• After almost 38 years in the position
• Search for a successor
• Chopra will remain as Executive Chairman at OSI Systems

(exechange) — Hawthorne, California, May 3, 2024 — Deepak Chopra, chief executive of OSI Systems, is set to leave his position. As announced by OSI Systems Inc. in a news release and in a regulatory filing published on Friday, May 3, 2024, Deepak Chopra leaves his post as chief executive officer at the specialist in inspection systems such as airport security X-ray machines and metal detectors, after almost 38 years in the role, effective by the end of the current calendar year, after the appointment of a successor.

It is the end of an era.

OSI Systems will undertake a search for a successor.

No reason given

In the announcement, OSI Systems did not explicitly explain the reason for the move.

Chopra will remain as Executive Chairman at OSI Systems

OSI Systems stated: “Following his retirement as President and CEO, Mr. Chopra will continue to work with the Company as Executive Chairman of the Board.”

Share price increase since May 2023

The announcement follows an increase in OSI Systems Inc.’s share price of 15% since May 2023.

In the position of CEO since 1987

Deepak Chopra became CEO of the Company in 1987.

Chopra is the Company’s founder and has served as President, Chief Executive Officer and has been a member of the Company’s Board since the Company’s inception in May 1987.

He has served as the Company’s Chairman of the Board since February 1992.

Chopra also serves as the Chief Executive Officer of several of the Company’s major subsidiaries.

From 1976 to 1979 and from 1980 to 1987, Chopra held various positions with ILC, a publicly held manufacturer of lighting products, including serving as Chairman of the Board of Directors, Chief Executive Officer, President and Chief Operating Officer of its United Detector Technology division.

In 1990, the Company acquired certain assets of ILC’s United Detector Technology division.

Chopra has also held various positions with Intel Corporation, TRW Semiconductors and RCA Semiconductors.

Chopra holds a Bachelor of Science degree in Electronics from Punjab Engineering College in Chandigarh, Punjab, India and a Master of Science degree in Semiconductor Electronics from the University of Massachusetts, Amherst.

No statement by Deepak Chopra

The announcement of his departure as CEO does not include a statement by Deepak Chopra.

The above text is an excerpt from the exechange report 19.2024 ($), publication date May 6, 2024.