- MTS Systems Corporation (NASDAQ: MTSC) announced that its Board of Directors has unanimously elected Randy Martinez as Interim President and Chief Executive Officer
Leading advanced test systems supplier MTS Systems Corporation (NASDAQ: MTSC) announced that its Board of Directors has unanimously elected Randy Martinez as Interim President and Chief Executive Officer, effective May 23, 2020.
Martinez — a seasoned executive who has served as an independent director on the company’s board since March 2014 — will succeed Dr. Jeffrey A. Graves.
Graves is stepping down as President and Chief Executive Officer and as a director of the company to become President and CEO of 3D Systems.
The Board is commencing a search process for a permanent replacement that will include internal and external candidates.
Martinez is bringing an exceptional track record of executive and director-level leadership in billion-dollar public corporations in aviation, aerospace & defense and industrials. And he joined the Company’s Board as an independent director in March 2014.
Between 2009 to 2017, Martinez served in several leadership roles at AAR Corporation, a provider of aviation services to the worldwide commercial aviation and aerospace & defense industries, most notably President & CEO of the Airlift Group and Group Vice President, Aviation Services.
Before joining AAR, Martinez was the CEO at World Air Holdings. And as a graduate of the United States Air Force Academy, Martinez served with distinction in the U.S. Air Force for 21 years, retiring as a Colonel and Command Pilot and having held a wide variety of leadership roles, including command and senior staff positions.
Key Quotes:
“Randy is a proven leader with a passion for team building, operational excellence and value creation that will serve MTS well, particularly in these challenging economic times. Randy has been an effective and thoughtful contributor to the Board for over six years. He had an outstanding career in the U.S. Air Force, and later in the commercial aerospace & defense industry, including as a public company CEO. We are confident he is the right choice to lead MTS as we search for a permanent successor.”
“The Board thanks Jeff for his leadership of MTS over the last eight years as CEO and wishes him the best in his new role. We are confident he leaves the business in an excellent position, in particular because of the strong management team he put in place. During his tenure, MTS has roughly doubled in size, leveraging its market-leading technologies to accelerate organic growth while completing several strategic acquisitions. Today, MTS is a leader in both test and simulation and high-precision sensor markets, with a well-balanced product portfolio focused on high-growth global markets. Our record orders performance and strong backlog position MTS to withstand the current economic challenges and capitalize on exciting growth opportunities in markets ranging from infrastructure and renewable energy to military applications, electric vehicles, and industrial automation.”
“Additionally, we will use this opportunity to consider further deepening the expertise of the Board to ensure it has the strongest mix of capabilities and experience to support MTS’ long-term strategy and provide strong oversight.”
– David J. Anderson, Chairman of the Board
“I’m honored to take on this position at an important time for MTS. During my six-year tenure as a director, I have developed a strong understanding of MTS’ strengths and opportunities. I have also been deeply impressed by our division leaders as well as the full executive team and look forward to working with them directly as we continue to execute the Company’s strategy. Our differentiated technology and industry-leading application engineering expertise, deep long-term customer relationships, geographic footprint spanning six continents, and robust employee talent pool give me strong confidence in our long-term prospects.”
– Randy Martinez as Interim President and Chief Executive Officer
“I am confident Randy has the right skills and experience to lead MTS and create value for all our stakeholders. I believe strongly that MTS is well-positioned to execute its strategy and build on its current market momentum.”
– Departing Chief Executive Officer Dr. Jeffrey Graves
