Written by Harold Brubaker, Staff Writer
Ametek Inc. named David A. Zapico to succeed Frank S. Hermance as chief executive officer, the Berwyn manufacturer of electronic instruments and electromechanical devices said Wednesday.
Zapico, currently chief operating officer and a 26-year company veteran, was also named to Ametek’s board of directors. He takes over as CEO Thursday.
Hermance, who will be Ametek’s executive chairman, has been CEO since 1999. During his tenure, Ametek’s sales soared to $4 billion from $925 million, the company said. Much of the growth has come through relatively small acquisitions.
Since 1999, Ametek’s shares have had an annual return of nearly 20 percent, compared to 4 percent for the Standard and Poor’s 500-stock index.
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