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Metrologic Names Darius Adamczyk As New Chief Executive Officer
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Blackwood, New Jersey – March 26, 2007 – Metrologic Instruments, Inc., announced today its board of directors has named Darius Adamczyk to succeed company founder C. Harry Knowles as CEO of one of the world’s leading developers of data capture and collection devices. The former Ingersoll Rand executive assumes his new role immediately.
“In Darius, we have chosen someone who has the vision to continue our growth and the sensibilities necessary to maintain strong relationships with the employees, business partners and customers who have made Metrologic an industry leader,” said Mr. Knowles, who has been serving as the company’s interim CEO since July 2006. “During his career, Darius has demonstrated an exceptional talent for getting new products into the market sooner by streamlining their development cycle, and we are excited about the impact he is going to have at Metrologic.”
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Mr. Adamczyk will also be elected to Metrologic’s board of directors where he will join Mr. Knowles, who stepped down as chairman in January after the company was purchased by an investor group led by Francisco Partners, which is located in Menlo Park, CA. Metrologic’s board of directors also includes principals of Francisco Partners and Elliott Associates, an investment firm who partnered with Francisco to acquire the company.
“I’m looking forward to continuing Metrologic’s tradition of dynamic growth,” said Mr. Adamczyk. “Because of its commitment to innovative technology, this company has a bright future.”
Mr. Adamczyk arrives at Metrologic after a successful tenure at Ingersoll Rand, a leading diversified industrial company providing products and services to a broad range of industries. After joining Ingersoll Rand in 1999, Mr. Adamczyk rose quickly through its executive ranks before being named president of the company’s Air Solutions Group in 2005.
From 1995-1999, Mr. Adamczyk served as a senior associate at Booz Allen Hamilton, a global strategy and technology consulting firm. There he helped various Fortune 500 companies develop and implement strategies for growth, marketing and operational excellence. Mr. Adamczyk began his professional career as an electrical engineer at General Electric in 1988.
Mr. Adamczyk’s educational background includes a MBA from Harvard University, a master’s degree in computer engineering from Syracuse University and a bachelor’s degree in electrical and computer engineering from Michigan State University.
“We believe Darius is going to have an immediate impact on the company,” said David ibnAle, a partner at Francisco Partners and a director of Metrologic. “He has already proven himself to be a very capable leader and executive, and we are very pleased to have him on board.”
Metrologic recruited Mr. Adamczyk through the efforts of Korn Ferry International, a leading executive recruitment firm, which conducted a national search to fill the CEO role.
Forward Looking Statements
Forward-looking statements contained in this release are highly dependent upon a variety of important factors which could cause actual results to differ materially from those reflected in such forward looking statements. Specifically, the factors that could cause actual results to differ from expectations include: the timing, introduction and market acceptance of Metrologic's new products; foreign currency fluctuations with the US dollar; pricing pressures; competitive factors; sales cycles of Metrologic's products; Metrologic's ability to control manufacturing and operating costs as well as product and revenue mix which affect future profitability; the effect of current and pending legislation on Metrologic’s effective annual tax rate; technological changes in the data capture industry, including the adoption of imaging-based and RFID technologies; availability of patent protection for Metrologic's vision-based technologies, and other products; the results of litigation; general economic conditions; and the potential impact of terrorism, international hostilities and natural disasters. When used in this release and documents referenced, the words "believes", "expects", "may", "should", "seeks", or "anticipates", and similar expressions as they relate to Metrologic or its management are intended to identify such forward-looking statements. We undertake no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise. For additional factors, please see Metrologic's reports filed with the Securities and Exchange Commission.
For more information contact:
Corporate Headquarters
Metrologic Instruments, Inc.
Cory Laslocky
Tel 856.228.8100 x5828
c.laslocky@metrologic.com
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