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X-Rite Announces New President, Emphasis on Growing Top-Line Revenue

Wednesday, June 27, 2001

Press release from the issuing company

GRANDVILLE, Mich.--June 26, 2001--X-Rite, Incorporated, a leading global provider of technology enabling solutions that measure color, light and shape, today announced its appointment of Michael C. Ferrara as president and chief operating officer. Rich Cook, X-Rite's current president and CEO, will retain his position as CEO. As CEO Cook will continue to lead the company with direct responsibility over corporate strategy and business and product development. Ferrara will oversee X-Rite's day-to-day operations, maintaining a focus on sales growth, profitability, market expansion and customer service. "Mike comes to us with strong domestic and international business development and marketing experience,'' said Rich Cook, CEO of X-Rite, Incorporated. "His well-developed analytical, interpersonal and organization skills are ideally suited for X-Rite as we capitalize on the many opportunities associated with our recent business initiatives.'' Ferrara, (57) has a background that includes working with Fortune 500 companies developing global business strategies, as well as worldwide profit/loss reporting responsibilities. Most recently, he served as the CEO of Marine Optical Group, a worldwide design and marketing company in the eyewear business. During his tenure, he led the organization to profitable double-digit revenue growth and established the company as a global leader in its markets. Previously, Ferrara served as the CEO of N.I. World Trade, an international marketing and distribution company. He also held several top management positions over a 19 year time span at Westinghouse Electric Corporation in general management, sales and marketing. Ferrara has a BS in Electrical Engineering from Villanova University in Philadelphia, Pennsylvania. "X-Rite's wealth of proprietary technology expertise enables its customers to generate quality, competitive products across global markets,'' said Ferrara. "The company's innovative spirit is energizing and will benefit from my hard work and leadership. I look forward to the challenges and rewards that lay ahead.'' Ferrara will be relocating from Boston to the Grand Rapids area. The company anticipates that he will start his duties at X-Rite early in July 2001.




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