Data I/O Announces Organizational Changes to Align with Scaling and Growth Strategies
Data I/O (NASDAQ: DAIO) announced organizational changes effective December 1, 2024, following the appointment of William Wentworth as CEO. The company hired Monty Reagan as Vice President of Sales & Marketing, a position vacant for over 10 years, and promoted Matt Hunter to Director of Quality, a newly created position. These changes aim to support growth strategies and market share expansion. The reorganization also includes the departures of Rajeev Gulati, VP and Chief Technology Officer, and Michael Tidwell, VP of Marketing and Corporate Business Development.
Data I/O (NASDAQ: DAIO) ha annunciato cambiamenti organizzativi che entreranno in vigore il 1° dicembre 2024, in seguito alla nomina di William Wentworth come CEO. L'azienda ha assunto Monty Reagan come Vice Presidente delle Vendite e Marketing, una posizione vacante da oltre 10 anni, e ha promosso Matt Hunter a Direttore della Qualità, una posizione recentemente creata. Questi cambiamenti mirano a supportare le strategie di crescita e l'espansione della quota di mercato. La riorganizzazione include anche le dimissioni di Rajeev Gulati, VP e Chief Technology Officer, e Michael Tidwell, VP di Marketing e Sviluppo Aziendale.
Data I/O (NASDAQ: DAIO) anunció cambios organizativos efectivos a partir del 1 de diciembre de 2024, tras el nombramiento de William Wentworth como CEO. La compañía contrató a Monty Reagan como Vicepresidente de Ventas y Marketing, un cargo vacante durante más de 10 años, y promovió a Matt Hunter como Director de Calidad, una posición recién creada. Estos cambios tienen como objetivo apoyar las estrategias de crecimiento y la expansión de la cuota de mercado. La reestructuración también incluye las salidas de Rajeev Gulati, VP y Director de Tecnología, y Michael Tidwell, VP de Marketing y Desarrollo Empresarial.
Data I/O (NASDAQ: DAIO)는 William Wentworth를 CEO로 임명한 후 2024년 12월 1일부터 시행되는 조직 변경을 발표했습니다. 이 회사는 10년 이상 공석이었던 영업 및 마케팅 부사장으로 Monty Reagan을 고용하고, 새로운 직책인 품질 이사로 Matt Hunter를 승진시켰습니다. 이러한 변화는 성장 전략과 시장 점유율 확대를 지원하기 위한 것입니다. 재편성에는 Rajeev Gulati 부사장 및 최고 기술 책임자, Michael Tidwell 마케팅 및 기업 비즈니스 개발 부사장의 퇴직도 포함됩니다.
Data I/O (NASDAQ: DAIO) a annoncé des changements organisationnels qui entreront en vigueur le 1er décembre 2024, suite à la nomination de William Wentworth en tant que PDG. L'entreprise a recruté Monty Reagan au poste de Vice-Président des Ventes et du Marketing, un poste vacant depuis plus de 10 ans, et a promu Matt Hunter au poste de Directeur de la Qualité, un poste nouvellement créé. Ces changements visent à soutenir les stratégies de croissance et l'expansion de la part de marché. La réorganisation comprend également les départs de Rajeev Gulati, VP et Directeur de la Technologie, et de Michael Tidwell, VP du Marketing et du Développement Commercial.
Data I/O (NASDAQ: DAIO) gab organisatorische Änderungen bekannt, die ab dem 1. Dezember 2024 wirksam werden, nachdem William Wentworth zum CEO ernannt wurde. Das Unternehmen hat Monty Reagan als Vizepräsident für Vertrieb und Marketing eingestellt, eine Position, die seit über 10 Jahren unbesetzt war, und Matt Hunter zum Qualitätsdirektor befördert, eine neu geschaffene Position. Diese Änderungen zielen darauf ab, Wachstumsstrategien und die Ausweitung des Marktanteils zu unterstützen. Die Reorganisation umfasst auch die Abgänge von Rajeev Gulati, VP und Chief Technology Officer, und Michael Tidwell, VP für Marketing und Unternehmensentwicklung.
