- Push-out Score determined
- After 18 years in the position
- Praise, thanks and good wishes for Paul
- Joel Smejkal taking over
- Paul said 109 words
(exechange) — Malvern, Pennsylvania, February 22, 2022 — This news came shortly after Presidents’ Day. Gerald Paul, chief executive of Vishay, leaves his post. His departure is made public at an early stage. As announced by Vishay Intertechnology Inc. in a news release and in a regulatory filing published on Tuesday, February 22, 2022, Gerald Paul leaves his post as chief executive officer at the manufacturer of discrete semiconductors and passive electronic components, after 18 years in the role, effective December 31, 2022.
It is the end of an era.
It is a long goodbye. The announcement of Gerald Paul’s move comes up to 10 months prior to his planned departure from the post of CEO.
In general, a top executive who announces the departure particularly early may be considered a lame duck.
Gerald Paul’s duties as CEO will be taken over by Joel Smejkal, currently Executive Vice President, Corporate Business Development at Vishay Intertechnology Inc.
Gerald Paul’s move coincides with a management shake-up also involving the position of Chief Operating Officer. In addition, the Board has appointed Jeff Webster, Executive Vice President, Business Head Passive Components, to the newly created position of Chief Operating Officer, reporting to the Chief Executive Officer.
“To ensure a smooth evolution of Vishay’s strategic priorities”
Vishay did not give an explicit reason for Gerald Paul’s departure from the CEO post. Vishay said: “In anticipation of Dr. Paul’s eventual retirement, the Board’s independent Nominating and Corporate Governance Committee, in conjunction with the Board of the Directors, has been engaged in succession planning for some time to ensure a smooth evolution of Vishay’s strategic priorities. Both Mr. Smejkal and Mr. Webster are veteran executives at Vishay who were promoted to their current positions in 2020.”
Precise information regarding Gerald Paul’s future plans was not immediately available.
Vishay said: “Dr. Gerald Paul has decided to retire as President and Chief Executive Officer and as a member of the Board of Directors on December 31, 2022.”
Share price decline since February 2021
The announcement follows a decline in Vishay Intertechnology Inc.’s share price of 11% since February 2021.
In the position of CEO since 2005
Gerald Paul became CEO of the Company in 2005.
Gerald Paul was appointed Chief Executive Officer effective January 1, 2005.
Paul has served as a Director of the Company since 1993, and has been President of the Company since March 1998.
Paul also was Chief Operating Officer from 1996 to 2006.
Paul previously was an Executive Vice President of the Company from 1996 to 1998, and President of Vishay Electronic Components, Europe from 1994 to 1996.
Paul has been Managing Director of Vishay Electronic GmbH, a subsidiary of the Company, since 1991.
Paul has been employed by Vishay and a predecessor company since 1978.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Gerald Paul’s move on a scale of 0 to 10.
exechange reached out to Vishay and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 9.2022 ($).