Summary
Teradyne, Inc. (TER) has announced a significant leadership change in its finance department. Effective November 3, 2025, Michelle Turner will assume the role of Vice President, Chief Financial Officer, and Treasurer, succeeding Sanjay Mehta. Ms. Turner will also serve as the principal financial officer and principal accounting officer. This transition marks a new chapter for Teradyne's financial operations, bringing in a seasoned executive with extensive experience from prominent companies such as L3Harris Technologies, Johnson & Johnson, and BHP Billiton. Investors should note that Mr. Mehta will remain with the company as an executive advisor, ensuring continuity and knowledge transfer during this period. Ms. Turner's compensation package includes a base salary of $640,000, with eligibility for a 100% target annual cash bonus. Additionally, she will receive a substantial equity award valued at $6,800,000 at target, comprised of various stock units and options. She will also be provided with sign-on bonuses and relocation assistance. The company has also outlined terms for a change of control agreement, offering two years of severance and accelerated equity vesting under specific termination conditions.
Key Highlights
- 1Michelle Turner appointed as new Vice President, Chief Financial Officer, and Treasurer, effective November 3, 2025.
- 2Sanjay Mehta will transition to an executive advisor role; his compensation remains unchanged.
- 3Ms. Turner's annual base salary will be $640,000, with a target annual cash incentive bonus of 100% of her base salary.
- 4Significant equity award granted to Ms. Turner valued at $6,800,000 at target, including RSUs and stock options.
- 5One-time sign-on compensation includes a $200,000 cash bonus and a $150,000 relocation payment.
- 6Ms. Turner has a strong background, having held CFO roles at L3Harris Technologies and Johnson & Johnson, among others.
- 7An Executive Officer Change of Control Agreement is in place for Ms. Turner, providing severance and accelerated equity vesting upon qualifying termination events.