Tom Deitrich Joins Itron as Chief Operating Officer
October 08 2015 - 4:05PM
Business Wire
Deitrich to Conduct Review of Operational
Processes and Strategies to Enhance Performance and Drive Value
Creation
Itron Retaining Leading Global Consulting Firm
to Support Operational Review
Itron, Inc. (NASDAQ: ITRI), a world-leading technology and
services company dedicated to the resourceful use of energy and
water, announced today Tom Deitrich is joining Itron as executive
vice president (EVP) and chief operating officer (COO). Deitrich’s
appointment will be effective on Oct. 10, 2015 and follows a
previously planned transition of the role announced by the company
on Aug. 5, 2015.
“I am pleased to welcome Tom to Itron’s executive team. With his
proven track record of driving operational excellence and
technology innovation, Tom’s leadership will be instrumental in
improving performance and profitably growing Itron,” said Philip
Mezey, Itron president and chief executive officer. “We are
committed to a comprehensive strategic evaluation of our business
to enhance operational performance and drive value for our
customers and shareholders.”
As one of his first priorities, Deitrich will conduct a thorough
evaluation of Itron’s operations and recommend steps to enhance the
company’s operational and financial performance. Itron also
announced it is finalizing its selection of a leading global
consulting firm to support Deitrich and the company during this
evaluation. The review will focus on:
- Refining Itron’s Manufacturing and
Supply Chain Strategy: Itron will conduct a comprehensive
evaluation of its manufacturing strategy, as well as review the
effectiveness of its manufacturing footprint and supply chain to
identify opportunities to further balance capacity and strategic
sourcing, optimize inventory efficiency, enhance quality and lower
costs.
- Improving R&D Efficiency:
Itron will conduct a comprehensive evaluation of its R&D
processes and programs to identify opportunities to enhance
efficiency and maximize returns on the company’s R&D
investments. Global adoption of smart metering and smart grids is
accelerating, and Itron will continue to target investments in
innovative hardware, networks, software and services that enable
smart cities, power the Internet of Things and best position the
company for future growth.
In addition to the company’s evaluation of operational processes
and strategies, Itron will continue with its restructuring
initiatives already underway including the closure of facilities in
Brazil, Italy, South Africa, and Saudi Arabia. Itron remains on
track to achieve the previously announced $40 million of annualized
savings beginning in 2017, which the company anticipates will
deliver a positive long-term impact on Itron’s margins and
profitability. The company is committed to identifying new
operational benefits and cost saving opportunities through the
review process.
“Since being appointed as Itron’s next COO, I have had the
opportunity to become even more familiar with this innovative and
exciting company,” said Deitrich. “Itron is a very strong company
with unmatched breadth of technology, deep industry expertise and
unique solutions for the many business challenges our customers
face. Executing these initiatives will generate greater value for
all of our stakeholders and position Itron for the future. I look
forward to moving quickly to help Itron achieve the success and
profitability it is poised to realize.”
About Tom Deitrich
Deitrich brings more than 20 years of experience in global
operations at leading technology firms and has held a number of
executive management roles where he led business-level strategies
that transformed and significantly grew organizations during times
of changing market conditions. Deitrich has held executive and
senior leadership positions at, among other companies, Freescale
Semiconductor, Inc., Flextronics International, Inc., Sony Ericsson
Mobile Communications, Inc., and General Electric Corporation.
About Itron
Itron is a world-leading technology and services company
dedicated to the resourceful use of energy and water. We provide
comprehensive solutions that measure, manage and analyze energy and
water. Our broad product portfolio includes electricity, gas, water
and thermal energy measurement devices and control technology;
communications systems; software; as well as managed and consulting
services. With thousands of employees supporting nearly 8,000
customers in more than 100 countries, Itron applies knowledge and
technology to better manage energy and water resources. Together,
we can create a more resourceful world. Join us: www.itron.com.
Itron® is a registered trademark of Itron, Inc.
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version on businesswire.com: http://www.businesswire.com/news/home/20151008006333/en/
Itron, Inc.Sharelynn MooreVice President, Corporate
Marketing and Public
Affairs509-891-3524sharelynn.moore@itron.comorBarbara DoyleVice
President, Investor
Relations509-891-3443barbara.doyle@itron.com
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