Littelfuse Announces CEO Retirement and Leadership Transition

On January 10, 2025, David W. Heinzmann, President and Chief Executive Officer of Littelfuse, Inc., notified the company’s Board of Directors of his intention to retire from his position, effective February 10, 2025. Heinzmann will continue to serve the Company as a Special Advisor to the Chief Executive Officer for a transition period post-retirement. Furthermore, he will not seek re-election as a member of the Board at the Company’s 2025 annual meeting of stockholders.

In succession to Mr. Heinzmann, the Board appointed Gregory N. Henderson as the new President and Chief Executive Officer, effective February 10, 2025. Dr. Henderson, 56, has been a Board member since May 2023 and brings a breadth of experience to his new role. Prior to this appointment, Dr. Henderson held prominent positions at Analog Devices, Inc., specializing in data conversion, signal processing, and power management technology.

In regards to the transition details, a Retirement Letter was prepared outlining Mr. Heinzmann’s continuation as a Special Advisor for a term of six to twelve months upon mutual agreement. During this term, Mr. Heinzmann will receive his current base salary and employee benefits but will not be part of the 2025 annual incentive plan or receive equity compensation awards for 2025.

Concurrently, an Offer Letter was signed with Dr. Henderson stipulating his terms as the incoming CEO. Dr. Henderson is set to receive an initial base salary of $1,000,000 per annum, an annual target bonus opportunity, and participate in the Company’s benefit plans and perquisites programs. Dr. Henderson’s employment will be covered by the Company’s Executive Severance Policy with specific conditions.

The Company has decided to delay its Investor Day previously scheduled for February 26, 2025, due to the CEO transition. Littelfuse expressed gratitude for Heinzmann’s leadership over the past eight years and confidence in Dr. Henderson’s ability to further the company’s growth strategy.

For detailed information regarding the Retirement Letter, Offer Letter, and the Company’s press release, interested parties can refer to Exhibits 10.1, 10.2, and 99.1 respectively, in the official SEC filing.

This news was delivered via a press release from Littelfuse, Inc., available for immediate review.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Littelfuse’s 8K filing here.

Littelfuse Company Profile

Littelfuse, Inc designs, manufactures, and sells electronic components, modules, and subassemblies in the Americas, Asia-Pacific, and Europe. The company operates through Electronic, Transportation, and Industrial segments. The Electronics segment offers fuses and fuse accessories, positive temperature coefficient resettable fuses, electromechanical switches and interconnect solutions, polymer electrostatic discharge suppressors, varistors, reed switch based magnetic sensing products, and gas discharge tubes; and discrete transient voltage suppressor (TVS) diodes, TVS diode arrays, protection and switching thyristors, metal-oxide-semiconductor field-effect transistors and diodes, and insulated gate bipolar transistors.