UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 5, 2021
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(Exact name of registrant as specified in its charter)
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Registrant’s telephone number, including area code: (610 ) 647-2121
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 5, 2021, AMETEK, Inc. (the “Company”) announced that Timothy N. Jones, President, Electromechanical Group of the Company, intends to retire as President effective January 1, 2022.
The Company also announced that David F. Hermance was elected President, Electromechanical Group of the Company effective January 1, 2022, assuming Mr. Jones’ position. Mr. Hermance, 53, currently serves as Vice President and General Manager of the Company, a position he has held since 2015. There is no arrangement or understanding between Mr. Hermance and any other person pursuant to which he was selected President, Electromechanical Group of the Company, there is no family relationship between Mr. Hermance and any Director or Officer of the Company, and Mr. Hermance is not a party to any transaction in which the Company is a participant.
The Company also announced that Emanuela Speranza was elected to the newly created role of Chief Commercial Officer of the Company effective January 1, 2022. Ms. Speranza, 52, currently serves as Vice President of the Company, a position she has held since 2014. There is no arrangement or understanding between Ms. Speranza and any other person pursuant to which she was selected Chief Commercial Officer of the Company, there is no family relationship between Ms. Speranza and any Director or Officer of the Company, and Ms. Speranza is not a party to any transaction in which the Company is a participant.
Both Ms. Speranza and Mr. Hermance will be executive officers of the Company in their new roles.
Copies of the Company’s press releases are attached hereto as Exhibits 99.1 and 99.2 and are incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AMETEK, Inc. | |||||||||||
| November 5, 2021 | By: | /s/ THOMAS M. MONTGOMERY | |||||||||
| Name: Thomas M. Montgomery | |||||||||||
Title: Senior Vice President - Comptroller | |||||||||||
Exhibit 99.1
AMETEK APPOINTS DAVID HERMANCE PRESIDENT, ELECTROMECHANICAL GROUP; TIMOTHY JONES TO RETIRE FOLLOWING 42 YEARS OF SERVICE
Berwyn, Pa., Nov. 5, 2021 – AMETEK, Inc. (NYSE: AME) today announced the appointment of Dave Hermance as President, Electromechanical Group. Mr. Hermance currently serves as Vice President and General Manager, AMETEK Measurement, Communications and Testing (MC&T) Division. Dave will be replacing Tim Jones, President, Electromechanical Group, who announced his intention to retire at the end of 2021 following his 42-year tenure with the company.
“Dave is a proven operating executive and has contributed greatly to AMETEK’s success,” commented David A. Zapico, AMETEK Chairman and Chief Executive Officer. “Most recently, he has led strong growth and expansion of our MC&T division including the integration of several important acquisitions. I look forward to Dave taking on a broader role at the company as part of our Executive Office.”
“I want to thank Tim for his tremendous service over a long and distinguished career,” continued Mr. Zapico. “Tim has been instrumental in AMETEK’s growth and success during his over four decades of service, providing invaluable leadership and guidance. On behalf of all AMETEK colleagues, I want to wish Tim and his family all the best on his retirement.”
Mr. Hermance joined AMETEK in 1991 as a Marketing Analyst and Planner within our U.S. Gauge business and has continued to take on successfully larger leadership roles at the company including Business Unit Manager for our Industrial Products and for our Sensor Technologies businesses before taking on his current role as head of MC&T in 2016. Mr. Hermance holds a Bachelor of Science degree in Business Administration and Management and a master’s degree in Business Administration from Oregon State University.
This leadership change will go into effect January 1, 2022.
Corporate Profile
AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices with annualized sales of $5.5 billion. The AMETEK Growth Model integrates the Four Growth Strategies - Operational Excellence, New Product Development, Global and Market Expansion, and Strategic Acquisitions - with a disciplined focus on cash generation and capital deployment. AMETEK's objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. The common stock of AMETEK is a component of the S&P 500.
Contact:
Kevin Coleman
Vice President, Investor Relations and Treasurer
kevin.coleman@ametek.com
Phone: 610-889-5247
Exhibit 99.2
EMANUELA SPERANZA NAMED CHIEF COMMERCIAL OFFICER
Berwyn, Pa., Nov. 5, 2021 – AMETEK, Inc. (NYSE: AME) today named Emanuela Speranza as Chief Commercial Officer and a member of the company’s Executive Office, effective January 1, 2022.
In this newly created role, Ms. Speranza will work with AMETEK businesses to drive accelerated organic sales growth by leading company-wide commercial excellence initiatives and managing global marketing communications. She will also be responsible for expanding AMETEK’s digitalization efforts, while continuing to oversee AMETEK’s international infrastructure.
“Emanuela’s strong leadership skills and sales and marketing experience make her ideally suited for this expanded leadership position,” said David A. Zapico, AMETEK Chairman and Chief Executive Officer. “We are excited she will be taking on this new and important role with AMETEK.”
Ms. Speranza joined AMETEK in 2014 as Vice President and General Manager, AMETEK Precision Instruments, Europe, and most recently served as Vice President, International, where she oversaw AMETEK’s infrastructure in Europe and Asia. Prior to joining AMETEK, Ms. Speranza held roles of increasing responsibility at Danaher, serving as Vice President for Europe, Middle East, Africa (EMEA) and India and Vice President, EMEA Sales and Marketing for a number of Danaher businesses.
Ms. Speranza earned her Bachelor of Science degree in Economics from Bocconi University in Milan Italy, and a master’s degree in Telecommunications from Technische Universität Delft, The Netherlands.
Corporate Profile
AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices with annualized sales of $5.5 billion. The AMETEK Growth Model integrates the Four Growth Strategies - Operational Excellence, New Product Development, Global and Market Expansion, and Strategic Acquisitions - with a disciplined focus on cash generation and capital deployment. AMETEK's objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. The common stock of AMETEK is a component of the S&P 500.
Contact:
AMETEK, Inc.
Kevin Coleman
Vice President, Investor Relations & Treasurer
kevin.coleman@ametek.com
Phone: 610-889-5247
