Standex has announced that chief financial officer Thomas DeByle will be leaving the company to pursue a new opportunity.
The company had recently promoted DeByle to the newly created role of chief operating officer, with him having been expected to begin that role on September 9, but this move will now not go ahead.
Ademir Sarcevic had already been announced to replace him as CFO, joining from Pentair plc., and DeByle will work closely with him to assure a smooth transition.
David Dunbar, Standex’s president and chief executive officer said: “Tom has been a valuable member of our senior management team for the past 11 years.
“He has been instrumental in helping us gain the financial flexibility to implement our strategy of becoming a more focused industrial company through scaling our growing businesses and continuing our portfolio transformation.
“I greatly appreciate his many contributions and wish him the best in his new endeavor.”
It is not yet clear what will happen with the chief operating officer role that DeByle had been expected to take up.