Velodyne Lidar CEO To Step Down; Reiterates Revenue Guidance

(RTTNews) - Velodyne Lidar, Inc. (VLDR, VLDRW), a lidar technologies company, on Monday announced that its CEO, Dr. Anand Gopalan is stepping down effective July 30, and will move to advisory role. The company said it is on the look out for Dr. Anand Gopalan's replacement.

Velodyne also kept its outlook intact by reiterating its 2021 revenue guidance to be between $77 million and $94 million.

The company has also announced that its Board has created an Office of the Chief Executive (OCE) comprising members of Velodyne's senior leadership team to execute the Company's growth strategy. The committee would comprise Jim Barnhart, the Chief Operating Officer, Drew Hamer, the Chief Financial Officer, Kathy McBeath, the Chief People Officer and Sinclair Vass, the Chief Commercial Officer.

The second quarter financial results are scheduled to be released following the close of the market on Thursday, August 5.

The shares of Velodyne Lidar are currently trading in pre-market at $8.74, down $0.34 or 3.74 percent from the previous close.