NEWS RELEASE
NEWS RELEASE
NEWS RELEASE
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<strong>NEWS</strong> <strong>RELEASE</strong><br />
FOR IMMEDIATE <strong>RELEASE</strong><br />
Contacts: Corporate Communications:<br />
Frank Stefanik<br />
+1-314-725-4616<br />
fstefanik@gores.com<br />
Press Relations:<br />
Scott Brendel<br />
+1-408-286-9899<br />
sbrendel@stephenz.com<br />
CRAIG WITSOE JOINS ELO TOUCH SOLUTIONS<br />
AS CHIEF EXECUTIVE OFFICER<br />
-- Proven leader to drive next generation of growth in<br />
touch-enabled computing, commerce and communications --<br />
MENLO PARK, Calif. – Sept. 24, 2012 – Elo Touch Solutions, a Gores Group company and premier global supplier<br />
of touch-enabled technology, announced today the appointment of Craig A. Witsoe as Chief Executive Officer.<br />
Witsoe is a proven business leader who has driven growth, profitability, and customer satisfaction in various CEO<br />
and other executive positions across multiple global industries.<br />
Prior to joining Elo, Witsoe was the president and CEO of Lineage Power, a Gores Group company and global<br />
provider of DC power conversion solutions for mobile internet and cloud computing infrastructure in the telecom<br />
industry. Witsoe led a turnaround of the business with sustained profitable growth and industry-leading new product<br />
introductions. The company was acquired by GE Energy in 2011 and is now known as GE Power Electronics.<br />
Previously, Witsoe served as president and chief executive officer of Abound Solar, a manufacturer of thin film solar<br />
panels; and Tyden Group, a leading producer of lasers for product identification and cargo security technology. Prior<br />
to this, Witsoe spent 15 years as an executive at General Electric, where he served as president and general<br />
manager of the GE Specialty Film and Sheet business headquartered in the Netherlands. Under his leadership, GE<br />
Specialty Film and Sheet launched multiple innovative technology platforms which delivered double digit growth in<br />
LCD display films and high heat electronics films. Witsoe also served as president of GE Lighting & Appliances<br />
Asia-Pacific, based in Shanghai, China, achieving GE’s first profitable operations in all countries by streamlining<br />
operations and introducing multiple new product, technology, and branding initiatives.
“We are delighted to have Craig join the Elo team and believe that his customer focus, strong technology<br />
background, and business acumen will be a catalyst for our future success,” said Jonathan Huberman, chairman of<br />
Elo’s board of directors. “Craig’s enthusiasm and energy combined with his ability to motivate high performance<br />
teams, strategic sense, and operations rigor will help take Elo to the next level as a market leader in touch solutions<br />
technology,” continued Huberman.<br />
“I am very excited to join the Elo team and partner with the Gores Group again,” stated Witsoe. “Elo’s solid<br />
reputation for high quality and innovative products with strong customer service provides a great foundation from<br />
which to build even more capabilities for our customers. I look forward to working with the talented and dedicated<br />
Elo employees to expand our market leadership.”<br />
Witsoe earned his master’s degree in business administration and engineering management from Northwestern<br />
University’s Kellogg School of Management. He received his bachelor’s degree in mechanical engineering from the<br />
University of Illinois, Champaign-Urbana. Witsoe will be relocating with his family to Silicon Valley.<br />
About Elo Touch Solutions<br />
Elo Touch Solutions is a leading global supplier of touch-enabled products and solutions. The Elo portfolio<br />
encompasses the broadest selection of touchscreen components, touch monitors, and all-in-one touch computers<br />
for the demanding requirements of diverse markets and applications, including gaming machines, hospitality<br />
systems, industrial automation, interactive kiosks, medical devices, office equipment, point of sale terminals, retail<br />
display, and transportation dashboard applications. Since Elo founders pioneered the touchscreen over 40 years<br />
ago, Elo touchscreens have consistently delivered one common, powerful result - advanced computer technology<br />
simplified through touch. For more information, visit www.elotouch.com.<br />
About The Gores Group LLC<br />
The Gores Group, LLC is a global investment firm focused on acquiring controlling interests in mature and growing<br />
businesses which can benefit from the firm's operating experience and flexible capital base. The firm combines the<br />
operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a<br />
traditional financial buyer. The Gores Group, which was founded in 1987 by Alec E. Gores, has become a leading<br />
investor having demonstrated over time a reliable track record of creating substantial value in its portfolio companies<br />
alongside management. Headquartered in Los Angeles, the Gores Group maintains offices in Boulder, CO, and<br />
London. For more information, please visit www.gores.com.<br />
Elo, the Elo logo, and Elo Touch Solutions are trademarks of Elo and its affiliates.<br />
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