- After 39 years on the job
- Accolades and praise for Vahaviolos
- Vahaviolos will remain as Executive Chairman at Mistras
- Vahaviolos spoke at length and said 184 words
(exechange) — Princeton Junction, New Jersey, August 08, 2017 — Sotirios Vahaviolos, chief executive of Mistras, hands over the reins. It is a change at short notice. As announced by Mistras Group, Inc. in a news release published on Monday, August 07, 2017 and in a regulatory filing published on Tuesday, August 08, 2017, Sotirios Vahaviolos leaves the post as Chief Executive Officer at the engineering services company after 39 years on the job, effective August 10, 2017.
It is the end of an era.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, only 35 percent of the CEOs who departed over the past twelve months left after more than ten years. Overall, the average tenure of those who left was 8.6 years, according to data compiled by exechange.
Vahaviolos’ duties are taken over by Dennis Bertolotti, currently Chief Operating Officer at Mistras Group, Inc.
“Part of a succession plan that the Board and I have been working on for several years”
The imminent management change is explained as follows. Vahaviolos said: “The appointment of Dennis Bertolotti as CEO is part of a succession plan that the Board and I have been working on for several years.”
Vahaviolos will remain as Executive Chairman at Mistras
“Dr. Vahaviolos will remain active in the business as Executive Chairman, focusing on strategy and technology, and will continue to lead the Board of Directors,” Mistras said.
Mistras said: “Dr. Sotirios Vahaviolos, the Company’ Chairman and CEO, resigned from his CEO position.”
On the job as CEO since 1978
Sotirios J. Vahaviolos has served as the Company’s Chairman, President and Chief Executive Officer since he founded Mistras in 1978 under the name Physical Acoustics Corp.
Prior to joining Mistras, Vahaviolos worked at AT&T Bell Laboratories.
Vahaviolos received a BS in Electrical Engineering and graduated first in his class from Fairleigh Dickinson University and received a Master of Science (EE), Masters in Philosophy and a Ph.D.(EE) from the Columbia University School of Engineering.
During Vahaviolos’ career in NDT, he has been elected Fellow of The Institute of Electrical and Electronics Engineers, a member of The American Society for Nondestructive Testing (ASNT) where he served as its President from 1992-1993 and its Chairman from 1993-1994, a member of Acoustic Emission Working Group (AEWG) and an honorary life member of the International Committee for Nondestructive Testing.
Additionally, he was the recipient of ASNT’s Gold Medal in 2001 and AEWG’s Gold Medal in 2005.
He was also one of the six founders of NDT Academia International in 2008.
Read the full story in the exechange report 33.2017 ($).