Eric Mittelstadt, chairman and CEO of Fanuc Robotics North America Inc., has announced his retirement from the robotics maker, effective December 31.
Mittelstadt, 62, will be replaced as CEO by Rick Schneider, 42, who has been president and COO of the company since 1997. Schneider says he will continue many of the policies Mittelstadt put in place.
"Eric and I have worked closely together as a strong team to nurture our strategy of focusing on customer problems and solutions with the right products and applications in the robotics marketplace," says Schneider.
In 1997, Fanuc Robotics scored $370 million in sales, and Schneider says his plan is to reach $500 million by 2000, representing 5,000 robot unit sales.
Schneider says he's optimistic these goals can be achieved. "We will continue to take an aggressive stance because I think Fanuc Robotics is well-positioned for the future," he says.
Mittelstadt plans to remain a business advisor to the company, a unit of Fanuc Ltd. in Japan, and will hold the title of chairman emeritus. He will also represent the company through his participation in civic and professional organizations. -James F. Manji