NI elects Alex Davern as CEO and President

NI has announced that its Board of Directors has elected Alex Davern to serve as Chief Executive Officer and President of National Instruments, effective January 1, 2017. Davern will succeed Dr James Truchard who has served as the Chief Executive Officer of NI since the company's founding in 1976. Dr Truchard will remain as Chairman of the Board. The Board of Directors plans to appoint Davern to the Board by the end of January 2017. This transition is being undertaken as part of the Board's succession planning process.

"It has always been my goal for NI to be a company built to last," said Dr James Truchard, CEO & Co-Founder. "Over the last decade, in the face of a weak industrial economy I have focussed my efforts on helping to ensure that we were making the long-term strategic investments necessary to set NI up for future growth. It is the right time for me to retire as CEO. I have worked with Alex Davern for more than 20 years. He is an exceptional leader and a 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."

"As a company built to last, Dr Truchard has built an extremely capable senior leadership team over the years, and I am honoured and excited to lead NI into its next phase of growth and profitability," said Davern. "Our differentiated platform and ecosystem coupled with our strong business model, give us the opportunity to be the preeminent company in test, measurement and control." Davern has served as Chief Operating Officer of NI since 2010, and Chief Financial Officer since 1997. Davern, and the rest of the senior management team, including Jeff Kodosky, Co-Founder, Fellow, and Board Member of NI; Eric Starkloff, Executive VP of Global Sales and Marketing; Scott Rust, Senior VP of R&D; and Duncan Hudson, Chief Platform Officer, have over 100 years of experience at NI, working closely with Dr Truchard.

In the light of Davern's promotion, the company will start the process of considering candidates to serve as Chief Financial Officer and expects to complete the process by the end of 2016.