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|Item 5.02.|| |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 10, 2020, Teradyne, Inc. (‘Teradyne”) announced the retirement of Roy Vallee from Teradyne’s Board of Directors (the “Board”) effective at the 2021 Annual Meeting of Shareholders that is expected to be held in May 2021. Mr. Vallee will continue on the Board and as Board Chair until the 2021 Annual Meeting of Shareholders.
|Item 8.01.|| |
On November 10, 2020, the Company issued a press release announcing the retirement of Mr. Vallee from the Board effective at the 2021 Annual Meeting of Shareholders. A copy of the press release is attached hereto as Exhibit 99.1.
|Item 9.01.|| |
Financial Statements and Exhibits.
|99.1||Press Release issued by Teradyne, Inc. on November 10, 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: November 10, 2020||By:|
|Title:||V.P., Chief Financial Officer and Treasurer|
|FOR IMMEDIATE RELEASE|
|For more information, contact:|
Roy Vallee to Retire from Teradynes Board of Directors in 2021
NORTH READING, Mass. November 10, 2020 Teradyne, Inc. (NASDAQ:TER) announced today that Roy Vallee, Teradyne Chairman of the Board of Directors and a member of the Compensation, and Nominating and Governance Committees, will retire from the Board effective at the 2021 annual meeting of shareholders that is expected to be held in May 2021. Mr. Vallee will serve out the remainder of his term as Chair and the Board will elect a new Chair following the 2021 annual meeting of shareholders.
Roy is a tremendous Board member whose leadership and wise counsel for over 20 years, the last six as Board Chair, have enabled Teradyne to thrive and grow, said Mark Jagiela, Teradyne President and CEO. His business acumen, integrity, and high standards have been valuable assets to the Board and our executive team. We thank Roy for his years of service and wish him well in his future pursuits.
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.