- Strategic reorganization to support growth and scaling initiatives
- Appointment of industry veteran to lead sales and marketing after 10-year vacancy
- Creation of new quality director position to oversee global ISO certifications
- Departure of two key executives (CTO and VP of Marketing)
Insights
The organizational restructuring under new CEO William Wentworth signals a strategic pivot but lacks immediate financial impact. While the appointment of Monty Reagan as VP of Sales & Marketing after a 10-year vacancy suggests renewed focus on market expansion and the creation of a Quality Director position indicates commitment to operational excellence, these changes represent long-term strategic moves rather than immediate value drivers.
The departure of both the CTO and VP of Marketing raises some concerns about continuity in technology development and market strategy. However, the streamlining of leadership and focus on scaling operations could potentially lead to improved efficiency and market penetration in the semiconductor programming equipment space. For a small-cap company (
“We are announcing a series of organizational changes addressing both personnel and operations which we believe best position us to scale and grow the Company,” said William Wentworth, President and CEO of Data I/O Corporation. “Since my coming on board, we have been assessing our capabilities with a view towards our future growth and market share expansion opportunities. To this end, we have hired proven industry veterans, promoted from within and created new positions. Collectively, we have streamlined our leadership team to align ourselves while creating growth strategies and prioritizing customer success. These are the steps we believe are necessary to become a higher value partner with a broader reach into the global electronics supply chain.”
Semiconductor and electronics industry veteran Monty Reagan was appointed Vice President, Sales & Marketing, for Data I/O, a position that had not been occupied in more than 10 years. Prior to assuming this newly revived position to lead the sales and marketing organizations for the Company, Mr. Reagan spent nearly two decades in sales, marketing and business development roles with Avnet, BPM Microsystems, DataTrans Solutions, and Source Electronics.
Matt Hunter was promoted to Director of Quality, a newly created position at Data I/O. This position is responsible for overseeing Data I/O’s global ISO 9001:2015 quality certifications and manufacturing quality standards, in addition to supporting various operational activities as the Company expands its global solutions, product, service and support initiatives.
Rajeev Gulati, Vice President and Chief Technology Officer, and Michael Tidwell, Vice President of Marketing and Corporate Business Development, have left the Company. As principal officers of Data I/O, details of the departures were reported under Form 8-K filed with the Securities and Exchange Commission.
About Data I/O Corporation
Since 1972, Data I/O has developed innovative solutions to enable the design and manufacture of electronic products for automotive, Internet-of-Things, medical, wireless, consumer electronics, industrial controls and other electronics devices. Today, our customers use Data I/O’s data provisioning solutions to manage device intellectual property from point of inception to deployment in the field. OEMs of any size can program and securely provision devices from early samples all the way to high volume production prior to shipping semiconductor devices to a manufacturing line. Data I/O enables customers to reliably, securely, and cost-effectively bring innovative new products to life. These solutions are backed by a portfolio of patents and a global network of Data I/O support and service professionals, ensuring success for our customers. Learn more at dataio.com/Company/Patents.
Learn more at dataio.com
Forward Looking Statement
Statements in this news release concerning economic outlook, expected revenue, expected margins, expected savings, expected results, expected expenses, orders, deliveries, backlog and financial positions, supply chain expectations, personnel and productivity as well as any other statement that may be construed as a prediction of future performance or events are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause actual results to differ materially from those expressed or implied by such statements.
Forward-looking statement disclaimers also apply to the demand for the Company’s products and the impact from geopolitical conditions including any related international trade restrictions. These factors include uncertainties as to the ability to record revenues based upon the timing of product deliveries, shipping availability, installations and acceptance, accrual of expenses, coronavirus related business interruptions, changes in economic conditions, part shortages and other risks including those described in the Company’s filings on Forms 10-K and 10-Q with the Securities and Exchange Commission (SEC), press releases and other communications.
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Gerald Ng
Vice President and CFO
Data I/O Corporation
6645 185th Ave. NE, Suite 100
Investor-Relations@dataio.com
Darrow Associates, Inc.
Jordan Darrow
(512) 551-9296
jdarrow@darrowir.com
Source: Data I/O Corporation
FAQ
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