Benchmark Electronics CFO Roop Lakkaraju to resign April 1; interim CFO named; Q1 guidance reiterated

BENCHMARK ELECTRONICS INC

CFO Roop Lakkaraju resigns effective April 1, 2024 to pursue external opportunity; departure not due to any disagreement.
Arvind Kamal (VP of Finance) appointed Interim CFO effective April 1; receives $10,500/month stipend and $100K RSU grant.
Company reiterates Q1 FY2024 guidance: revenue $625-$665M, non-GAAP EPS $0.42-$0.48.
Formal search for permanent CFO to be conducted.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Roop K. Lakkaraju

Executive Vice President, Chief Financial Officer and Principal Accounting Officer

BHE · BENCHMARK ELECTRONICS INC

Effective: 2024-04-01
Successor: Arvind Kamal
Filed: March 19, 2024, 7:59 PM ET

On March 19, 2024, Benchmark Electronics, Inc. (NYSE: BHE) announced that Roop K. Lakkaraju, Executive Vice President and Chief Financial Officer (“CFO”) and Principal Accounting Officer (“PAO”), intends to resign from his position effective April 1, 2024 to pursue a professional opportunity outside of Benchmark.

Appointed (interim)

Arvind Kamal

Interim Chief Financial Officer and Principal Accounting Officer

BHE · BENCHMARK ELECTRONICS INC

Effective: 2024-04-01
Filed: March 19, 2024, 7:59 PM ET

Effective April 1, 2024, Arvind Kamal, who has served as the Vice President of Finance of the Company for the past four years, will be named Interim CFO and PAO.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BENCHMARK ELECTRONICS INC reported the first quarter ending 2024 results: revenue within a range of $625-$665M, EPS non-GAAP EPS of between $0.42 and $0.48 per share. Guidance reaffirmed.

Period: the first quarter ending 2024
Revenue: within a range of $625-$665M
EPS: non-GAAP EPS of between $0.42 and $0.48 per share
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

Along with this announcement, Benchmark reiterates its prior expectations for the March 2024 fiscal quarter including revenue within a range of $625-$665M and non-GAAP EPS of between $0.42 and $0.48 per share.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Roop K. Lakkaraju resigned as Executive Vice President, Chief Financial Officer and Principal Accounting Officer at BENCHMARK ELECTRONICS INC.

Action: resigned
Role: Executive Vice President, Chief Financial Officer and Principal Accounting Officer

Exact text from the filing

On March 19, 2024, Benchmark Electronics, Inc. (NYSE: BHE) announced that Roop K. Lakkaraju, Executive Vice President and Chief Financial Officer (“CFO”) and Principal Accounting Officer (“PAO”), intends to resign from his position effective April 1, 2024 to pursue a professional opportunity outside of Benchmark.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Arvind Kamal was appointed as Interim Chief Financial Officer and Principal Accounting Officer at BENCHMARK ELECTRONICS INC.

Action: appointed
Role: Interim Chief Financial Officer and Principal Accounting Officer

Exact text from the filing

Effective April 1, 2024, Arvind Kamal, who has served as the Vice President of Finance of the Company for the past four years, will be named Interim CFO and PAO.

View on SEC.gov

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BENCHMARK ELECTRONICS INC filing history →

Source: SEC EDGAR

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