- After about two years in the position
- Edwin Roks taking over
- Mehrabian will remain as Executive Chairman at Teledyne
- Mehrabian kept it short and said 36 words
(exechange) — Thousand Oaks, California, October 24, 2023 — Robert Mehrabian, chief executive of Teledyne, leaves his position. As announced by Teledyne Technologies Inc. in a news release and in a regulatory filing published on Tuesday, October 24, 2023, Robert Mehrabian leaves his post as chief executive officer at the provider of digital imaging products, after about two years in the role, effective December 31, 2023.
Robert Mehrabian’s duties as CEO will be taken over by Edwin Roks, currently Executive Vice President and head of the Digital Imaging Segment at Teledyne Technologies Inc.
George C. Bobb III will assume the role of President and Chief Operating Officer.
No reason given
In the announcement, Teledyne did not explicitly explain the reason for the move.
Mehrabian will remain as Executive Chairman at Teledyne
Teledyne stated: “Robert Mehrabian will be named Executive Chairman, effective January 1, 2024. As Executive Chairman, Dr. Mehrabian will remain actively involved with the company with a particular focus on strategy, technology, mergers and acquisitions and margin expansion programs. Dr. Mehrabian’s employment contract has been amended and extended an additional three years to December 2026.”
Share price increase since October 2022
The announcement follows an increase in Teledyne Technologies Inc.’s share price of 11% since October 2022.
In the position of CEO since 2021
Robert Mehrabian became CEO of the Company in 2021.
Robert Mehrabian is the Chairman, President and Chief Executive Officer of Teledyne Technologies Incorporated.
Prior to resuming the roles of Chairman, President and Chief Executive Officer effective October 15, 2021, he served as Executive Chairman since January 1, 2019.
Prior to January 1, 2019, he was Teledyne’s Chairman, President and Chief Executive Officer since 2000 (and was President and Chief Executive Officer since Teledyne’s formation in 1999).
Prior to the spin-off of the Company by Allegheny Technologies Incorporated (ATI) in November 1999, Mehrabian was the President and Chief Executive Officer of ATI’s Aerospace and Electronics segment since July 1999 and had served ATI in various senior executive capacities since July 1997.
Before joining ATI, Mehrabian served as President of Carnegie Mellon University. From 1992 until April 2014, he served as a director of PPG Industries, Inc.
Mehrabian served as a director of Mellon Financial Corporation from 1994 to 2007 and served as director of its successor The Bank of New York Mellon Corporation until April 2011.
He is a member of The National Academy of Engineering.
36 words by Robert Mehrabian
In announcing his departure, Robert Mehrabian kept it short and said 36 words.
“Continue the development and execution of Teledyne’s growth strategy”
Robert Mehrabian stated: “I want to congratulate Edwin and George on their well-deserved promotions to CEO and President and COO, respectively. I will work side by side with them to continue the development and execution of Teledyne’s growth strategy.”
Push-out Score for Robert Mehrabian’s move determined
The Push-out Score indicates on a scale of 0 to 10 how likely it is that Robert Mehrabian was pushed out or felt pressure to leave his position.
exechange reached out to Teledyne and offered the company the opportunity to comment on the score.
Corrections & amplifications
As of the date of the company’s latest proxy filing, Robert Mehrabian was 81 years old, and Edwin Roks was 58 years old. The age difference is therefore around 23 years. An earlier version of this article incorrectly said that the age difference between Robert Mehrabian and Edwin Roks was about 26 years. (Corrected on October 25, 2023.)
Read the full story in the exechange report 44.2023 ($).