Effective October 1, 2011, and in the context of implementing a functional management structure, Niraj Agarwal (born 1968) will be appointed Vice President of Marketing and Product Management and member of the Group Management. In addition, he will still be responsible for Datacolor’s new business development, which he has managed since 2010. Before joining Datacolor, a world leader in the manufacture of soft- and hardware systems for color management, communication and calibration, Mr. Agarwal held various management positions in international companies. Niraj Agarwal holds a doctorate in engineering from the University of Washington.
The implementation of the functional management structure and the ongoing optimization of the organization necessitate the transfer of certain functions from Switzerland to the euro and dollar areas (which account for a large share of Datacolor’s sales), as well as to China. Additional staff costs have arisen in fiscal 2010/11 due to the process of streamlining operational procedures. At the same time, the expansion of natural hedging is enabling Datacolor to reduce the impact of foreign exchange rates.
Lucerne, September 30, 2011