Sarcos Co-Founder and Former CEO Ben Wolff to Step Down as Executive Chair

Sarcos Technology and Robotics Corporation (“Sarcos”) (NASDAQ: STRC and STRCW), a leader in the design, development, and manufacture of advanced robotic systems that redefine human possibilities, announced today that after eight years of service to Sarcos, its Co-Founder and former CEO, Ben Wolff, will be stepping down from his employment as executive chairman effective February 1, 2023. He will continue to serve on the Sarcos Board of Directors as a non-employee director and chair the strategic transaction committee. Dennis Weibling, who has served as Lead Independent Director since 2021 and a member of the Board since 2015, has been elected as non-executive Chairman of the Board effective February 1, 2023.

“Since I transitioned into the executive chairman role a little more than a year ago, our Board and I agreed that the duration would be determined by how long the Company and our new CEO, Kiva Allgood, needed me in that role for a successful transition,” said Wolff. “I’m delighted to say that the transition has gone well, and the objectives have been met, so now is a perfect time for me to complete the transition and become a non-employee board member. The Company is in great hands, and I am as enthusiastic as ever about the Company’s ability to execute and scale.”

“More than eight years ago, Ben had the vision to reimagine the industrial workforce and started us on this journey to realize the Sarcos mission to improve worker safety and productivity through robotics,” said Allgood. “On behalf of the entire Sarcos team, I would like to thank Ben for his commitment to this vision and, on a personal note, for being a great partner since I joined the company in December of 2021.”

“I’m delighted to be elected by the Sarcos Board to serve as chairman, and I would like to thank Ben for all his contributions to the company over the years,” said Weibling. “As we turn to the next chapter, I am excited to continue to partner with Kiva to execute our growth strategy to deliver shareholder value. Sarcos is well-positioned with a new world-class team led by Kiva and three robotics systems for sale–the Guardian XT teleoperated dexterous robot, Guardian XM intelligent manipulator, and Guardian Sea Class robotic system. I expect 2023 to be a great year for the company.”