MEI - Methode Electronics Announces Planned CEO Retirement | Benzinga
CHICAGO, Aug. 31, 2023 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced today that Donald W. Duda, President and Chief Executive Officer, will retire from Methode. He will continue to lead the company until a successor has been named and will work with the new CEO through a transition period, which is expected to conclude during fiscal 2025.
Methode's Board of Directors, with the assistance of executive search firm Spencer Stuart, has already begun an external search process to identify Mr. Duda's successor. Mr. Duda has agreed to offer his resignation as a director as of the appointment of his successor.
Mr. Duda has been with Methode since 2000 and has served as CEO for the last 19 years. Under his leadership, Methode grew sales from $359 million in fiscal 2004 to $1.2 billion in fiscal 2023. The growth was driven both organically and with successful acquisitions such as Grakon and, most ...