AutoStore Holdings Ltd – Rotation and appointment of board members
(Nedre Vats, 21 April 2022): AutoStore Holdings Ltd (AutoStore, OSE:AUTO) Board member Sam Merksamer has informed the board of directors of AutoStore that he rotates off from the company's board of directors with effect from April 20th. Further, Softbank has decided to appoint Sumer Juneja and Vikas Parekh as new members of the board of directors with effect from April 20th. Vikas Parekh will be replacing Sam Merksamer as co-chair of the board. Moreover, Thomas H. Lee Partners has decided to appoint Edzard Overbeek as new member of the board of directors with effect from April 20th, replacing Magnus Tornling who stepped down in September 2022. The co-chair of the board of directors, Jim Carlisle, thanks Sam for his valuable contributions to the board, and welcomes the new appointments, respectively. The board of directors will continue to constitute a quorum after the announced rotation and appointments.
Vikas Parekh
Managing Partner Americas, SoftBank Investment Advisers
Vikas Parekh is a Managing Partner at SoftBank Investment Advisers where he focuses on investing in enterprise software and emerging technologies. Vikas has made investments and holds director seats across public and private markets. Prior to joining SoftBank in 2016, Vikas worked in private equity at KKR and at Boston Consulting Group. Vikas holds an M.B.A. from Harvard Business School, an M.S. in Electrical and Computer Engineering and B.S. in Electrical Engineering from Georgia Institute of Technology.
Sumer Juneja
Managing Partner, Head of EMEA & India Investing, SoftBank Investment Advisers
Sumer is Managing Partner and Head of EMEA & India at SoftBank Investment Advisers. He joined SoftBank in 2018 to set up its local investing presence in India; he has since expanded his role globally to lead EMEA as well. Sumer has invested in growth stage tech companies across multiple sectors including logistics, e-commerce, SaaS and edtech. He serves on several boards, such as Rimac and Contentsquare in Europe and Swiggy, Lenskart, and Eruditus in India. Sumer has been an investor since 2006. Prior to SoftBank, he was a Partner at Norwest Venture Partners and before that, Sumer was a member of Goldman Sachs' Asian Special Situations Group. Sumer obtained his Bachelor of Science degree in politics and economics from the London School of Economics.
Edzard Overbeek
CEO, HERE Technologies
From HERE Technologies, the US-Dutch technology firm for mapping, location-data, -software and -services together with over 30 years in the ICT industry, Edzard brings an extensive experience in the global digital, communication, software and technology sectors. Prior to joining HERE, he held several (senior) management roles at Cisco, including leading the Global Services organization as well as being President of the Asia- Pacific, Japan & China region. Overbeek holds a Master´s Degree, Business and Administration, Finance and Economics from the University of Bradford, UK.
For further information, please contact: Hiva Flåskjer, VP Investor Relations, AutoStore AS Telephone: +47 958 66 790 I hiva.flaskjer@autostoresystem.com
About AutoStore
AutoStore, founded in 1996, is a technology company that develops order -fulfillment solutions to help businesses achieve efficiency gains within the storage and retrieval of goods. The company offers both hardware and software capabilities and the AutoStore technology is interoperable with other third -party solutions. AutoStore is global, with +1,150 Systems in 49 countries. All sales are distributed, designed, installed, and serviced by a network of qualified system integrators referred to as "partners". AutoStore was founded in Nedre Vats, in the west coast of Norway. The company has offices in Norway, the U.S., UK, Germany, France, Spain, Italy, Austria, South Korea, Japan, Australia, and Singapore, as well as a facility in Poland.
For more information about AutoStore, please visit www.autostoresystem.com