AEye, Inc. (NASDAQ: LIDR), a global leader in adaptive, high-performance lidar solutions, today announced the promotion of Dr. T.R. Ramachandran to the position of chief operating officer for the company. Ramachandran, who joined AEye in November 2021 as chief product officer, has been instrumental in AEye’s efforts to commercialize and industrialize the Company’s products for scale, leveraging his more than two decades of experience delivering complex, market-leading solutions to large global customers.
“Over the past year, T.R. has demonstrated an ability to move the company from the prototype stage to product commercialization,” said Blair LaCorte, CEO of AEye. “T.R. has an innate ability and the experience to address and solve all of the issues associated with bringing a complex product to market.”
The company also announced today that Blair LaCorte, the CEO of AEye, has decided to transition to a more focused role for the company and informed the board of directors he will be resigning as CEO effective as of February 28, 2023. LaCorte will remain on the company’s board of directors and concentrate on ensuring continuity in leadership and working to form new and enhance existing strategic partnerships between the company and its stakeholders.
“The company has made significant progress since it went public more than a year ago in August of 2021,” said LaCorte. “In the third quarter, we released our award-winning adaptive software platform and launched a production-intent B sample with our lead automotive customer, Continental, for the Automotive market, as well as our 4Sight™ product for Industrial, as well as Aerospace and Defense, with pilot programs in multiple markets. In addition, we announced the on-schedule transfer to manufacturing lines with partners to enable scale production in 2023.”
“I want to thank Blair for his seven years of service to AEye and for the leadership and dedication he has demonstrated over that time, bringing the company from the start-up stage through the transition to a public company in 2021,” said Carol DiBattiste, chair of the AEye board of directors. “Blair’s stewardship of the company over this time is laudable, which was demonstrated by his ability to assemble a talented and world-class team of leaders; we are confident of a smooth transition in leadership as the company moves into commercialization of its award-winning product.”
“Blair has been instrumental in the strategic growth of AEye. His capacity to manage our burgeoning enterprise through the public company transition as well as guide our progression forward made him the right man for the job,” said Luis Dussan, founder & CTO. “His new role will allow him to build important strategic partnerships and ensure our goals are achieved as we enter the next phase of our development.”
“No one could have been a better mentor to me. Blair’s business acumen and people skills have created an environment where I could grow as a senior manager and member of our executive team. I’m so excited that Blair will continue to be a driving force for AEye,” said Jordan Greene, co-founder & GM of Automotive.
The Company has launched a search for a successor to fill the role of CEO. Both internal and external candidates are under consideration. The search will be led by Timothy J. Dunn, the chair of the company’s audit and compensation committees, and assisted by members of management, including Dussan and Greene.
To ensure a smooth leadership transition, LaCorte has formed the Office of the Chief Executive Officer, which he will chair through the end of February. In addition to LaCorte, members of the Office of the Chief Executive Officer will be Robert A. Brown, the company’s chief financial officer, Andrew S. Hughes, the company’s general counsel, and T.R. Ramachandran, the company’s chief operating officer.
“Bob, Andrew, and T.R. have each been actively involved in the significant strategic decisions for the company since they joined AEye,” said Blair LaCorte, CEO of AEye. “With the Office of the Chief Executive Officer in place, the transition to a new CEO will be seamless and allow the company to continue on its path to commercialization of its products designed to make transportation safer for all, without interruption.”
