FARO announces CEO transition plan

Beginning March 2006, the company's CEO duties will be shared by Raab and Jay Freeland, president and COO, allowing Raab to focus on research and development and strategic initiatives.

The company also announced that Barbara R. Smith has been named CFO. Smith, a 23-year veteran of Alcoa Inc., takes over CFO duties from co-founder Greg Fraser, who will remain as executive vice president of the company.