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Plexus names CEO as chairman of board

Staff writer |
Neenah, Wi., USA - November 20, 2012, Neenah, Wi., USA - Plexus Corp., an electronics manufacturing services provider, announced that John L. Nussbaum, the non-executive chairman of the board of directors, informed the board of his intention to retire, effective February 13, 2013.

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Mr. Nussbaum is Chairman of the Board of Plexus Corp., since 2002. He is a co-founder of Plexus, was its Chief Executive Officer until 2002, and served as Plexus’ President and Chief Operating Officer prior thereto. Mr. Nussbaum earned a B.A. from St. John’s University (Minnesota).

Consistent with its succession planning, the Board appointed Dean A. Foate, Plexus’ President and Chief Executive Officer, to succeed Mr. Nussbaum as Chairman, effective after the 2013 Annual Meeting of Shareholders on February 13, 2013.

Mr. Foate joined Plexus in 1984, has been a member of the Board since 2000, and has served as Plexus’ President and CEO since 2002. Mr. Foate was previously Plexus’ Chief Operating Officer and Executive Vice President, and President of Plexus’ Engineering Solutions business. Mr. Foate is also a director of Regal Beloit Corporation, an electrical motors and mechanical products company, as well as the chair of its Compensation and Human Resources Committee. Mr. Foate earned his B.S. in Electrical and Computer Engineering from the University of Wisconsin-Madison and his Master of Science in Engineering Management from the Milwaukee School of Engineering.

In connection with these changes, the Board also modified its leadership structure to add the position of Lead Director. The independent directors, acting in executive session, appointed Michael V. Schrock to serve as the Board’s Lead Director, effective after the 2013 Annual Meeting of Shareholders on February 13, 2013.

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