inTEST Corp.’s Matthiessen to Retire as President & CEO

On Oct 23, 2017

inTEST Corporation of Mount Laurel announces that Executive Chairman, President & CEO Robert E. Matthiessen will retire from his positions as president & CEO at the end of 2017, after leading the organization for 20 years. Matthiessen will continue to serve as inTEST’s Chairman of the Board.  The Board of Directors has appointed James Pelrin as the company’s next President & CEO, effective Jan. 1.  Pelrin currently serves as executive vice president and COO, and is a director of the Company.

During Matthiessen’s tenure, inTEST has:

• Successfully acquired six companies and made technology investments which have led to new markets, as well as revenue and margin expansion;
• Broadened customer diversification, thereby lessening its dependence on the highly cyclical semiconductor market, and increasing presence in growth markets; and
• Positioned itself to successfully deliver profits and generate cash even during cyclical and seasonal ATE downturns.

For more than 25 years, Matthiessen has lent his considerable skills and experience in leading inTEST.  He has served as the company’s president and as a Director since 1997, CEO since August 1998, and executive chairman since May 2017.  Prior to that, he served as the COO & executive vice president, having joined inTEST in 1984.

“Bob has expertly piloted the company to significant growth and success during his tenure, leading a talented management team in the delivery of consistent returns to inTEST shareholders,” said William Kraut, the Board’s Lead Independent Director.  “Under his leadership, inTEST has grown through strategic acquisitions, organic growth and a continued focus on new product innovation.  We are very pleased to have Bob’s continued guidance in his role as Chairman of the Board.”

Kraut added, “I am equally confident in the leadership capabilities of James Pelrin, who brings considerable success as he assumes the role of president & CEO.”  Pelrin has served inTEST in various executive roles for the past 16 years, culminating in his appointment to executive vice President in November 2015, and Chief Operating Officer and Director in May 2017.  He joined the company in 2001 as general Manager of Temptronic Corporation, eventually being named president of that subsidiary.  In 2006, he became corporate vice president of inTEST’s thermal products segment.  Kraut added, “Jim’s excellent performance, along with his successful experience in running the company’s thermal products segment, positions inTEST to continue to deliver outstanding results to our shareholders.  inTEST is in excellent hands.”

Matthiessen noted, “It has been my distinct honor to lead inTEST alongside our dedicated employees around the world, and I am proud to continue serving the company and its stakeholders as chairman of the Board.  Since the company’s inception 36 years ago, quality and innovation have been the hallmark of our endeavors.  As Jim takes the helm, I am confident that inTEST will continue its growth trajectory as he and the team build on our strong foundation of success.”

“It is an exceptional honor to be appointed as the next president & CEO of inTEST,” said Pelrin. “I have been privileged to work with inTEST employees in the support of our customers, and I look forward to leading our dedicated team as we build upon our accomplishments.  I am certain we are well positioned for future success in the years to come as we further grow and transform inTEST into a broad-based thermal solutions company, while continuing to supply our valued customers in the semiconductor test arena.”

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