EFI Announces CFO Transition as David Reeder Resigns, Marc Olin to Serve as Interim CFO
FREMONT, CA—December 23, 2014—Electronics For Imaging, a world leader in customer-focused digital printing innovation, has announced that David Reeder, in order to relocate closer to his family, submitted his resignation as CFO and accepted the position of CFO of Lexmark International. David will remain with EFI through Jan. 9, 2015, to ensure a smooth transition.
The company intends to appoint Marc Olin, currently COO, as interim CFO in addition to his current responsibilities. Marc previously served as interim CFO of EFI from September 2013 through January 2014. Prior to joining EFI, Marc was CEO and co-founder of Printcafe Software, a public company EFI acquired in 2003 as part of its growth strategy.
"We understand David's personal reasons for leaving EFI, appreciate his contributions during his time with the company and wish him well in his new endeavor," said EFI CEO Guy Gecht. "We have an outstanding veteran finance team and with Marc coming back to the interim CFO role, this transition will not slow us as we continue to execute on our strategy and capitalize on the significant opportunities in front of us."
Reeder commented: "It was a very difficult decision for me to leave EFI, as I have great confidence in the company's successful track record and the opportunities ahead. While my family interests come first, I remain a believer in EFI's strategy and a shareholder."
EFI (Nasdaq:EFII) is a worldwide provider of products, technology and services leading the transformation of analog to digital imaging. Based in Silicon Valley, with offices around the globe, the company's powerful integrated product portfolio includes digital front-end servers; superwide, wide-format, label and ceramic inkjet presses and inks; production workflow, Web-to-print and business automation software; and office, enterprise and mobile cloud solutions. These products allow users to produce, communicate and share information in an easy and effective way and enable businesses to increase their profits, productivity and efficiency.