- The company appointed Ric Phillips as its next CEO, while Donald D. Charron retires after serving for about a quarter century
- Lead Independent Director, Bob Phillippy will serve as non-executive chairperson of the electronics manufacturing solutions provider
Kimball Electronics, Inc. recently announced that its Chairman and Chief Executive Officer, Donald D. Charron will retire on February 28, 2023. Mr Charron has been serving the company in this position for nearly 25 years. As per the official release, Richard D. Phillips, an accomplished executive and transformational leader across manufacturing, distribution, industrial, consumer, and healthcare, will join Kimball Electronics on March 1, 2023, as Chief Executive Officer and a Director.
New CEO
Notably, Mr Phillips has over two decades of experience in executive and advisory roles. Kimball Mentioned that he was most recently the President and CEO of Elkay Manufacturing Company, a global manufacturer and distributor of commercial and residential plumbing products and designer and installer of commercial interiors for the food service and hospitality sectors.
Thrilled to join the Kimball Electronics family, Mr Phillips said, “The Company has a rich history of excellence and is positioned for growth with near record levels of open order backlog, new program wins, and increased capacity resulting from the recent facility expansions. I’d like to thank Don, his leadership team, and the Board of Directors for the opportunity, and I look forward to working with our global organization, our customers, our vendor partners, and our Share Owners to continue to build on the company’s successes.”
With varied roles in numerous companies, Mr Phillips holds a Bachelor of Science in Finance from Indiana University and a Master of Management from Northwestern University Kellogg Graduate School of Management.
Further, Robert J. Phillippy, lead independent director and a member of the Kimball Electronics Board since 2018, will become the Company’s non-executive Chairperson.
The Journey
The soon-to-retire CEO, Mr Charron joined Kimball International in 1999 to lead the Kimball Electronics Group. The company noted that during his tenure, he strategically positioned Kimball Electronics for success with geographic expansions in Thailand, China, Poland, and Romania, and led its portfolio diversification with applications supporting the automotive, medical, and industrial vertical end markets.
It also observed that when Kimball Electronics spun off from its parent company, Kimball International, and became an independent, publicly-traded company in 2014, Mr Charron was appointed Chairman and Chief Executive Officer. The company took note of various accomplishments throughout its journey with Mr Charron at its helm.
After his retirement announcement, Mr Charron remarked, “It is with immense gratitude and pride that I say farewell to the Kimball family. Thank you for a journey of a lifetime. I am so proud of what we have accomplished together and grateful for the support and partnership I received along the way. It has been a team effort, and I’m leaving with friendships and memories that will last forever. I have been very fortunate to serve the Company during my career, and I’ve never been more excited about the future of Kimball Electronics.”
Kimball believes that he will depart with an impressive legacy of contributions not only to the company but the Electronics Manufacturing Services (EMS) industry.
Kimball Electronics was founded in 1961. It is a global multifaceted manufacturing solutions provider of electronics and diversified contract manufacturing services. Apart from its base in the US, it operates in China, India, Japan, Mexico, Poland, Romania, Thailand, and Vietnam. Kimball Electronics, Inc. is headquartered in Jasper, Indiana.
