inTest Corporation (NYSE:$INTT) is a designer and manufacturer of temperature management products and semiconductor automated test equipment (ATE) interface solutions. Robert E. Matthiessen, President and CEO of the company has announced that he will retire from his position at the end of 2017, after 20 years in the running. Matthiessen will continue to serve as a Chairman of the Board. To take his place is James Pelrin, effective January 1, 2018. Pelrin currently serves as the Executive Vice President and Chief Operating Officer.
Let’s take a look at Mr. Matthiessen’s tenure for inTest:
- Successfully acquired six companies
- Broadened customer diversification, lessened dependence on the cyclical semiconductor market
- Positioned itself to successfully deliver profits and generate cash during cyclical and seasonal ATE downtowns
In an official statement, Matthiessen stated: “It has been my distinct honor to lead inTest alongside our dedicated employees around the world, and I am proud to continue serving the company and its stakeholders as Chairman of the Board. Since the Company’s inception 36 years ago, quality and innovation have been the hallmark of our endeavors. As Jim takes the helm, I am confident that inTest will continue its growth trajectory as he and the team build on our strong foundation of success.”
inTest’s products are used by semiconductor manufacturers to perform development, qualifying and final testing of integrated circuits and wafers, and for other electronic tests across a range of industries including the automotive, defense/aerospace, energy, industrial and telecommunications markets.
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