Rogers Corporation Announces Departure of Chief Financial Officer

Rhea-AI Summary

Rogers (NYSE: ROG) announced the resignation of CFO Ram Mayampurath, who will remain with the company until September 2024 to ensure a smooth transition. Laura Russell, currently Vice President of Finance, will assume the role of interim CFO effective August 12, 2024. Russell joined Rogers in September 2023 and has previous experience in senior finance roles at Wolfspeed and NXP Semiconductors.

CEO Colin Gouveia expressed gratitude for Mayampurath's contributions over the past 10 years, particularly his efforts in improving profitability and cash flow since becoming CFO in 2021. Rogers has initiated a CFO succession process and will provide updates as appropriate.

Positive

• Laura Russell, with senior finance experience at Wolfspeed and NXP Semiconductors, appointed as interim CFO
• Orderly transition planned with outgoing CFO remaining until September 2024

Negative

• Departure of experienced CFO Ram Mayampurath after 10 years with the company

CHANDLER, Ariz.--(BUSINESS WIRE)-- Rogers Corporation (NYSE: ROG) (“Rogers”) announced today that Ram Mayampurath has resigned as Chief Financial Officer (CFO) to pursue another opportunity. Mr. Mayampurath will remain with Rogers through September 2024 to ensure an orderly transition.

Effective August 12, 2024, Laura Russell will assume the role of interim CFO. Ms. Russell joined Rogers in September 2023 as Vice President of Finance and previously served in senior finance roles at Wolfspeed and NXP Semiconductors.

“I want to thank Ram for his leadership and contributions to Rogers over the past 10 years,” said Colin Gouveia, Rogers' President and CEO. “Since taking over as CFO in 2021, Ram has driven key initiatives to improve profitability and cash flow while helping position Rogers for future growth. Ram has been a great business partner and friend, and I wish him success in his future endeavors. I have great confidence in Laura, and we are fortunate to have such an experienced and capable leader serve as interim CFO.”

Rogers has initiated a CFO succession process and will provide updates as appropriate.

About Rogers Corporation

Rogers Corporation (NYSE:ROG) is a global leader in engineered materials to power, protect and connect our world. Rogers delivers innovative solutions to help our customers solve their toughest material challenges. Rogers’ advanced electronic and elastomeric materials are used in applications for EV/HEV, automotive safety and radar systems, mobile devices, renewable energy, wireless infrastructure, energy-efficient motor drives, industrial equipment and more. Headquartered in Chandler, Arizona, Rogers operates manufacturing facilities in the United States, Asia and Europe, with sales offices worldwide. For more information, visit www.rogerscorp.com.

Safe Harbor Statement

Statements included in this release that are not a description of historical facts are forward-looking statements. Words or phrases such as “believe,” “may,” “could,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “seek,” “plan,” “expect,” “should,” “would” or similar expressions are intended to identify forward-looking statements, and are based on Rogers’ current beliefs and expectations. This release contains forward-looking statements regarding our plans, objectives, outlook, goals, strategies, future events, future net sales or performance, capital expenditures, future restructuring, plans or intentions relating to expansions, business trends and other information that is not historical information. All forward-looking statements are based upon information available to us on the date of this release and are subject to risks, uncertainties and other factors, many of which are outside of our control, which could cause actual results to differ materially from those indicated by the forward-looking statements. For additional information about the risks, uncertainties and other factors that may affect our business, please see our most recent annual report on Form 10-K and any subsequent reports filed with the Securities and Exchange Commission, including quarterly reports on Form 10-Q. Rogers Corporation assumes no responsibility to update any forward-looking statements contained herein except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240812333116/en/

Media Contact:

Amy Kweder

Senior Director, Corporate Communications

Phone: 480.203.0058

Email: amy.kweder@rogerscorporation.com

Investor Contact:

Steve Haymore

Senior Director, Investor Relations

Phone: 480.917.6026

Email: stephen.haymore@rogerscorporation.com

Source: Rogers Corporation

FAQ

Who is the new interim CFO of Rogers (NYSE: ROG)?

Laura Russell, previously Vice President of Finance at Rogers, will assume the role of interim CFO effective August 12, 2024.

When is Ram Mayampurath leaving his position as CFO of Rogers (NYSE: ROG)?

Ram Mayampurath will remain with Rogers through September 2024 to ensure an orderly transition.

What is Rogers (NYSE: ROG) doing to find a permanent CFO?

Rogers has initiated a CFO succession process and will provide updates as appropriate.

What was Ram Mayampurath's contribution to Rogers (NYSE: ROG) as CFO?

Since becoming CFO in 2021, Ram Mayampurath drove key initiatives to improve profitability and cash flow while helping position Rogers for future growth.