Benchmark Electronics Announces Retirement of CEO and Founder Cary Fu; Gayla Delly to Succeed as CEO
ANGLETON, Texas, Nov. 8, 2011 /PRNewswire/ -- Benchmark Electronics, Inc. (NYSE: BHE) announced today that co-founder Cary T. Fu has decided to retire from the Company effective December 31, 2011. Mr. Fu has agreed to provide consulting services to Benchmark through 2014, and he will continue to serve as Chairman of the Board through the end of 2012. The Company further announced that Ms. Gayla Delly, President of the Company, will succeed Mr. Fu as CEO effective January 1, 2012. Also, effective the date of this press release, Ms. Delly is appointed to serve as a member of the Company's Board of Directors.
"More than twenty-five years ago, I founded Benchmark with two colleagues," said Fu. "Over the course of this time, we have built a strong, diversified company that is well positioned for the future. We have achieved this due to the support of our employees, customers, and investors, and I would like to take this opportunity to thank them. This is an appropriate time for me to turn over the leadership of the Company to Gayla Delly. Gayla is an outstanding choice; she has prepared to become CEO for many years and she has all the skills, experience, passion, and values to lead Benchmark to the next level of growth. I have complete confidence in Gayla and therefore have decided to proceed with my retirement plans, even in the midst of our recovery from the unprecedented flooding in Thailand."
"Benchmark has a tremendous future and significant opportunities ahead," said Delly. "Cary has provided great leadership from the beginning and as a result of his insightful guidance, Benchmark has transformed from a start-up company into a Fortune 1000 global service provider. I have enjoyed working closely with Cary for many years, and I am so excited to take on this new role," Delly continued. "Benchmark is poised for remarkable expansion and I am personally and deeply committed to taking the Company to its next level of growth."
Ms. Delly has been with the Company since 1995. She began as the Company's Corporate Controller and Treasurer, and in 2001, she was appointed as Chief Financial Officer. She was promoted to President of the Company in 2008. She has extensive industry experience and is highly respected both within and outside the Company. Ms. Delly also currently serves as a member of the board of directors of Flowserve Corporation.
Benchmark Electronics, Inc. provides integrated electronics manufacturing, design and engineering services to original equipment manufacturers of computers and related products for business enterprises, medical devices, industrial control equipment, which includes equipment for the aerospace and defense industry, testing and instrumentation products, and telecommunication equipment. Benchmark's global operations include 21 facilities in ten countries. Benchmark's Common Shares trade on the New York Stock Exchange under the symbol BHE.
SOURCE Benchmark Electronics, Inc.