OSI Systems President and CEO Deepak Chopra to Retire by Calendar Year-End, Will Remain as Executive Chairman

Rhea-AI Summary

OSI Systems, Inc. (NASDAQ: OSIS) revealed that President and CEO Deepak Chopra will retire by the end of the year, continuing as Executive Chairman. A successor will be appointed to take over his current roles.

HAWTHORNE, Calif.--(BUSINESS WIRE)-- OSI Systems, Inc. (the "Company") (NASDAQ: OSIS) announced today that Chairman and Chief Executive Officer Deepak Chopra has informed the Company’s Board of Directors of his plans to retire from his roles as President and Chief Executive Officer by the end of the current calendar year, after the appointment of a successor. Following his retirement as President and CEO, Mr. Chopra will continue to work with the Company as Executive Chairman of the Board.

About OSI Systems

OSI Systems is a vertically integrated designer and manufacturer of specialized electronic systems and components for critical applications in the homeland security, healthcare, defense, and aerospace industries. The Company combines more than 40 years of electronics engineering and manufacturing experience with offices and production facilities in more than a dozen countries to implement a strategy of expansion into selective end-product markets. For more information on OSI Systems or any of its subsidiary companies, visit www.osi-systems.com. News Filter: OSIS-G

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements relate to OSI Systems’ current expectations, beliefs, and projections concerning matters that are not historical facts. Forward-looking statements are not guarantees of future performance and involve uncertainties, risks, assumptions, and contingencies, many of which are outside OSI Systems’ control and which may cause actual results to differ materially from those described in or implied by any forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are based on currently available information and speak only as of the date on which they are made. OSI Systems assumes no obligation to update any forward-looking statement made in this press release that becomes untrue because of subsequent events, new information, or otherwise, except to the extent it is required to do so in connection with its ongoing requirements under Federal securities laws. For a further discussion of factors that could cause OSI Systems’ future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in OSI Systems’ most recently filed Annual Report on Form 10-K and other risks described therein and in documents subsequently filed by OSI Systems from time to time with the Securities and Exchange Commission.

SOURCE: OSI Systems, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240503207974/en/

OSI Systems, Inc.

Ajay Vashishat

Vice President, Business Development

310-349-2237

avashishat@osi-systems.com

Source: OSI Systems, Inc.

FAQ

When will OSI Systems President and CEO Deepak Chopra retire?

Deepak Chopra will retire from his roles as President and CEO by the end of the current calendar year.

What position will Deepak Chopra hold after his retirement as President and CEO?

After retiring as President and CEO, Mr. Chopra will remain as Executive Chairman of the Board at OSI Systems, Inc.

What is the stock symbol of OSI Systems, Inc.?

The stock symbol of OSI Systems, Inc. is NASDAQ: OSIS.

Who will be appointed as Deepak Chopra's successor?

A successor will be appointed to take over the roles of President and CEO at OSI Systems, Inc.