NI Announces Planned CFO Retirement and Transition Plan

Rhea-AI Summary

National Instruments Corporation (NASDAQ: NATI) announced that CFO Karen Rapp will retire in May 2023. Rapp has been crucial in the company's transformation since joining in 2017. To ensure a smooth transition, she will continue in her role until a successor is appointed and will then move to a temporary advisory position. CEO Eric Starkloff praised her leadership and contributions to the company's success.

Positive

• Karen Rapp has significantly transformed the company since her arrival in 2017.
• Smooth transition plan in place with Rapp advising her successor.

Negative

• Upcoming leadership change may create uncertainty among investors.

AUSTIN, Texas--(BUSINESS WIRE)-- National Instruments Corporation (NASDAQ: NATI) announced today that Karen Rapp, NI’s Executive Vice President and Chief Financial Officer, has announced her plans to retire in May 2023. Ms. Rapp is expected to remain in her current role until a successor is in place and then will shift to a temporary advisory role to ensure a smooth transition.

"Karen has played an instrumental role in transforming our company and our financial results since joining in 2017," said President and Chief Executive Officer Eric Starkloff. "Her leadership, commitment and expertise have greatly contributed to our success, and she’s been a valued member of my leadership team."

As NI conducts an external search for its new CFO, Ms. Rapp will continue to serve in her current role to support a successful transition.

About NI

At NI, we bring together people, ideas and technology so forward thinkers and creative problem solvers can take on humanity’s biggest challenges. From data and automation to research and validation, we provide the tailored, software-connected systems engineers and enterprises need to Engineer Ambitiously™ every day.

National Instruments, NI and ni.com and Engineer Ambitiously are trademarks of National Instruments Corporation. Other product and company names listed are trademarks or trade names of their respective companies. (NATI-F)

View source version on businesswire.com: https://www.businesswire.com/news/home/20220913005408/en/

NI Corporate Media Relations

Email: pr@ni.com

Source: National Instruments Corporation

FAQ

When is Karen Rapp retiring from National Instruments?

Karen Rapp is set to retire in May 2023.

Who is the current CFO of National Instruments?

Karen Rapp is the current CFO of National Instruments.

What has Karen Rapp contributed to National Instruments?

Karen Rapp has played a significant role in transforming the company and improving financial results since 2017.

What will happen after Karen Rapp retires?

After her retirement, she will assume a temporary advisory role to help with the transition.