Trimble Navigation Limited
935 Stewart Drive
Post Office Box 3642
Sunnyvale, CA 94085
SUNNYVALE, Calif., Aug. 24, 1999 -- Trimble (NASDAQ:TRMB) announced today that John C. Zimmerman, 52, has joined the company as senior vice president of finance and chief financial officer.
Mr. Zimmerman brings more than 25 years of financial expertise to the company. He has a diverse corporate financial background including General Electric, Intel, Caterpillar and a number of other technology-based companies.
"We are very pleased to have John on board. He is energetic and has been a vital part of successful companies," commented Steven W. Berglund, Trimble's president and CEO. "His background is diverse and he brings to Trimble an exceptional skill set in finance, strategic planning, and mergers and acquisitions. John will help us establish a new standard for the company's performance and be an active voice in the financial community to communicate the Trimble story."
Berglund added, "We would like to thank Mary Ellen Genovese for her contributions as interim chief financial officer. Her efforts have lead to significant cost reductions that have improved financial performance in the first half of 1999. She will continue in her present role as vice president of finance and corporate controller."
Most recently, Mr. Zimmerman joins Trimble from GET Manufacturing, where he served as chief financial officer. At GET, he successfully aided in guiding the implementation of a merger and acquisition strategy, assisted in two factory start-ups in Calif. and Mexico, and contributed to increasing sales by 70% in one year.
During his tenure at Level One Communications, Mr. Zimmerman served as chief financial officer and vice president of finance and administration. While at Level One, he played a significant role in the completion of the company's initial public offering, completed a secondary public offering, and built the finance and administrative organizations. He also spearheaded several successful acquisitions and manufacturing relationships.
Prior to Level One Communications, he served as chief financial officer of IC Works, now a division of Cypress Semiconductor.
At Intel Corporation, Mr. Zimmerman held a variety of senior-level financial management positions from 1984 to 1992, including controller for the semiconductor products group, controller for the components manufacturing and technology group, and director of finance and administration at Intel Japan. Prior to Intel, Zimmerman served as corporate controller for Solar Turbines Incorporated, a subsidiary of Caterpillar Tractor Company. He completed the $500 million acquisition of Solar Turbines Incorporated by CAT.
Mr. Zimmerman began his career in the highly respected financial management training program at General Electric Company in Fairfield, Conn. in 1969. He held a series of progressively more responsible positions at the company including manager of finance for GE's commercial aircraft engines division. In 1980, he joined Solar Turbines Incorporated.
Mr. Zimmerman received a BA in economics from Ohio University and an MBA from Xavier University in Cincinnati, Ohio.
Trimble is a world leader in designing and developing innovative products enabled by GPS technology. The company provides end-user and OEM solutions for diverse applications including surveying, mapping/GIS, agriculture, construction, mining, military, commercial aviation, automotive, vehicle tracking and timing. Founded in 1978, Trimble now holds more than 200 U.S. patents on GPS and related technology, with over 180 additional patents pending. Located in Sunnyvale, Calif., Trimble has been adding value to GPS since 1984.
Investor Relations Contact: Investor Relations of Trimble: 408-481-6914
Media Contact: LeaAnn McNabb of Trimble: 408-481-7808