Cognex CFO Dick Morin leaves abruptly

  • Signs for push-out forces
  • After 18 years on the job
  • Laud and praise for Morin
  • John Curran taking over

(management-change.com) — Natick, Massachusetts, February 16, 2017 — Dick Morin, finance chief of Cognex, leaves. It is an abrupt change. As announced by Cognex Corporation in a news release and in a regulatory filing published on Thursday, February 16, 2017, Richard A. (Dick) Morin leaves the post as Chief Financial Officer at the manufacturer of machine vision systems after 18 years on the job, effective February 17, 2017.

It is the end of an era.

Morin’s duties are taken over by John J. Curran, most recently Senior Vice President of Finance at Cognex Corporation.

“Retirement”

Cognex said: “Cognex Corporation … has announced the retirement of Richard A. Morin, Executive Vice President of Finance and Administration and Chief Financial Officer, after 18 years with the company.”

Share price rise since January 2016

The change follows a rise in the share price of Cognex Corporation since January 2016.

Chaired by Robert J. Shillman

Cognex Corporation is chaired by Robert J. Shillman.

Shillman, known to many as “Dr. Bob,” founded Cognex in 1981, and served as the company’s Chief Executive officer from 1981 until March 2011, when, upon his recommendation, Robert Willett was promoted to fill that role.

CEO: Robert Willett

Robert J. Willett serves as CEO of Cognex Corporation. Willett has been Chief Executive Officer of Cognex since March 2011. He joined Cognex in June 2008 as the President of the Modular Vision Systems Division (MVSD), and was promoted to President and Chief Operating Officer in January 2010.

On the job as CFO since 1999

Morin was responsible for the company’s Finance, Investor Relations, Information Technology, Facilities, Tax, Treasury, and Legal departments.

Morin joined Cognex in 1999 after 10 years as Chief Financial Officer for C & K Components, Inc., an international manufacturer of electronic components and security systems, where he led the company’s growth from $100 million to $200 million in revenue.

Morin also served as Corporate Controller and Vice President of Finance for Jamesbury Corporation.

He holds a BA in economics and accounting from The College of the Holy Cross, and is a Certified Public Accountant.

Morin will remain with Cognex full time through the end of March to ensure a smooth transition; after his retirement he will continue with the company as Secretary of Cognex’s Board of Directors.

Signs for push-out forces

It is not completely certain what forces eventually triggered Dick Morin’s move.

The Push-out Score™ determined by management-change.com suggests that push-out forces may have contributed to the management change.

Read the full story in the management-change.com report 08.2017 ($).