As a pioneer in the "
"We are excited to welcome
Mr. Bell said, "iRobot has the leading in-home robot market position and a unique platform to take advantage of the rapidly evolving market for connected devices. I am excited to help iRobot further develop and differentiate its product offering to benefit both customers and shareholders. This is an exciting time for iRobot, and I am pleased to join the team."
Ms. Ellinger added, "On behalf of the entire Board, we want to thank George for his leadership and insights, and wish George well in his retirement."
Corporate Governance Enhancements
In addition, iRobot announced the following corporate governance enhancements:
- Declassification of the Board: iRobot will seek shareholder approval at the Annual Meeting to declassify its Board of Directors.
- Adoption of Proxy Access for Shareholders: iRobot has amended its bylaws to provide proxy access for eligible iRobot shareholders. iRobot's bylaws now allow holders of at least three percent of iRobot's stock who have held the shares for at least three years to include nominees for iRobot's Board of Directors in the Company's proxy materials.
- Elimination of Supermajority Voting Requirements: iRobot will seek shareholder approval at the Annual Meeting to eliminate supermajority voting requirements in its governing documents relating to removal of directors and amendments to iRobot's certificate of incorporation and bylaws.
- Codification of Lead Independent Director: iRobot has amended its bylaws to codify that a Lead Independent Director will be appointed when the Company's CEO is also its Chairman. iRobot has had a Lead Independent Director since its 2005 IPO.
About
iRobot designs and builds robots that empower people to do more. The company's home robots help people find smarter ways to clean and accomplish more in their daily lives. Its remote presence robots enable virtual presence from anywhere in the world. iRobot's portfolio of solutions feature proprietary technologies for the connected home and advanced concepts in navigation, mobility, manipulation and artificial intelligence. For more information about iRobot, please visit www.irobot.com.
For iRobot Investors
Certain statements made in this press release that are not based on historical information are forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. This press release contains express or implied forward-looking statements relating to
Important Stockholder Information
INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT SOLICITATION MATERIALS WHEN THEY BECOME AVAILABLE BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION.
The proxy statement and other relevant solicitation materials (when they become available), and any and all documents filed by the Company with the
Certain Information Concerning Participants
The Company and its directors and officers and other persons may be deemed to be participants in the solicitation of proxies from the Company's stockholders in connection with the 2016 Annual Meeting. Information about the Company's directors and executive officers and their ownership of the Company's common stock will be set forth in the definitive proxy statement for the Company's 2016 Annual Meeting, which will be filed with the
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SOURCE
Elise Caffrey, Investor Relations, iRobot Corp., (781) 430-3003, ecaffrey@irobot.com; Scott Winter / Jennifer Shotwell, Investor Relations, Innisfree M&A Incorporated, (212) 750-5833; Charlie Vaida, Media Relations, iRobot Corp., (781) 430-3182, cvaida@irobot.com; Andi Rose / Becky McClain, Media Relations, Joele Frank, (212) 355-4449