HOD HASHARON, Israel, Dec. 9, 2024
/PRNewswire/ -- Valens Semiconductor (NYSE: VLN), a leader in
high-performance connectivity, today announced it has appointed
Gili Friedman as Senior Vice
President and the Company's Head of the newly formed Cross Industry
Business Unit effective February 16,
2025.
"We are thrilled to welcome Gili
Friedman as the Head of our newly formed Cross Industry
Business Unit, which encompasses all the non-automotive verticals
we serve including audio-video, industrial, machine vision, and
medical markets," said Gideon
Ben-Zvi, Chief Executive Officer of Valens Semiconductor.
"Gili brings more than 17 years of experience leading sales and
business development departments at leading global companies in the
semiconductor industry. While heading the global sales teams at
both Sony Semiconductor Israel and Altair, she established a proven
track record of driving impressive revenue growth in existing and
new markets."
"Gili's multi-disciplinary approach, which integrates customer
engagement, sales strategy, marketing and project lifecycle
management, along with her deep expertise in semiconductor
technology, sets her apart. We are excited Gili is joining the
Valens team and expect she will make an immediate and lasting
impact on our organization."
Friedman is currently Vice President of Sales and Business
Development at Sony Semiconductor Israel, formerly Altair
Semiconductor. She quickly moved into leadership roles at Altair
after joining the company as a software engineer progressing from
Program Management to Global Business Management before ultimately
serving as VP of Sales and Business Development.
"I am delighted to be joining Valens Semiconductor to lead its
next phase of growth," said Friedman. "The opportunity in the
audio-video, industrial, machine vision, and medical verticals is
vast with a total addressable market of over $1 billion. I look forward to leveraging Valens'
standard setting, high-performance connectivity solutions to
accelerate market share growth and drive progress towards our 2029
financial goals."
About Valens Semiconductor
Valens Semiconductor (NYSE:VLN) is a leader in high-performance
connectivity, enabling customers to transform the digital
experiences of people worldwide. Valens' chipsets are integrated
into countless devices from leading customers, powering
state-of-the-art audio-video installations, next-generation
videoconferencing, and enabling the evolution of ADAS and
autonomous driving. Pushing the boundaries of connectivity, Valens
sets the standard everywhere it operates, and its technology forms
the basis for the leading industry standards such as
HDBaseT® and MIPI A-PHY. For more information, visit
https://www.valens.com/.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"estimate," "plan," "project," "forecast," "intend," "will,"
"expect," "anticipate," "believe," "seek," "target" or other
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
forward-looking statements include, but are not limited to,
statements regarding our financial goals for 2029 and potential
acquisition opportunities. These statements are based on various
assumptions, whether or not identified in this press release, and
on the current expectations of Valens Semiconductor's ("Valens")
management and are not predictions of actual performance. These
forward-looking statements are provided for illustrative purposes
only and are not intended to serve as and must not be relied on by
any investor as a guarantee, an assurance, a prediction or a
definitive statement of fact or probability. Actual events and
circumstances are difficult or impossible to predict and will
differ from assumptions. Many actual events and circumstances are
beyond the control of Valens Semiconductor. These forward-looking
statements are subject to a number of risks and uncertainties,
including the cyclicality of the semiconductor industry; the effect
of inflation and a rising interest rate environment on our
customers and industry; the ability of our customers to absorb
inventory; competition in the semiconductor industry, and the
failure to introduce new technologies and products in a timely
manner to compete successfully against competitors; if Valens fails
to adjust its supply chain volume due to changing market conditions
or fails to estimate its customers' demand; disruptions in
relationships with any one of Valens' key customers; any difficulty
selling Valens' products if customers do not design its products
into their product offerings; Valens' dependence on winning
selection processes; even if Valens succeeds in winning selection
processes for its products, Valens may not generate timely or
sufficient net sales or margins from those wins; sustained yield
problems or other delays or quality events in the manufacturing
process of products; our ability to effectively manage, invest in,
grow, and retain our sales force, research and development
capabilities, marketing team and other key personnel; our ability
to timely adjust product prices to customers following price
increase by the supply chain; our ability to adjust our inventory
level due to reduction in demand due to inventory buffers accrued
by customers; our expectations regarding the outcome of any future
litigation in which we are named as a party; our ability to
adequately protect and defend our intellectual property and other
proprietary rights; our ability to successfully integrate or
otherwise achieve anticipated benefits from acquired businesses;
the market price and trading volume of the Valens ordinary shares
may be volatile and could decline significantly; political,
economic, governmental and tax consequences associated with our
incorporation and location in Israel; and those factors discussed in Valens'
Form 20-F filed with the SEC on February 28,
2024 under the heading "Risk Factors," and other documents
of Valens filed, or to be filed, with the SEC. If any of these
risks materialize or our assumptions prove incorrect, actual
results could differ materially from the results implied by these
forward-looking statements. There may be additional risks that
Valens does not presently know or that Valens currently believes
are immaterial that could also cause actual results to differ from
those contained in the forward-looking statements. In addition,
forward-looking statements reflect Valens' expectations, plans or
forecasts of future events and views as of the date of this press
release. Valens anticipates that subsequent events and developments
may cause Valens' assessments to change. However, while Valens may
elect to update these forward-looking statements at some point in
the future, Valens specifically disclaims any obligation to do so.
These forward-looking statements should not be relied upon as
representing Valens' assessment as of any date subsequent to the
date of this press release. Accordingly, undue reliance should not
be placed upon the forward-looking statements.
Press Contacts
Yoni Dayan
Head of Communications
Valens Semiconductor Ltd.
Yoni.dayan@valens.com
Pat Burek
Senior Vice President
Financial Profiles, Inc.
pburek@finprofiles.com
Investor Contacts:
Michal Ben Ari
Investor Relations Manager
Valens Semiconductor Ltd.
Michal.Benari@valens.com
Lisa Fortuna
Senior Vice President
Financial Profiles, Inc.
ValensIR@finprofiles.com
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