AMETEK Appoints Christoph Maetzig Vice President and General Manager, Ultra Precision Technologies Division; Bruce Wilson To Retire Following 22 Years Of Service

Rhea-AI Summary

AMETEK, Inc. (NYSE: AME) announced the appointment of Dr. Christoph Maetzig as Vice President and General Manager of its Ultra Precision Technologies division. Dr. Maetzig succeeds Bruce Wilson, who is retiring after 22 years with the company. His leadership transition will take effect on January 1, 2022, with Wilson remaining as a consultant until May 2022. Dr. Maetzig has a strong background, having joined AMETEK in 2016, and holds various degrees in engineering and sciences. AMETEK aims for double-digit growth in earnings per share and has $5.5 billion in annualized sales.

Positive

• Dr. Christoph Maetzig brings extensive industry experience, likely contributing to innovation and growth.
• The leadership change may rejuvenate the Ultra Precision Technologies division with fresh perspectives.

Negative

• Concerns regarding continuity and experience in leadership could arise with Bruce Wilson's departure.

BERWYN, Pa., Dec. 6, 2021  /PRNewswire/ -- AMETEK, Inc. (NYSE: AME) today announced the appointment of Dr. Christoph Maetzig as Vice President and General Manager, AMETEK Ultra Precision Technologies division. Chris will be replacing Bruce Wilson, Senior Vice President, Ultra Precision Technologies division, who announced his intention to retire following his 22-year tenure with the company.

"We are pleased Chris will be taking on this important leadership role with the company," said David A. Zapico, AMETEK Chairman and Chief Executive Officer. "Chris' deep industry knowledge, focus on innovation, and proven leadership experience will serve him well in this new role."

"I want to thank Bruce for his dedication to AMETEK and his strong leadership over the last two decades," added Mr. Zapico. "He has been critical to the success of our company and the growth of our Ultra Precision Technologies division. We wish Bruce and his family all the best on his retirement."

Dr. Maetzig joined AMETEK in 2016 as Business Unit Manager for SPECTRO Analytical Instruments GmbH. Prior, he led various microscopy businesses at Leica Microsystems and worked for German technology group Heraeus as a Division Manager.

Dr. Maetzig obtained his doctorate from the Institute for Microtechnology, University of Hanover, Germany, and earned his Master of Science degree from the University of Wisconsin. He also holds a degree in Mechanical Engineering from the University of Hanover, Germany.

This leadership change will go into effect January 1, 2022, with Mr. Wilson remaining with AMETEK in a consulting capacity until May 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

View original content:https://www.prnewswire.com/news-releases/ametek-appoints-christoph-maetzig-vice-president-and-general-manager-ultra-precision-technologies-division-bruce-wilson-to-retire-following-22-years-of-service-301437596.html

SOURCE AMETEK, Inc.

FAQ

Who is the new Vice President and General Manager of AMETEK's Ultra Precision Technologies division?

Dr. Christoph Maetzig has been appointed as the new Vice President and General Manager.

When will Dr. Christoph Maetzig officially take over his new role?

Dr. Maetzig's new role will take effect on January 1, 2022.

What was Bruce Wilson's role at AMETEK and how long did he serve?

Bruce Wilson served as Senior Vice President of the Ultra Precision Technologies division for 22 years.

What are AMETEK's annual sales figures?

AMETEK has annualized sales of $5.5 billion.

What are AMETEK's goals in terms of earnings growth?

AMETEK aims for double-digit percentage growth in earnings per share over the business cycle.