MEI - Methode Electronics Appoints Jon DeGaynor as President and CEO | Benzinga
Methode Electronics to Announce Fourth Quarter Fiscal 2024 Results on Thursday, July 11, 2024
Seasoned CEO Brings Deep Experience in Engineered Products and Track Record of Driving Successful Strategic Transformation
CHICAGO, June 25, 2024 (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 Jon DeGaynor has been appointed President, Chief Executive Officer (CEO) and a member of the Board of Directors, effective July 15, 2024. Mr. DeGaynor succeeds Kevin Nystrom, a partner and managing director at AlixPartners LLP, who has served as interim CEO since May 7, 2024.
With a 35-year career in engineered-products businesses, Mr. DeGaynor brings to Methode diverse experience at the intersection of operations, technology and strategy. From 2015 to 2023, he served as President and CEO of Stoneridge, Inc., a publicly traded global designer and manufacturer of highly engineered electrical and electronic systems, components, and modules for the automotive, commercial, off-highway and agricultural vehicle markets. At Stoneridge, he led a team that developed and executed a strategic shift toward being a systems provider for both passenger and commercial vehicle customers, particularly in the areas of vehicle intelligence and advanced safety systems. The strategy drove transformation across Stoneridge's product portfolio, organizational structure and financial performance, leading to significant growth and value creation. Since 2023, Mr. DeGaynor has been Executive Chairman of Racing and Performance, Inc., an automotive performance systems supplier in the aftermarket space.
Chairman Walter J. Aspatore said, "After a comprehensive search process, we are pleased to appoint a seasoned executive of Jon's caliber as the new CEO ...