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David Hall Comments on the Election of Eric Singer to Velodyne Lidar’s Board of Directors Based on Preliminary Meeting Results

June 11, 2021 GMT

SAN JOSE, Calif.--(BUSINESS WIRE)--Jun 11, 2021--

David Hall, the largest holder of outstanding common stock of Velodyne Lidar, Inc. (NASDAQ:VLDR) (“Velodyne Lidar” or the “Company”), today commented on the preliminary results of the Company’s 2021 Annual Meeting of Stockholders (the “Annual Meeting”). Based on preliminary voting results provided by the inspector of elections, Eric Singer – Mr. Hall’s nominee – has been elected to Velodyne Lidar’s eight-member Board of Directors (the “Board”).

Mr. Hall commented:

“Marta and I are very pleased that stockholders have elected Eric to the Board at this critical point in time. He can bring sorely-needed accountability to the Board, which has demonstrated a fundamental disregard for stockholders’ interests in recent months. Eric is a highly-qualified director with significant experience helping broken tech companies improve their governance, operations and performance. He is an expert when it comes to corporate governance, capital allocation, operations optimization and strategic planning. While much more work is needed to fix the Company’s anti-stockholder culture, I believe Velodyne Lidar has the potential to return to its position at the forefront of lidar technology invention and innovation. Electing Eric is a step in the right direction.”

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Mr. Singer commented:

“I am grateful that stockholders, including a tech luminary such as David Hall, have placed their trust in me to help usher in a new era of improved governance at Velodyne Lidar. Now that the election contest is behind us, I am firmly committed to working collaboratively with my fellow directors to help the Company get on a path to delivering stockholder value. I believe we can restore a culture of accountability and true technological innovation at Velodyne Lidar.”

Final results of the Annual Meeting will be published by the Company once they are certified by the Company’s inspector of elections.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210611005465/en/

CONTACT: Profile

Charlotte Kiaie / Bela Kirpalani, 347-343-2999

ckiaie@profileadvisors.com/bkirpalani@profileadvisors.com

KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: ELECTRONIC DESIGN AUTOMATION PROFESSIONAL SERVICES ENGINEERING AUTOMOTIVE MANUFACTURING TECHNOLOGY MANUFACTURING FINANCE

SOURCE: David Hall, Founder of Velodyne Lidar

Copyright Business Wire 2021.

PUB: 06/11/2021 04:00 PM/DISC: 06/11/2021 04:02 PM

http://www.businesswire.com/news/home/20210611005465/en