Wilmington’s Symbotic Names Michael J. Loparco As Chief Executive Officer

Below is a press release from Symbotic, which is headquartered in Wilmington:

WILMINGTON, MA — Symbotic LLC, a revolutionary A.I.-enabled technology platform provider for the supply chain and a leader in robotics-based automation, names Michael J. Loparco as Chief Executive Officer. Rick Cohen will remain Chairman of the Board and President, and will focus on product development and customer engagement as Chief Product Officer.

“Symbotic has an exciting future. We are looking forward to becoming a public company listed on the Nasdaq. This expansive growth requires us to ensure that we have the right leader in place to take us to the next level.” said Rick Cohen, Chairman of the Board, President & Chief Product Officer.

Symbotic previously announced its entry into a business combination agreement with SVF Investment Corp. 3 (NASDAQ: SVFC), a special purpose acquisition company (SPAC), that is expected to make Symbotic a public company listed on the Nasdaq. In connection with the proposed business combination, SVF Investment Corp. 3 filed an amended registration statement on Form S-4 with the SEC on March 23, 2022, which includes a preliminary proxy statement and prospectus of SVF Investment Corp. 3.

“Michael has more than 20 years of industry experience and with his recent experience as Executive Vice President and CEO of Electronics Manufacturing Services of Jabil Inc., will be a valuable addition as we reinvent the warehouse for retailers and wholesalers. He is a highly regarded leader that has led through times of extensive change and growth with much success,” continued Cohen. “We are excited to welcome Michael to the Symbotic family and look forward to his leadership in our next phase of growth.”

About Symbotic

Symbotic LLC is a robotics and automation-based product movement technology platform provider focused on transforming the consumer goods supply chain. Symbotic has spent more than a decade perfecting its warehouse automation platform to disrupt the supply chain of goods between manufacturers and consumers. Symbotic’s unique platform, with more than 250 issued patents, is an end-to-end system that reimagines every aspect of the warehouse and is fueled by a unique combination of proprietary software and a fleet of fully autonomous robots. The system enhances storage density, increases available SKUs, reduces product damage and improves throughput and speed to customers. Symbotic is rapidly growing with a pipeline to build its transformative systems for Fortune 100 retailers and wholesalers in new and existing warehouses throughout the United States and Canada. For more information about Symbotic, visit https://www.symbotic.com.

MJL

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