Topcon Positioning Systems CEO to retire, succession plan revealed
20 August 2024
Topcon Positioning Systems (TPS) – a US-based and Japanese-owned manufacturer and provider of precision measurement solutions for the construction industry – announced the planned retirement of CEO Raymond O’Connor set for September 2025.
(Image courtesy Topcon)
At present, O’Connor also serves as executive vice president and general manager of Topcon Positioning Company and president of TPS.
He served as CEO of the company for more than three decades; named to that capacity in 1993. TPS was formerly known as Advanced Grade Technology, which was purchased by Topcon Corporation in 1995, and then Topcon Laser Systems until about the early 2000s.
O’Connor will transition to the role of chairman of the TPS board of directors effective 1 September, 2024.
Ivan Di Federico, current executive vice president and chief strategy officer for TPS, will succeed O’Connor effective 1 September, 2024.
O’Connor said, “I am immensely proud of what our team has accomplished, and confident that Ivan is the right leader to take the company into the future. His deep technical expertise, strategic vision, and proven track record of driving innovation make him the ideal choice to lead the company through its next chapter of growth and success.”
Topcon Corporation, the parent company of TPS, also announced that Philip Thach will be promoted to executive vice president (EVP) chief operating officer, and EVP chief financial officer, effective September 1, 2024.
Regarding O’Connor, Di Federico said, “Ray has made significant contributions to the global positioning industry through his many patents, inspired by his product vision and application experience… and I look forward to building upon this strong foundation to drive continued innovation and growth.”
For 2023, TPS recorded US$962 million in sales and $62 million in profit.
