James Truchard, CEO and co-founder of National Instruments is set to retire in January. Truchard is set to remain with the company as chairman of the board.
Truchard will be replaced by current COO and CFO Alex Davern.
“It is the right time for me to retire as CEO,” said Truchard said in a statement. “I have worked with Alex Davern for more than 20 years. He is an exceptional leader and business strategist, with a demonstrated track record of success. I have complete confidence in Alex and the rest of the senior leadership team at NI to continue delivering on our consistent track record of innovation, growth and profitability.”
“It has always been my goal for NI to be a company built to last,” Truchard said. “Over the last decade, in the face of a weak industrial economy, I have focused my efforts on helping to ensure that we were making the long-term strategic investments necessary to set NI up for future growth. I believe these major platform investments, in key areas like PXI modular instrumentation, RF measurements, CompactRIO, and our entire software platform, will continue providing NI with disruptive platform capabilities needed to expand our long-term market opportunity. Given our significant progress, much of which was showcased at NIWeek earlier this month, I believe NI is well-positioned for the coming decade.”