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NI Announces CEO Transition Plan to Position Company for Next Phase of Growth

AUSTIN, Texas--(BUSINESS WIRE)--NI (Nasdaq: NATI), the provider of platform-based systems that enable engineers and scientists to solve the world’s greatest engineering challenges, today announced that its Board of Directors has elected Alex Davern, age 49, to serve as Chief Executive Officer and President of National Instruments, effective January 1, 2017. Davern will succeed Dr. James Truchard, age 73, 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 Mr. Davern to the Board by the end of January 2017. This transition is being undertaken as part of the Board’s succession planning process.

“As a company built to last, Dr. Truchard has built an extremely capable senior leadership team over the years, and I am honored and excited to lead NI into its next phase of growth and profitability”

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“It has always been my goal for NI to be a company built to last,” said Dr. James Truchard, CEO and co-founder. “Over the last decade, in the face of a weak industrial economy I have focused my efforts on helping to ensure that we were making the long-term strategic investments necessary to set NI up for future growth. I believe these major platform investments, in key areas like PXI modular instrumentation, RF measurements, CompactRIO, and our entire software platform, will continue providing NI with disruptive platform capabilities needed to expand our long-term market opportunity. Given our significant progress, much of which was showcased at NIWeek earlier this month, I believe NI is well-positioned for the coming decade.”

Truchard continues, “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 business strategist, with a demonstrated track record of success. I have complete confidence in Alex and the rest of the senior leadership team...


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