LIVERMORE, Calif. --(BUSINESS WIRE)--Feb. 1, 2006--Adept Technology, Inc.
(NASDAQ:ADEP), the leading provider of intelligent vision-guided robotics and global robotics services, today announced the election of Mike Kelly as Chairman of the Adept Board of Directors.Mike Kelly, currently the CEO of Kinsale Associates, LLC, a Silicon Valley merchant banking firm and previously the Vice Chairman of Broadview Jefferies, a leading middle market investment bank, has nearly 25 years of experience with high technology businesses, guiding their development and profitable growth into both Japan and emerging Asia markets." Mike has been a great board member and a valuable source of independent guidance for Adept since 1998," said Rob Bucher, CEO of Adept. "I joined Adept almost two years ago to lead a recovery of the Company and to position us for future growth.
With our recovery largely complete, including recent re-listing on the NASDAQ National Market, we now are focused on growth and creating a larger profile for Adept. In this context, having Mike replace me as Chairman of the Board distinct from my role as Chief Executive Officer and a director is appropriate from a corporate governance and operational perspective. We are especially fortunate to have someone like Mike available to us who also has great experience in global markets, especially Asian markets, and in growth through mergers and acquisitions -- two areas of importance to Adept going forward. I look forward to working with Mike and the rest of our Board of Directors in successfully embarking upon the next stage of our growth plans."
About Adept Technology, Inc. Adept Technology, Inc. designs, manufactures and markets robotic systems, motion control and machine vision technology for global markets including automotive, consumer electronics, consumer goods, disk drive, food, industrial tooling, medical devices, and pharmaceutical. Adept robots, controllers, and software are used for small parts assembly, material handling and packaging. Adept intelligent automation product lines include industrial robots, configurable linear modules, machine controllers for robot mechanisms and other flexible automation equipment, machine vision, and systems and applications software.
Founded in 1983, Adept Technology is the largest U.S. -based manufacturer of industrial robots.