Exhibit 99.1
FOR IMMEDIATE RELEASE
For more information, contact:
Andrew Blanchard
Investor Relations
Tel 978.370.2425
investorrelations@teradyne.com
Teradyne Announces CEO Succession
NORTH READING, Mass. – November 15, 2022 – The Teradyne (Nasdaq: TER) Board of Directors today named Gregory Smith to succeed Mark E. Jagiela as CEO effective February 1, 2023. Mr. Smith will join the Board of Directors on the same date.
Mr. Smith is currently the Company’s President and a sixteen year veteran of Teradyne. Prior to his promotion to Company President earlier in 2022, he held a variety of management roles until his appointment in 2016 as President of the Semiconductor Test Division, the company’s largest operating unit. In 2020, Greg became President of Teradyne’s newly created Industrial Automation Group to further the company’s leadership in the emerging markets for collaborative robots and autonomous mobile robots.
Mr. Jagiela’s forty-plus year career at Teradyne started right out of college as a design engineer for semiconductor test equipment. He subsequently held a variety of roles in the company, including ten years as General Manager of Teradyne’s Japan Division and ten years as the Semiconductor Test Division President. Mr. Jagiela became Teradyne CEO in 2014 and will retire effective February 1, 2023.
“Mark has been an incredibly effective leader of Teradyne and leaves the company on a solid footing for future growth,” said Teradyne Chairman Paul Tufano. “Through his leadership the company delivered a steady progression of industry leading products and improved financial performance in its core test businesses and added a new growth vector to the company with its entry into the Industrial Automation industry. As Greg takes over as CEO, he does so with a deep understanding of the technical and commercial aspects of our test and Industrial Automation businesses and with a proven track record as a company leader.”
