Benchmark Electronics Inc. (BHE), a provider of integrated electronic manufacturing services, said Tuesday that its co-founder and CEO Cary Fu has decided to retire from the company, effective December 31, 2011. He will be succeeded as CEO by Gayla Delly, president of the company, effective January 1, 2012.
Fu has agreed to provide consulting services to Benchmark through 2014 and will continue to serve as chairman of the board through the end of 2012.
The new CEO, Delly, was also named to serve as a member of the company's board. Delly, who has been with the company since 1995, currently serves as a member of the board of directors of Flowserve Corp (FLS).
Delly has served as president of Benchmark from December 2006 and chief financial officer from May 2001 to December 2006. She has also served earlier as executive vice president, vice president - finance, treasurer, and controller of the company.
Meanwhile, Fu has been chairman of the board since May 2009, and CEO of the company since September 2004. He has also served as president and CEO of the company from September 2004 to December 2006, president and chief operating officer from May 2001 to September 2004, executive vice president from 1990 to May 2001, and executive vice president-financial administration from 1990 to April 1992.
Fu has also previously served the company as treasurer, secretary, assistant secretary, and as a director from 1986 to 1988.
In Tuesday's regular session, BHE is trading at $14.13, up $0.18 or 1.29 percent on a volume of 2,848 shares.
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