Methode Electronics (MEI) just unveiled an announcement.
Methode Electronics, Inc. is undergoing a significant leadership transition with CFO Ronald L.G. Tsoumas announcing his retirement set for July 12, 2024. The company has initiated the search for Tsoumas’s successor and has also signed a Transition Agreement with him to support the handover process. Additionally, David Rawden from the advisory firm AlixPartners is expected to step in as the Interim CFO after Tsoumas’s departure, although this is subject to potential change. Meanwhile, the company has also updated severance and retention agreements with their CEO, Avi Avula, detailing the benefits he would receive if his employment were terminated without cause.
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