- Push-out Score determined
- After almost 15 years in the position
- Praise and thanks for Stroup
- Roel Vestjens taking over
- Stroup will remain as Executive Chairman at Belden
- Stroup said 117 words
(exechange) — St. Louis, Missouri, May 21, 2020 — John Stroup, chief executive of Belden, leaves his position. As announced by Belden Inc. in a news release on Thursday, May 21, 2020, John S. Stroup leaves his post as chief executive officer at the manufacturer of networking, connectivity, and cable products after almost 15 years in the role, effective immediately.
John Stroup’s duties as CEO will be taken over by Roel Vestjens, most recently Chief Operating Officer of Belden Inc.
“Culmination of a robust process”
John Stroup’s departure from the CEO post is explained as follows. David Aldrich, Lead Independent Director of Belden, said: “The leadership succession plan announced today is the culmination of a robust process to ensure that Belden is best positioned to deliver sustainable long-term value creation.”
Precise information regarding John Stroup’s future plans was not immediately available.
Belden said: “Belden Inc. (NYSE: BDC), a leading global supplier of specialty networking solutions, announced today the following changes to the Company’s senior leadership team with immediate effect. John Stroup, previously President, Chief Executive Officer and Chairman of the Board of Directors, has been appointed Executive Chairman, and Roel Vestjens, previously Executive Vice President and Chief Operating Officer, has been promoted to President and Chief Executive Officer and appointed to the Board of Directors.”
Share price decline
The announcement follows a decline in Belden Inc.’s share price of 56% since May 2017.
In the position of CEO since 2005
John Stroup became CEO of the Company in 2005.
Stroup was appointed President, Chief Executive Officer and member of the Board effective October 31, 2005.
He was elected Chairman of the Board on November 30, 2016.
From 2000 to the date of his appointment with the Company, he was employed by Danaher Corporation, a manufacturer of professional instrumentation, industrial technologies, and tools and components.
At Danaher, he initially served as Vice President, Business Development.
He was promoted to President of a division of Danaher’s Motion Group and later to Group Executive of the Motion Group.
Earlier, he was Vice President of Marketing and General Manager with Scientific Technologies Inc.
Stroup received a B.S. degree in mechanical engineering from Northwestern University and an M.B.A. degree from the University of California at Berkeley.
Stroup is a director of RBS Global, Inc.
RBS Global manufactures power transmission components, drives, conveying equipment and other related products under the Rexnord name.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Belden and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 21.2020 ($).