National Instruments Announces Addition of Two Independent Directors to the NI Board

Business Wire 29-Jan-2019 4:10 PM

NI (NASDAQ:NATI), a leader in software-defined automated test and automated measurement systems, today announced that Jim Cashman, Chairman of ANSYS, Inc., and Liam Griffin, Chief Executive Officer and President of Skyworks Solutions, Inc., have been appointed to the NI Board of Directors effective March 1, 2019.

"We are excited to welcome Jim and Liam to the board," said Alex Davern, NI Chief Executive Officer. "Their proven leadership and deep knowledge of the key markets we serve will help guide us as we continue to address more of our customers' system needs and accelerate our vision to be the leader in software defined automated test and automated measurement systems. I look forward to collaborating with them as we continue to focus on delivering value to our customers while driving growth and profitability in 2019 and beyond."

"Jim and Liam are both very experienced leaders that bring a long-term view to value creation and deep knowledge of the industries that we serve," said Michael McGrath, Chairman of NI. "They are also experienced Board members and we look forward to working with them to help continue NI's long-term track record of success."

Since 2017, Cashman has served as the Chairman of ANSYS Inc., an engineering simulation software company. Prior to that, he served as CEO of ANSYS for 17 years. During his tenure, Cashman led the company to deliver a 15X increase in revenue from $63 million in 1999 to $988 million in 2016 and today the company is a market leader in computer-aided engineering software. Cashman's insight into technology trends, deep technical knowledge and collaborative nature makes him a strong addition to the NI Board. Cashman studied mechanical engineering at the University of Cincinnati in Cincinnati, OH where he also received his MBA.

"I am honored to be joining the NI Board. The company's focus on innovation and consistent investment in R&D has developed a highly differentiated software-defined platform that serves as a critical tool to the success of their customers in key markets," said James Cashman, Chairman of ANSYS, Inc. "The company's long-term track record is inspiring, and I look forward to sharing my experiences as we continue on this path of success."

Since 2016, Griffin has served as President and Chief Executive Officer of Skyworks Solutions, a producer of analog semiconductors. Prior to this he held several positions at Skyworks Solutions, including Executive Vice President and General Manager, Executive Vice President of the High-Performance Analog Group, and Senior Vice President of Sales and Marketing. During his tenure at Skyworks Solutions, he played a crucial role in growing revenue from $400M in 2001 to over $3B today. Griffin brings a strong global perspective and experience as a key architect of Skyworks' strategy to cement its leadership position in mobile communications. Griffin studied mechanical engineering at the University of Massachusetts Amherst and received his MBA from Boston University.

"NI has long been a disruptor in the test and measurement industry. The company's focus on the long-term has led to consistent results and enabled them to be at the forefront of technology innovation," said Liam Griffin, Chief Executive Officer and President of Skyworks Solutions, Inc. "The strong NI brand and the value customers see in their platform is clear, as is their strategy for growth across an expanding set of end markets. I look forward to joining the NI Board and helping to continue the long track record of success."

Forward-Looking Statements

This release contains "forward-looking statements" including statements regarding our vision, driving growth and profitability in 2019 and beyond and the experience and expected contributions of the new board members. These statements are subject to a number of risks and uncertainties, including the risk of adverse changes or fluctuations in the global economy, foreign exchange fluctuations, fluctuations in demand for NI products including orders from NI's large customers, component shortages, delays in the release of new products, the company's ability to effectively manage its operating expenses, manufacturing inefficiencies and the level of capacity utilization, the impact of any recent or future acquisitions by NI, expense overruns, adverse effects of price changes or effective tax rates or the impact of the Tax Cuts and Jobs Act of 2017. Actual results may differ materially from the expected results. The company directs readers to its Form 10-K for the year ended Dec. 31, 2017, its Form 10-Q for the quarter ended September 30, 2018 and the other documents it files with the SEC for other risks associated with the company's future performance.

About NI

NI (www.ni.com) empowers engineers and scientists with a software-centric platform that incorporates modular hardware and an expansive ecosystem. This proven approach puts users firmly in control of defining what they need to accelerate their system design within test, measurement and control. NI's solution helps build high-performance systems that exceed requirements, quickly adapt to change and ultimately improve the world. (NATI-F)

National Instruments, NI and ni.com are trademarks of National Instruments. Other product and company names listed are trademarks or trade names of their respective companies.

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