Teledyne Technologies Incorporated's (NYSE:TDY) Board of Directors of Teledyne Technologies has named Dr. Robert Mehrabian as the firm's Executive Chairman, effective January 1, 2019.
As Executive Chairman, Mehrabian will remain actively involved with the company with a particular focus on strategy, technology, mergers and acquisitions and margin expansion programs. Dr. Mehrabian's employment contract has been amended and extended an additional four years to December of 2023. In addition, Teledyne's President and Chief Operating Officer, Al Pichelli, will assume the title of President and CEO — Pichelli has entered into an employment agreement through December of 2021.
The company also announced today the following promotions. Jason VanWees, current SVP, Strategy and Mergers & Acquisitions, will become EVP with responsibilities including strategy, margin improvement programs and mergers & acquisitions. Stephen F. Blackwood, current VP and Treasurer, will become SVP and Treasurer, overseeing all banking, procurement and treasury functions. Mr. VanWees will continue to report to Dr. Mehrabian, and Mr. Blackwood will report directly to Dr. Mehrabian on procurement initiatives, effective January 1, 2019.