8-KLeadership ChangesOther EventsExhibits & Filings

TERADYNE, INC 8-K Report, Executive Changes (Nov 16, 2022)

Filed November 16, 2022For Securities:TER

Summary

Teradyne, Inc. (TER) announced significant leadership changes via an 8-K filing on November 16, 2022, pertaining to events on November 15, 2022. The most notable information for investors is the retirement of Chief Executive Officer Mark E. Jagiela, effective February 1, 2023. This transition marks the end of an era for the company's long-standing leadership. Concurrently, Teradyne has appointed Gregory S. Smith as the new Chief Executive Officer, also effective February 1, 2023. Mr. Smith, who has been with Teradyne since 2006 and currently serves as President, brings extensive experience within the company, having previously led the Industrial Automation Group and the Semiconductor Test Division. His appointment to the Board of Directors further solidifies his integral role in the company's future direction. Investors should monitor the upcoming annual review of Mr. Smith's compensation in January 2023, which will be adjusted in light of his new CEO responsibilities.

Key Highlights

  • 1Mark E. Jagiela will retire as CEO and Board member effective February 1, 2023.
  • 2Gregory S. Smith has been appointed as the new CEO, effective February 1, 2023.
  • 3Mr. Smith will also join the Board of Directors, effective February 1, 2023.
  • 4Mr. Smith has a long tenure at Teradyne, joining in 2006 and most recently serving as President.
  • 5Mr. Smith's prior leadership roles include President of Industrial Automation Group and Semiconductor Test Division.
  • 6The company's Board of Directors will review Mr. Smith's compensation in January 2023 in connection with his CEO appointment.

Frequently Asked Questions

This 8-K filing primarily announces the retirement of Teradyne's CEO, Mark E. Jagiela, and the appointment of Gregory S. Smith as the new CEO and a Board member.

The retirement of Mark E. Jagiela and the appointment of Gregory S. Smith as CEO and Board member will both be effective on February 1, 2023.

Gregory S. Smith joined Teradyne in 2006 and has held several key leadership positions, including President of the Industrial Automation Group and President of the Semiconductor Test Division. He currently serves as President of the Company.

Yes, the Company's Board of Directors will review Mr. Smith's compensation in January 2023 as part of its annual review, specifically in connection with his appointment as Chief Executive Officer.