NI Announces CEO Transition
NI (Nasdaq: NATI), the provider of platform-based systems that enable engineers and scientists to solve the world’s greatest engineering challenges, today announced that its Board of Directors has elected Alex Davern, age 49, to serve as Chief Executive Officer and President of National Instruments, effective January 1, 2017. Davern will succeed Dr. James Truchard, age 73, who has served as the Chief Executive Officer of NI since the company’s founding in 1976. Dr. Truchard will remain as Chairman of the Board. The Board of Directors plans to appoint Mr. Davern to the Board by the end of January 2017. This transition is being undertaken as part of the Board’s succession planning process.
“It has always been my goal for NI to be a company built to last,” said Dr. James Truchard, CEO and co-founder. “Over the last decade, in the face of a weak industrial economy I have focused my efforts on helping to ensure that we were making the long-term strategic investments necessary to set NI up for future growth. Truchard continues, “It is the right time for me to retire as CEO. I have worked with Alex Davern for more than 20 years. He is an exceptional leader and business strategist, with a demonstrated track record of success. I have complete confidence in Alex and the rest of the senior leadership team at NI to continue delivering on our consistent track record of innovation, growth and profitability.”
Davern has served as Chief Operating Officer of NI since 2010, and Chief Financial Officer since 1997. Davern, and the rest of the senior management team, including Jeff Kodosky, co-founder, Fellow, and Board member of NI, Eric Starkloff, Executive VP of Global Sales and Marketing, Scott Rust, Senior VP of R&D, and Duncan Hudson, Chief Platform Officer, have over 100 years of experience at NI, working closely with Dr. Truchard.
In light of Mr. Davern’s promotion, the company will start the process of considering candidates to serve as Chief Financial Officer and expects to complete the process by the end of 2016.
