| Westford,
Massachusetts -- April 11, 2000 -- GenRad, Inc.
(NYSE: GEN) today announced its Board of Directors has
elected Robert M. Dutkowsky, Chairman of the Board, President
and Chief Executive Officer of GenRad, effective immediately.
Mr. Dutkowsky succeeds James F. Lyons.
Dutkowsky Background
Mr. Dutkowsky, 45, joins GenRad from EMC Corporation
(NYSE: EMC) where he was President of Data General,
a $1 billion independent division that delivers centralized
and simplified computing solutions to its customers.
EMC is the world's leading provider of enterprise storage
systems, software and services.
Mr. Dutkowsky joined EMC in 1997 as executive vice
president, markets and channels for EMC, responsible
for a worldwide sales organization that delivered nine
consecutive quarters of record revenue and profit growth.
During his tenure EMC grew its software business from
$175 million to more than $800 million. He was also
instrumental in the creation of EMC's worldwide marketing
and advertising campaign based on "The EMC Effect,"
which documented and promoted the powerful impact of
EMC Enterprise Storage.
He was also responsible for EMC's global marketing,
enterprise alliances, customer service, and professional
services organizations.
Prior to EMC, Mr. Dutkowsky held several senior level
positions at IBM, including vice president of worldwide
sales and marketing for IBM's RS/6000 business. He managed
a multi-billion dollar revenue stream and the acclaimed
IBM marketing campaign highlighting the chess match
between world champion Garry Kasparov and Deep Blue,
an IBM RS/6000.
"We are all very gratified to have attracted someone
with Bob's top-tier marketing expertise and operating
background," said Bill Scheerer, a member of GenRad's
Board and head of the board's search committee. "With
his customer focus and vision, Bob is ideally suited
to lead the GenRad team, and turn our vision of becoming
a truly customer-driven technology company into reality."
"GenRad is clearly positioned for growth. It has
a blue-chip customer base, solid technology, a deep
and talented work force, and strong operations. The
opportunity to focus these superior attributes into
a world-class customer-driven organization is one I
welcome," said Mr. Dutkowsky.
Lyons Departure
"Jim Lyons played a critical role at a critical
time for our company, and we all appreciate the efforts
he made in leading GenRad into profitability and setting
an industry-defining strategic direction." said
Mr. Scheerer.
In order to ensure a smooth and orderly transition,
Mr. Lyons will remain with the company in a consulting
capacity. The company said that any charges associated
with the change of leadership would be incurred in the
second quarter.
Conference Call Today
The company will hold an investor conference call
today (Tuesday, April 11) at 9:00 AM EDT.
GenRad Background
GenRad, Inc. provides electronics OEMs and their customers
with the hardware, software and services to increase
productivity by optimizing product design, manufacturing
and after-market service. GenRad, headquartered in Westford,
MA, offers products and services through three business
units: Advanced Diagnostic Solutions (ADS), Electronic
Manufacturing Solutions (EMS), and GR Software (GRS).
GenRad's web site address is http://www.genrad.com.
GenRad’s most current shareholder information
is available by visiting our Website at http://www.genrad.com
or calling our Fax on Demand Service at (800) 469-1261.
Statements made in this press release which are not
historical, including statements regarding future performance,
product capabilities and markets are forward looking
statements and as such are subject to a number of risks.
Factors that may cause results to differ materially
from those projected are discussed in GenRad’s
1998 Annual Report on Form 10-K for the fiscal year.
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