Velodyne Lidar Discloses CEO Exit, Affirms FY21 Outlook

Velodyne Lidar, Inc VLDR CEO Dr. Anand Gopalan has informed the Board regarding his departure as the CEO and director, effective July 30.
The company did not disclose any reason for the departure.
The Board created an Office of the Chief Executive (OCE), comprising COO Jim Barnhart, CFO Drew Hamer, CPO Kathy McBeath, and CCO Sinclair Vass.
The Board has also retained an executive search firm to identify a successor.
Dr. Gopalan plans to continue in an advisory capacity following his departure.
Velodyne's previously disclosed 2021 revenue guidance between $77 million and $94 million versus an analyst consensus of $93.76 million remains unchanged. The business outlook also remains unchanged.
Velodyne will report Q2 financial results following the market close on Aug. 5.
Price action: VLDR shares traded lower by 4.74% at $8.65 in the premarket session on the last check Monday.