MAYFIELD HEIGHTS, Ohio--(BUSINESS WIRE)--
Materion Corporation (NYSE:MTRN) announced today its Board of Directors
has completed the planned succession of its top leadership with the
appointment of Richard J. Hipple, 64, Chairman, President and Chief
Executive Officer of the Company since 2006, to Executive Chairman, a
responsibility he will hold until retirement planned for within one
year. Jugal K. Vijayvargiya has joined Materion and succeeded Mr. Hipple
as President and Chief Executive Officer, reporting to the Company's
Board of Directors. Mr. Vijayvargiya has also been appointed as a
Materion director.
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Jugal K. Vijayvargiya, President and Chief Executive Officer, Materion Corporation (Photo: Business Wire)
Mr. Vijayvargiya has an extensive 26-year international career with
Delphi Automotive PLC, a leading global technology solutions provider to
the automotive and transportation sectors. Since 2012, he has led Delphi
Automotive's Electronics & Safety segment, a $3 billion global business
based in Germany. The segment provides leading-edge automated driving,
active safety, infotainment, user experience, and software/services
technologies from manufacturing and technology centers across 16
countries. In this role, Mr. Vijayvargiya has served as an officer of
Delphi and a member of its Executive Committee. Previously, he served in
progressively responsible positions in Europe and North America in
product and manufacturing engineering, sales, product line management,
acquisition integration and general management.
He received both a bachelor's degree and a master's degree in electrical
engineering from The Ohio State University.
Under Mr. Hipple's leadership, Materion has significantly transformed
from its origins as a traditional mining and metals-focused producer
into a leading, global advanced materials enterprise, focused on growth
markets and underpinned by a strong balance sheet. A series of
synergistic and value-accretive advanced materials acquisitions
completed under his direction have been pivotal to the Company's growth
and diversification, and have strengthened its underlying profitability.
Remarking on his transition to Executive Chairman, Mr. Hipple said, "It
has been a tremendous privilege to have served as CEO during a period of
unprecedented challenge and change within Materion. With phenomenal
products, long-term growth markets, a strong management team, and the
intensity and loyalty of the Company's employees around the globe,
Materion is well-placed for future success. This is the perfect time for
an orderly hand-off of leadership. Jugal is an outstanding choice for
that responsibility. He brings a proven track record of organic and
inorganic growth, excellent operational skills and international
experience - all critical to Materion's strategy. I look forward to
supporting him in his transition."
Commenting on his appointment, Mr. Vijayvargiya said, "Materion is a
well-respected leader in advanced, enabling materials with exceptional
organizational values, a deep culture of innovation and a remarkable
heritage. I am excited and proud to have the opportunity to lead the
Company to its next level of long-term success, delivering results and
building on the accomplishments of Dick and the talented Materion team.
I am very confident in the future growth prospects for Materion and am
greatly honored by the trust the Board has placed in me to take the
Company forward."
Materion Corporation is headquartered in Mayfield Heights, Ohio. The
Company, through its wholly owned subsidiaries, supplies highly
engineered advanced enabling materials to global markets. Products
include precious and non-precious specialty metals, inorganic chemicals
and powders, specialty coatings, specialty engineered beryllium alloys,
beryllium and beryllium composites, and engineered clad and plated metal
systems.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170303005326/en/
Materion Corporation
Investor Contact:
Stephen
F. Shamrock, 216-383-4010
stephen.shamrock@materion.com
or
Media
Contact:
Patrick S. Carpenter, 216-383-6835
patrick.carpenter@materion.com
or
http://www.materion.com
Mayfield
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Source: Materion Corporation
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