Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On November 15, 2022, Teradyne, Inc. (the "Company" or "Teradyne") was notified
of the decision by Mark E. Jagiela to retire as Chief Executive Officer of the
Company and as a member of the Company's Board of Directors effective
February 1, 2023.
On November 15, 2022, the Company appointed Gregory S. Smith the Chief Executive
Officer of the Company effective February 1, 2023, replacing Mark E. Jagiela.
Mr. Smith also has been appointed to the Company's Board of Directors effective
February 1, 2023. Mr. Smith, 59, joined Teradyne in 2006 and has served as
President of the Company since July 2022 and President of the Company's
Industrial Automation Group since 2020. Mr. Smith served as President of the
Company's Semiconductor Test Division from 2016 to 2020. In January 2023, as
part of its annual review of executive compensation, the Company's Board of
Directors will review Mr. Smith's compensation in connection with his
appointment as Chief Executive Officer of the Company.
Item 8.01. Other Events.
On November 15, 2022, Teradyne issued a press release announcing the retirement
of Mr. Jagiela as Chief Executive Officer and the appointment of Mr. Smith as
the Chief Executive Officer and a Director of the Company. A copy of the press
release is attached hereto as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
99.1 Press Release issued by Teradyne, Inc. on November 15, 2022.
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