(Regensdorf, Switzerland) -- Gretag-Macbeth Holding AG announced today that the Board of Directors has named Mr. Thomas J. Vacchiano, Jr., 48, GretagMacbeth's President and CEO, effective January 1, 2001. Mr. Vacchiano will succeed Mr. Ronald G. Anderson. Mr. Anderson will act as advisor to the Board of Directors until his retirement in May of 2001. Thereafter he will be a consultant to the company. "Tom Vacchiano is a natural leader, and ideally suited to lead GretagMacbeth for many years. He brings a consistent track record of delivering results, along with the strategic and technological vision needed to take GretagMacbeth forward. His broad experience serving global markets through multiple distribution channels is also very significant. We are all extremely excited to have Tom help move us forward," said Ron Anderson. Since 1997, Mr. Vacchiano has been President and CEO of Xerox Engineering Systems, a $450 million subsidiary of Xerox Corporation and part of Xerox New Enterprises. Xerox New Enterprises is the venture capital arm of Xerox Corporation. Xerox Engineering Systems develops, manufactures, markets and supports technical document solutions for the engineering, technical, scientific and graphic arts markets. Mr. Vacchiano began his career in 1977 with NCR Corporation, holding a series of leadership roles in finance, sales, marketing and general management. Mr. Vacchiano joined AT&T Corporation in 1993 as Vice President of Strategy and Business Development, and in 1994 was named Vice President of Worldwide Operations at Digital Equipment Corporation's Alpha Systems Group.