Vishay Intertechnology Appoints David McConnell Chief Financial Officer
February 27 2024 - 4:15PM
Vishay Intertechnology, Inc. (NYSE: VSH) today announced that its
Board of Directors has appointed David McConnell, Senior Vice
President -Corporate Treasurer and Risk Management, to the role of
Executive Vice President - Chief Financial Officer, replacing Lori
Lipcaman who is resigning from that position. In addition, David
Tomlinson, Senior Vice President - Corporate Controller, has been
promoted by the Board to the newly created role of Senior Vice
President - Chief Accounting Officer reporting to Mr. McConnell.
The new positions of Mr. McConnell and Mr. Tomlinson will take
effect on March 1, 2024.
“The appointment of Dave McConnell as CFO and promotion of Dave
Tomlinson to the newly created role of CAO strengthens Vishay’s
leadership team as we create a new Vishay that is business minded
and puts the customer first in everything we do,” said President
and CEO Joel Smejkal.
“Dave McConnell is a seasoned, dynamic and trusted leader within
our finance organization. He possesses the necessary business
understanding of Vishay’s global operations to collaborate
effectively with business unit heads and functional leaders in
developing Vishay’s multi-year strategic and operational plans to
take full advantage of the mega trends in connectivity, e-mobility
and sustainability. Dave Tomlinson’s proven accounting management
and financial reporting capabilities and extensive experience with
Vishay’s global operations have been and will be instrumental to
our efforts to enhance our financial analytics and decision-making
tools to support Vishay’s re-orientation from a cash flow managed
business to P&L driven company,” added Mr. Smejkal.
“Both Dave McConnell and Dave Tomlinson have embraced the
organizational changes that are driving Vishay’s ambition to
accelerate growth and optimize returns and I am confident they will
have a positive impact on the organization and help us achieve our
goals.”
“Lori Lipcaman has served Vishay extremely well over her 35-year
career at the company, and on behalf of the Board and entire
organization I wish to extend my appreciation to her for her
abiding dedication and commitment to Vishay,” said Mr. Smejkal.
David McConnell, 57, has been Senior Vice President-
Corporate Treasurer and Risk Management since January 2016. Mr.
McConnell has held various positions of increasing responsibility
since joining Vishay in 1992 including Vice President - Corporate
Treasurer (2011-2015) and Vice President Financial Analysis and
Cash management (2008 – 2011), and various roles in corporate,
regional and divisional finance. Prior to joining Vishay in 1992,
Mr. McConnell worked at Ernst & Young LLP serving large,
multi-national clients in various industries. Mr. McConnell is a
Certified Public Accountant in Pennsylvania.
David Tomlinson, 49, has been Senior Vice President - Corporate
Controller since November 2009. Mr. Tomlinson has held various
positions of increasing responsibility since joining Vishay in
2003, including Vice President - Assistant Corporate Controller
(2005-2009) and Director of Financial Reporting for both Vishay and
its then-majority-owned subsidiary Siliconix incorporated. Prior to
joining Vishay, Mr. Tomlinson worked at PricewaterhouseCoopers LLP
serving large, multi-national clients in various industries. Mr.
Tomlinson is a Certified Public Accountant in Pennsylvania.
About Vishay
Vishay manufactures one of the world’s largest portfolios of
discrete semiconductors and passive electronic components that are
essential to innovative designs in the automotive, industrial,
computing, consumer, telecommunications, military, aerospace, and
medical markets. Serving customers worldwide, Vishay is The
DNA of tech.® Vishay Intertechnology,
Inc. is a Fortune 1,000 Company listed on the NYSE (VSH). More on
Vishay at www.Vishay.com.
Statements contained herein that relate to the Company's
executive leadership and strategic plans are forward-looking
statements within the safe harbor provisions of Private Securities
Litigation Reform Act of 1995. Words such as “will be,” “will,”
“plan,” “assume,” “intend,” or other similar words or expressions
often identify forward-looking statements. Such statements are
based on current expectations only, and are subject to certain
risks, uncertainties and assumptions, many of which are beyond our
control. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results, performance, or achievements may vary materially
from those anticipated, estimated or projected. Among the factors
that could cause actual results to materially differ include:
general business and economic conditions; manufacturing or supply
chain interruptions or changes in customer demand because of
COVID-19 or otherwise; delays or difficulties in implementing our
cost reduction strategies; delays or difficulties in expanding our
manufacturing capacities; an inability to attract and retain highly
qualified personnel; changes in foreign currency exchange rates;
uncertainty related to the effects of changes in foreign currency
exchange rates; competition and technological changes in our
industries; difficulties in new product development; difficulties
in identifying suitable acquisition candidates, consummating a
transaction on terms which we consider acceptable, and integration
and performance of acquired businesses; changes in U.S. and foreign
trade regulations and tariffs, and uncertainty regarding the same;
changes in applicable domestic and foreign tax regulations, and
uncertainty regarding the same; changes in applicable accounting
standards and other factors affecting our operations that are set
forth in our filings with the Securities and Exchange Commission,
including our annual reports on Form 10-K and our quarterly reports
on Form 10-Q. We undertake no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
The DNA of tech® is a trademark of Vishay
Intertechnology.
Contact:Vishay Intertechnology, Inc.Peter HenriciExecutive Vice
President, Corporate Communications+1-610-644-1300
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