Trimble Navigation Limited
935 Stewart Drive
Post Office Box 3642
Sunnyvale, CA 94085
Trimble Appoints Mary Ellen Genovese to Chief Financial Officer
SUNNYVALE, Calif., September 7, 2000 -- Trimble (Nasdaq: TRMB) announced today that Mary Ellen Genovese, 41, vice president of finance and corporate controller, has been promoted to chief financial officer, effective immediately. Ms. Genovese will continue to report directly to Steven W. Berglund, Trimble's president and chief executive officer, and will be responsible for all aspects of corporate finance.
"We are delighted that Mary Ellen has accepted the CFO position," stated Berglund. "She has played a critical leadership role in driving our cost reduction programs and was instrumental in negotiating our strategic acquisition of Spectra Precision Group, a laser and optical company which we purchased for $294 million. Over the past six months Mary Ellen has excelled as our acting chief financial officer, and we look forward to her ongoing participation as a key member of our newly formulated management team."
Ms. Genovese joined Trimble in December 1992 as controller of manufacturing operations. Since then, she has held several management positions within the Company, and was appointed vice president of finance in 1998. For the past six months, Ms. Genovese has served as acting chief financial officer, replacing John Zimmerman, who resigned to pursue other interests.
Prior to joining Trimble, Ms. Genovese was chief financial officer for Minton Co., a distribution company to the commercial building market. Previously, Ms. Genovese held several management positions within General Signal Corp., including the roles of European financial controller for the Semiconductor Equipment Group, director of finance, and unit financial officer for Semiconductor Systems.
Founded in 1978, Trimble is a recognized worldwide leader in the development of innovative Global Positioning System (GPS) technology-based products for a wide range of applications. Today, these advanced solutions combine GPS with wireless communications and sophisticated software to meet demanding applications in environments ranging from agriculture and construction to asset management, automotive and timing. Headquartered in Sunnyvale, Calif., Trimble provides end-users and OEMs with leading edge solutions backed by global leadership in patents, exceptional experience and a reputation for excellence.
With its acquisition of Spectra Precision, a leading provider of construction lasers, machine control systems, optical surveying instruments and related software, Trimble now broadens its portfolio of positioning solutions for the engineering and construction, and agriculture markets.