Belden (NYSE: BDC), a global supplier of specialty networking technology, announced on Feb. 17 that the company's executive chairman, John Stroup, has notified the company's board of directors of his intention to retire from Belden and its board in May, following its annual meeting of shareholders.
Stroup served as Belden’s chief executive officer from October 2005 until May 2020, when he was appointed executive chairman and Roel Vestjens succeeded him as the company's president and CEO. Stroup was elected chairman of the board in November 2016. Belden’s lead independent director, David Aldrich, will be appointed chairman of the board in May.
“It has been a privilege to lead this great company and its board of directors. I am proud of what we accomplished and how well-positioned Belden is for continued success,” commented Stroup. “This is an exciting time for the company, and I could not be more pleased with the CEO transition process. I am certain that under Roel’s leadership and the collective guidance of the board, the company will continue to thrive.”
Belden's Vestjens said, “Under John’s strong leadership, we established Belden as a clear industry leader with a portfolio of great products and technologies, and positioned the company for profitable growth. John was instrumental in driving growth, innovation, and operational improvement at Belden, and his significant contributions will have a lasting impact. I thank John for his many outstanding accomplishments, and I am extraordinarily grateful for his mentorship over the years.”
David Aldrich, lead independent director of Belden, concluded, “On behalf of our board of directors, I want to congratulate John on his highly distinguished career and offer our most sincere appreciation for his extraordinary leadership over the years as CEO and chairman. During his tenure, we made great progress in transforming the company and building a solid foundation for sustainable long-term value creation.”
For more information, visit www.belden.com.