TERADYNE, INC false 0000097210 0000097210 2020-09-15 2020-09-15












Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): September 15, 2020




(Exact Name of Registrant as Specified in Charter)




Massachusetts   001-06462   04-2272148

(State or Other Jurisdiction

of Incorporation)



File Number)


(IRS Employer

Identification No.)


600 Riverpark Drive, North Reading, MA   01864
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s telephone number, including area code (978) 370-2700

(Former Name or Former Address, if Changed Since Last Report)



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):


Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class





Name of each exchange

on which registered

Common Stock, par value $0.125 per share   TER   Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in 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 September 15, 2020, Teradyne, Inc. (the “Company” or “Teradyne”) announced the appointment of Gregory Smith as President of Teradyne’s Industrial Automation Group effective October 1, 2020.


Item 8.01.

Other Events.

On September 15, 2020, the Company issued a press release announcing the appointment of Mr. Smith as President, Industrial Automation Group effective as of October 1, 2020. A copy of the press release is attached hereto as Exhibit 99.1.


Item 9.01.

Financial Statements and Exhibits.

(d)    Exhibits


99.1    Press Release issued by Teradyne, Inc. on September 15, 2020.
104    Cover Page Interactive Data File (embedded within the Inline XBRL document)


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 thereunto duly authorized.


Dated: September 16, 2020     By:  

/s/ Sanjay Mehta

    Name:   Sanjay Mehta
    Title:   V.P., Chief Financial Officer and Treasurer

Exhibit 99.1

Teradyne Announces Senior Management Changes

NORTH READING, Mass. – September 15, 2020 – Teradyne, Inc. (Nasdaq: TER) today announced two senior management changes. Gregory Smith has been appointed to the newly created position of President of Teradyne’s Industrial Automation Group, while Richard Burns has been appointed President of Teradyne’s Semiconductor Test Division, replacing Mr. Smith. Both appointments are effective October 1, 2020.

“Greg and Rick have been key drivers of our Semiconductor Test team’s market and business success,” said Teradyne President and CEO Mark Jagiela. “In his new role, Greg will lead our expanding Industrial Automation Group, including Universal Robots, MiR and AutoGuide. These platforms are technology leaders with strong management teams in place and Greg’s experience developing and growing high-performing teams, while expanding our market footprint, will be invaluable in his new role.”

Mr. Jagiela continued, “Rick’s leadership of our Semiconductor Test engineering team and our multiyear engineering strategy has delivered the strongest product line-up in our history. This has delivered industry-leading performance for our customers, driven our recent market share gains and has positioned us for future growth.”

Mr. Smith joined Teradyne in 2006 and has been Semiconductor Test Division President since 2016. In that role, he expanded Teradyne’s product line, grew sales and profits and strengthened the global organization. In his new role as President of the Industrial Automation Group, Mr. Smith will lead Teradyne’s expanding Industrial Automation business. Mr. Smith has over 30 years of engineering, management and marketing experience and holds a BSEE from the University of Pennsylvania.

Mr. Burns joined Teradyne in 2007 and has served in a variety of roles, including most recently as Vice President of Semiconductor Test Engineering. Under his leadership, the engineering team has consistently created the high-performance hardware and software systems necessary to test the semiconductor industry’s most complex devices. Mr. Burns has over 30 years of engineering, engineering management and business leadership experience and holds a BS in Physics from the University of California, Los Angeles and an MSEE from the California State University, Northridge.

Mr. Jagiela added, “I am confident that Greg’s and Rick’s new roles will further strengthen Teradyne’s position in both Industrial Automation and Semiconductor Test. They are proven leaders with the technical and leadership skills needed to deliver innovative products and support solutions for our global customers.”

About Teradyne

Teradyne (Nasdaq:TER) brings high-quality innovations such as smart devices, life-saving medical equipment and data storage systems to market, faster. Its advanced test solutions for semiconductors, electronic systems, wireless devices and more ensure that products perform as they were designed. Its Industrial Automation offerings include collaborative and mobile robots that help manufacturers of all sizes improve productivity and lower costs. In 2019, Teradyne had revenue of $2.3 billion and today employs 5,500 people worldwide. For more information, visit teradyne.com. Teradyne® is a registered trademark of Teradyne, Inc. in the U.S. and other countries.


Andrew Blanchard

Investor Relations