Keysight Technologies (NYSE: KEYS) on Friday announced today that President and Chief Executive Officer Ron Nersesian, has been appointed chairman of the company’s board of directors, effective immediately.
In the announcement from the Santa Rosa-based maker of electronic test and measurement equipment and software, former Chairman Paul Clark said the board unanimously elected Nersesian to the position.
“This expanded role recognizes Keysight’s strong performance over the last five years,” Clark said.
Nersesian has been president and CEO since 2014, when Keysight spun out of Agilent Technologies as an independent public company.
Clark will assume the role of lead independent director, the company said. His responsibilities will include “setting the agenda for board of directors meetings with Nersesian, liaising between the chairman and independent directors, presiding over meetings of independent directors, and advising on shareholder engagement and governance.”
The company has shown strong financial performance recently. Third-quarter revenue, reported in August, clocked in at $1.09 billion, up from $1.00 billion a year before. Quarterly net income was $159 million, or $0.83 per share, up from $121 million, or $0.63 per share, in the third quarter of 2018.