Plus   Neg

Teledyne Names Al Pichelli CEO, Robert Mehrabian Executive Chairman

Industrial conglomerate Teledyne Technologies Inc. (TDY) announced late Tuesday the appointment of Al Pichelli as the President and Chief Executive Officer.

Pichelli, currently President and Chief Operating Officer, will succeed current CEO and Chairman Robert Mehrabian. Further, Mehrabian was named Executive Chairman, effective January 1, 2019.

As Executive Chairman, Mehrabian will remain actively involved with the company with a particular focus on strategy, technology, mergers and acquisitions and margin expansion programs. Mehrabian's employment contract has been amended and extended an additional four years to December 2023.

Pichelli has entered into an employment agreement through December 2021.

Mehrabian said, "After nearly 38 years of operational leadership and integration of all of Teledyne's 59 acquisitions, I want to congratulate Al on his well-deserved promotion to CEO.Al and I will work side by side, leading the development and execution of Teledyne's growth strategy."

Teledyne also announced certain other promotions. Jason VanWees, current Senior Vice President, Strategy and Mergers & Acquisitions, will become Executive Vice President with responsibilities including strategy, margin improvement programs and mergers & acquisitions.

Stephen Blackwood, current Vice President and Treasurer, will become Senior Vice President and Treasurer, overseeing all banking, procurement and treasury functions.

VanWees will continue to report to Mehrabian, and Blackwood will report directly to Mehrabian on procurement initiatives, effective January 1, 2019.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
MillerCoors LLC has filed a lawsuit against Anheuser-Busch Companies LLC, part of Anheuser-Busch InBev, alleging that Anheuser-Busch's ad campaigns associating MillerCoors' products, Miller Lite and Coor Light, with corn syrup is "false and misleading." During the Super Bowl, ABInBev ran an advertising campaign that mocked Miller Lite and Coors Light use corn syrup in brewing. Shares of Biogen Inc. are falling almost 28 percent in Thursday's trading after the company and Japanese drugmaker Eisai Co. said they will discontinue two late-stage trials for their experimental Alzheimer's drug, Aducanumab. The two Phase 3 trials, ENGAGE and EMERGE, are multi-center, randomized, double-blind, placebo-controlled, parallel-group studies designed to evaluate Aducanumab. The European Union on Wednesday ordered Alphabet Inc.'s Google to pay an antitrust fine of 1.49 billion euros for abusing its dominant position in the online search advertising intermediation market by preventing competition. This is the third antitrust fine by the EU against Google and it represents 1.29 percent of the tech giant's turnover in 2018.
Follow RTT