Methode Electronics Inc. (MEI) recently announced that Kevin Nystrom, currently a partner and managing director at AlixPartners LLP, has been named as the interim CEO with immediate effect. Nystrom is stepping into the shoes of Avi Avula who has resigned from his dual role as President and CEO.
The Board of Methode, along with executive search firm Spencer Stuart, has begun the process of identifying a full-time CEO. Concurrently, the company announced the elevation of Mark Schwabero, an incumbent director and ex-Chairman, CEO, and Director of Brunswick Corporation to the role of Vice Chairman of the Board, an appointment which also takes effect immediately.
Donald Duda, the company's former president and CEO, will continue in his capacity as a strategic consultant to Methode until January 2025 and will extend support during the transitional period.