MEI - Methode Electronics Appoints Avi Avula as New CEO | Benzinga
CHICAGO, Dec. 19, 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 Avi Avula has been appointed as Methode's new President and Chief Executive Officer (CEO), starting on January 29, 2024. Mr. Avula's appointment follows the previously announced retirement of Donald W. Duda, President and CEO.
Mr. Duda will work with Mr. Avula through a three-month transition period, after which Mr. Duda will serve as a strategic consultant for a nine-month period.
Mr. Avula will also be appointed as a director of Methode as of his start date, replacing Mr. Duda who intends to resign as of such date.
Mr. Avula brings 17 years of electronics industry leadership experience to Methode, and currently serves as the Vice President of Strategy for DuPont's Electronics & Industrial (E&I) business. In this role, Mr. Avula leads strategy, growth, new business development and global commercial excellence for E&I, which reported approximately $6 billion in 2022 revenue. Mr. Avula previously led the Interconnect Solutions line of business within E&I, where he was deeply involved in key strategic initiatives including the integration of DuPont Circuit and Packaging Materials and Dow Interconnect Technologies during the merger between Dow and DuPont.
Chairman Walter J. Aspatore said, "On behalf of Methode's Board of Directors, we are thrilled to welcome Avi to the Methode team. Avi's appointment follows a comprehensive search process to identify the right CEO to lead Methode forward. He is a proven executive having led large engineered-product businesses on a global basis that have grown both organically and through acquisition. His strategic, technical, and transformative manufacturing experiences will help drive Methode's innovation and growth initiatives and create value for shareholders."
Mr. Aspatore continued, "We thank Don for his outstanding contributions ...