Jasper-based Kimball Electronics Inc. (Nasdaq: KE) has announced Chairman and CEO Donald Charron is retiring at the end of February after nearly 25 years in the post. Richard Phillips, who most recently served as president and CEO of Chicago-based Elkay Manufacturing Co., will assume the role of CEO and a board director.
The company says lead independent director Robert Phillippy will become non-executive chairperson. He’s been a member of the Kimball Electronics board since 2018.
“Today marks the end of an era at Kimball Electronics. It is hard to put into words the profound impact Don has had on each of us, and the company,” said Phillippy. “Under his leadership spanning 24 years, Kimball Electronics has grown from a division of its parent company to a publicly-traded, global enterprise with annual revenues rapidly approaching the $2 billion threshold.”
Charron joined Kimball International in 1999 to lead the Kimball Electronics Group. In 2014, Kimball Electronics spun-off from its parent company and became an independent, publicly-traded company listed on Nasdaq.
“It is with immense gratitude and pride that I say farewell to the Kimball family. Thank you for a journey of a lifetime. I am so proud of what we have accomplished together, and grateful for the support and partnership I received along the way,” said Charron, whose last day will be February 28.
Phillips will take the reins on March 1. He has more than 20 years of executive experience in manufacturing. His previous employer, Elkay Manufacturing, is a global manufacturer of stainless-steel sinks, faucets, and drinking fountains.