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X-Rite Appoints New CFO

Friday, October 16, 2009

Press release from the issuing company

GRAND RAPIDS, Mich.-- X-Rite, Incorporatedtoday announced that Rajesh K. Shah will be joining the Company as Executive Vice President, Chief Financial Officer and Secretary. He will assume the role on October 19, 2009. In that position, he will oversee the Company's financial functions including accounting, financial planning and analysis, tax, treasury, compliance and investor relations. Mr. Shah will also be a member of the senior executive leadership team.

Mr. Shah is a seasoned senior financial executive including a broad-based capital markets background with significant financial and operations expertise. He has experience with both public and private organizations, working closely with corporate boards, private equity investors and existing leadership teams to build high performance cultures focused on key strategic priorities. Most recently, Mr. Shah has served as Executive Vice President and Chief Financial Officer of Cadence Innovation LLC, a global manufacturer of automotive interior systems. Prior to that, Mr. Shah served as Executive Vice President and Chief Financial Officer at Remy International, Inc., a manufacturer of automotive and commercial products from 2002 to 2006. Mr. Shah earned a Bachelor of Commerce degree from Bombay University and a Masters of Business Administration from Bowling Green University in Bowling Green, Ohio.

"Raj has a passion for simplifying complex businesses and successfully managing growth – critical elements to our long term global business strategy," commented Thomas J. Vacchiano Jr., our Chief Executive Officer. Mr. Vacchiano also remarked that "Raj's financial acumen and operational experience will be invaluable as we continue to navigate through uncertain economic times. We are pleased to have such an outstanding and accomplished executive joining our leadership team."

"X-Rite is an amazing company with vast potential, and I am honored to be assuming CFO responsibilities," commented Rajesh K. Shah. "I look forward to working with all members of the X-Rite organization as we focus on driving results and creating value for our shareholders."

 

 

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