ExOne (XONE) Announces Management Changes; Appoints New CEO; Rockwell Will Transition to Exec Chair

August 19, 2016 8:06 AM EDT

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The ExOne Company (Nasdaq: XONE) announced that its Board of Directors has approved a new management structure effective immediately. James L. (“Jim”) McCarley has joined the Company as Chief Executive Officer and S. Kent Rockwell, previously Chairman of the Board and Chief Executive Officer, is transitioning to Executive Chairman of the Board of Directors. In his new role, Mr. Rockwell will continue to lead the Company’s strategic planning and execution.

S. Kent Rockwell stated, “Our Board is committed to continuing our mission to bring binder jetting to the industrial production floor. We are pleased to add Jim as CEO, bringing his extensive experience in both operations and sales, particularly on the direct metals side of our business where we are strategically focused over the next several years. This is the perfect time to add Jim to our leadership team, having just finished a record second quarter and first half of 2016. His role as CEO is a critical component of our succession plan and will broaden and strengthen our management team, as I move to Executive Chairman and focus more on strategy.”

Mr. McCarley, age 52, formerly served as Executive Vice President—Operations of RTI International Metals, Inc., a producer and global supplier of titanium mill products and a supplier of fabricated titanium and specialty metal components, from May 2010 until July 2015, when Alcoa Inc. acquired RTI by merger. Mr. McCarley also served in the same position during the transition period after the merger, through September 2015. During his time at RTI, Mr. McCarley was its highest ranking operating officer, overseeing daily operations, asset and cash management, talent recruitment/retention, customer care, and growth strategy deployment. Mr. McCarley had previously served as the Chief Executive Officer of General Vortex Energy, Inc., a private developer of engine and combustion technologies, from September 2009 to May 2010. From 1996 through 2009, Mr. McCarley held a variety of management positions within the forging segment of Precision Castparts Company, including Division President of Wyman Gordon Forging West from 2008 to 2009, and Vice President and General Manager of Wyman Gordon Forging, Inc. from 2006 to 2008. From 1987 to 1996, he gained engineering and other relevant experience working for various companies, including Quantum Chemical, Cameron Iron Works, and General Electric Company. Mr. McCarley received a BS in Electrical Engineering from Texas Tech University in 1987.

Lloyd Semple, Lead Independent Director of ExOne’s Board of Directors, commented, “As one of ExOne’s founders and its largest stockholder, Kent Rockwell has led and funded the Company from its early development stages through its 2013 IPO, applying his entrepreneurial approach in introducing our binder jetting technology to the world of industrial manufacturing. The entire Board is extremely grateful to Kent for his outstanding leadership and continued commitment to ExOne. We are appreciative of the thoughtful and strategic succession planning process that resulted in today’s announcement. We look forward to Kent’s continued active and ongoing strategic leadership of ExOne in his new role as Executive Chairman.”

ExOne also announced that President Hans Sack will be retiring at the end of August. Kent Rockwell commented, “We are thankful to Hans for his contributions to the Company, particularly with respect to his focus on global operations. We wish Hans the very best as he retires from ExOne to pursue other interests.”

For more information regarding ExOne's operations, visit the Company's website at www.exone.com.

Webcast and Conference Call

ExOne will host a conference call and live webcast on Monday, August 22 at 10:00 a.m. Eastern Time. During the conference call and webcast, management will discuss these leadership changes. A question-and-answer session will follow. The teleconference can be accessed by calling (201) 689-8470. The webcast can be monitored on the Company’s website at www.investor.exone.com/.

A telephonic replay of the conference call will be available from 1:00 p.m. ET on the day of the teleconference through Monday, August 29, 2016. To listen to a replay of the call, dial (858) 384-5517 and enter the conference ID number 13644062, or access the webcast replay via the Company’s website, where a transcript will also be posted once available.

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