention of real-time surround view lidar sensors. Velodyne, the global leader in lidar, is known for its broad portfolio of breakthrough lidar technologies. Velodyne’s revolutionary sensor and software solutions provide flexibility, quality, and performance to meet the needs of a wide range of industries, including autonomous vehicles, advanced driver assistance systems, robotics, unmanned aerial vehicles, smart cities, and security. Through continuous innovation, Velodyne strives to transform lives and communities by advancing safer mobility for all.

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