Neato Robotics Selects John Niedermaier As New CFO To Guide Company's Financial Performance

NEWARK, Calif., May 9, 2012 /PRNewswire/ -- Neato Robotics™, a Silicon Valley company that pioneers new technologies and products to free people from household chores, today announced the appointment of John Niedermaier as the company's new chief financial officer. Niedermaier, who reports to CEO Warren Flick, will manage the company's financing for growth, its banking relationships, the HR, IT and legal functions, and provide operational oversight of the organization's global performance. Neato Robotics now sells its laser-guided automatic vacuum cleaners in 19 countries and its sales are accelerating rapidly.

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Niedermaier, who most recently served as CFO for Tigo Energy, Inc., brings more than 30 years of experience as a senior executive in technology and service organizations to his new role at Neato Robotics. The company expects to triple the number of units it sells globally year-over-year. To accomplish sustainable growth, Neato Robotics plans to increase its workforce by more than 20 percent this year, including key senior hires across engineering, supply chain management, and sales and marketing.

"We have tremendous trajectory and potential to cross the chasm with our breakthrough robotic cleaning appliances that are true game changers," says Warren Flick, CEO of Neato Robotics, Inc. "John's breadth of experience with fast-growth companies, his deep expertise in leading corporate financial events and remarkable attitude makes him a perfect fit. Neato Robotics is growing at a rapid rate, and John will play a crucial role in overseeing the company's finances, monitoring performance against our business plan, and in building a winning team to support and sustain the momentum we're now experiencing in the marketplace."

Prior to his former role at Tigo Energy, Inc., Niedermaier served as executive vice president, COO and CFO of LGC Wireless, Inc., orchestrating LGC's sale to ADC Telecommunications in December 2007. He remained at ADC to lead the LGC Business Unit after the transaction.

Before joining LGC, John served in CFO roles at Jetstream Communications, Inc., a provider of voice-over-broadband solutions; and SCM Microsystems, Inc., a provider of smart card readers and digital media devices, that he took public in 1997. John's early career includes senior financial management positions at Octel Communications, VMX, Inc. and KPMG. He holds a Bachelor of Science degree in Business Administration from Wayne State University and is a certified public accountant.

About Neato Robotics
Based in Silicon Valley, Neato Robotics, Inc. is a venture-funded start-up that was founded on the idea that it's possible to create robots that are smart enough to perform household chores as intelligently and efficiently as a human. Neato Robotics is dedicated to improving consumers' lives, allowing them to spend less time cleaning and more time with their families and friends. The team of Neato engineers has squeezed innovation from commodity computing products – creating a smarter, more powerful robot vacuum cleaner than any previously seen on the market.

For more information, please visit www.neatorobotics.com.

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SOURCE Neato Robotics