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AMETEK Announces Executive Leadership Transition

BERWYN, Pa., May 4, 2016 /PRNewswire/ -- AMETEK, Inc. AME, -0.47% today announced that as part of its planned succession of senior leadership, Frank S. Hermance has transitioned to the role of Executive Chairman of the Board of Directors and David A. Zapico has been elected Chief Executive Officer and member of AMETEK's Board of Directors, with both changes effective as of May 5 [th] .

Mr. Hermance has been with AMETEK for over 25 years and was most recently Chairman and Chief Executive Officer. Mr. Zapico has been with AMETEK for 26 years and was most recently Executive Vice President and Chief Operating Officer.

"It has been a tremendous honor to lead this great company as Chief Executive Officer," said Mr. Hermance. "I am very proud of the outstanding growth and many successes we have enjoyed over the last 16 years. We have transformed AMETEK into a world-class company with exceptional businesses led by talented management teams and employees who are immensely prepared to drive our next phase of growth."

"I expect the transition of Dave to CEO to be seamless as we have been preparing for this transition for many years," added Mr. Hermance. "Dave has been with AMETEK for 26 years during which time we have worked very closely together to help shape the culture and strategies which have formed the foundation for our success. His decisive leadership skills, deep experiences across our businesses...