X-Rite announces new CEO
Sep 25, 2006 12:38 PM
The board of directors for X-Rite, Inc., (Grandville, MI), have announced the implementation of the planned CEO succession that was outlined at the time of the Amazys acquisition in January.
Effective October 1, 2006 Michael C. Ferrara will retire from his positions of CEO and board member, and Thomas J. Vacchiano Jr. will become president and CEO as well as a board member. Tom Vacchiano was the president and CEO of Amazys Holding AG from January 2001 until the acquisition by X-Rite in July of this year. Ferrara will remain available to consult on the transition through the end of this year.
“The CEO transition was planned as a part of the Amazys acquisition, and the timing of the change permits the new leadership team to develop and own the 2007 operating plan,” says John E. Utley, chairman of the board. “Further, we expect that this clarity of leadership will facilitate the progress of our integration effort.”
Tom and his family will be relocating to the Michigan area in early 2007 coinciding with the planned opening of X-Rite’s new world headquarters in Kentwood, MI.
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