Peter Herweck Elected to Teradyne’s Board of Directors

Rhea-AI Summary

Teradyne has elected Peter Herweck to its Board of Directors, effective November 9, 2020. Herweck, an Executive Vice President at Schneider Electric, brings extensive experience in industrial automation and global enterprise leadership. His insights are expected to enhance Teradyne's strategic positioning in advanced industrial automation. The appointment reflects the company's ongoing commitment to innovation and leadership in the automation sector. Teradyne recorded a revenue of $2.3 billion in 2019 and currently employs 5,500 people worldwide.

Positive

• Peter Herweck's extensive experience in industrial automation is expected to strengthen strategic insights for Teradyne.
• Herweck's appointment to key committees may enhance governance and compensation strategies.

Negative

• Concerns may arise regarding continuity and potential experience gaps with new board members.

NORTH READING, Mass., Oct. 26, 2020 (GLOBE NEWSWIRE) -- Teradyne, Inc. (NASDAQ:TER) announced the election of Peter Herweck to its Board of Directors effective November 9, 2020. Mr. Herweck was also appointed to the Board’s Compensation and Nominating and Corporate Governance Committees.

“We are excited to have Peter join Teradyne’s Board of Directors,” said Roy Vallee, Teradyne Chairman. “His deep understanding of industrial automation along with his insights from leading complex, global enterprises serving a broad range of customers will be valuable additions to our Board as Teradyne expands its position in advanced industrial automation.”

Since 2016, Mr. Herweck is Member of the Executive Committee and Executive Vice President Industrial Automation at Schneider Electric SE, a €27.2 billion company. Schneider Electric (Euro Stoxx 50: SU) is providing energy and automation digital solutions for efficiency and sustainability. He is Vice Chairman of the Board of AVEVA Group plc, global leader in Industrial Software (FTSE100: AVV). Peter began his career at Mitsubishi Electric as a software development engineer in Japan before joining Siemens in 1993. At Siemens, he held a variety of leadership positions in the automation field including President of the Industry Sector in North-East Asia, Head of Corporate Strategy, and CEO of the Process Industries & Drives division.

Mr. Herweck studied automation technology at Saarland University of Applied Sciences, Germany, and received a Master's degree in electrical engineering from University de Metz, France. He holds a MBA from Wake Forest University, NC, and completed the Advanced Management Program at Harvard Business School.

About Teradyne

Teradyne (NASDAQ:TER) brings high-quality innovations such as smart devices, life-saving medical equipment and data storage systems to market, faster. Its advanced test solutions for semiconductors, electronic systems, wireless devices and more ensure that products perform as they were designed. Its Industrial Automation offerings include collaborative and mobile robots that help manufacturers of all sizes improve productivity and lower costs. In 2019, Teradyne had revenue of $2.3 billion and today employs 5,500 people worldwide. For more information, visit teradyne.com. Teradyne^® is a registered trademark of Teradyne, Inc. in the U.S. and other countries.

For more information, contact:
Andy Blanchard
Investor Relations
Tel 978.370.2425
investorrelations@teradyne.com

FAQ

Who is Peter Herweck and what is his role at Teradyne?

Peter Herweck is the newly elected member of Teradyne's Board of Directors, effective November 9, 2020. He also serves as Executive Vice President at Schneider Electric.

What impact will Peter Herweck's election have on Teradyne?

Herweck's experience in industrial automation is expected to contribute positively to Teradyne's strategy and growth in advanced automation.

What committees will Peter Herweck serve on at Teradyne?

Peter Herweck has been appointed to Teradyne's Compensation and Nominating and Corporate Governance Committees.

When did Teradyne announce the election of Peter Herweck to its Board?

Teradyne announced Peter Herweck's election to its Board of Directors on October 26, 2020.