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Benchmark Electronics Inc. has named Paul J. Tufano as president and chief executive officer, replacing Gayla J. Delly who has resigned from her positions as president, CEO and as a member of the board of directors to pursue other interests. The appointment is effective immediately.
Tufano, who joined Benchmark’s board of directors in February 2016, brings broad experience to his new role, having spent over 35 years in the technology and telecommunications industries, most recently serving as chief financial officer of the Alcatel-Lucent Group, a telecommunications company, from 2008 through 2013, where he also served as chief operating officer from 2012-2013. Previously, he was executive vice president and chief financial officer of Solectron Corp., an electronics manufacturing services company, where he also served as interim chief executive officer. Prior to Solectron, Tufano served as president and chief executive officer of Maxtor Corp., a manufacturer of computer hard disk drives, having served previously as chief operating officer and as chief financial officer. Before joining Maxtor, he held management positions in finance and operations at IBM.
Tufano will remain on the company's board of directors as a non-independent member. He holds a bachelor of science degree in economics from St. John's University and an MBA in finance, accounting and international business from Columbia University.
David Scheible, Chairman of the Board of Directors, stated, “On behalf of the Board of Directors and the employees of Benchmark, I want to express my gratitude to Gayla Delly for over 20 years of hard work and dedication to the company. She has helped lead the company and develop the processes that have moved it from a regional electronics company to the world-class, global public company that it is today. We wish her all the best in her new ventures.”
“We are pleased to welcome Paul Tufano to his new role as he builds on the company’s past successes and leads it forward to even greater achievements. The depth and breadth of Paul’s experience are impressive, and we look forward to his expanded influence beyond the boardroom," added Scheible.
“Benchmark, with its unique capabilities, depth of customer relationships and strong balance sheet is well positioned to capitalize on the ongoing evolution of the engineering and manufacturing services industry. I look forward to working with the company's leadership team and its extremely talented employees worldwide, as we unleash Benchmark's potential, delivering innovative customer solutions and creating ever increasing levels of shareholder and employee value,” said Tufano.
The company also reaffirmed its previous guidance for the third quarter:
- Revenue between $570-600 million.
- Diluted GAAP earnings per share between $0.28-0.33.
- Diluted non-GAAP earnings per share between $0.33-0.38 (excluding restructuring charges and amortization of intangibles expected to approximate $0.05 per share). The income tax impact of the non-GAAP adjustments using the applicable effective tax rates is $0.02 per share.
About Benchmark Electronics
Benchmark provides integrated manufacturing, design and engineering services to original equipment manufacturers of industrial equipment (including equipment for the aerospace and defense industries), telecommunication equipment, computers and related products for business enterprises, medical devices, and test and instrumentation products. Benchmark's global operations include facilities in seven countries, and its common shares trade on the New York Stock Exchange under the symbol BHE.