Belden Announces Appointment of Ashish Chand as President and CEO
Belden Inc. (NYSE: BDC) (the “Company”), a leading global supplier of network infrastructure solutions, today announced that Ashish Chand, EVP of Industrial Automation Solutions and Managing Director of APAC, has been appointed President and Chief Executive Officer. In connection with his appointment, Dr. Chand has been appointed to Belden's Board of Directors. The appointments are effective immediately.
Dr. Chand succeeds Roel Vestjens, who has resigned from his position as President and Chief Executive Officer and as a member of Belden's Board of Directors for personal reasons. Mr. Vestjens' resignation is unrelated to Belden's strategy, operations, financial reporting, or any other matter related to the performance of the Company.
“With its deep bench of talent and compelling strategy, Belden is well positioned to continue to deliver strong results in our growing end markets,” said David Aldrich, Belden’s Board Chair. “For over two decades, Ashish has played integral roles in creating and building the Industrial Automation Solutions business as well as developing our broader solutions-driven strategy. With his unrelenting focus on market innovation, operational excellence and customer satisfaction the Board is confident that Ashish is the right choice to further build on Belden’s success.”
"I am excited to lead Belden as our solutions-driven portfolio aligns with key secular trends that position us to generate sustainable earnings growth," said Dr. Chand. "Following our portfolio transformation, Belden is more resilient and better positioned to serve our customers across the globe while generating long-term shareholder value. After our record performance in 2022, we remain confident in our ability to deliver $8.00 or more of adjusted EPS by 2025," said Dr. Chand.
Belden reaffirms its previously issued guidance, including first-quarter 2023 GAAP EPS between $1.29 and $1.39 and Adjusted EPS between $1.50 and $1.60 and full-year 2023 GAAP EPS between $5.73 and $6.13 and Adjusted EPS between $6.60 and $7.00.
About Ashish Chand
Dr. Chand joined Belden in 2002, and most recently served as the Company's Executive Vice President of Industrial Automation Solutions since July 2019, and Managing Director of Belden Asia Pacific from August 2017. Over the course of his tenure with Belden, he has held roles across several functions, including sales and marketing and operations in both Asia and North America. Dr. Chand has played a pivotal role in developing and executing Belden's long-term growth agenda, solutions and product strategy, and go-to-market efforts. He made key contributions towards establishing and growing Belden throughout the Asia Pacific region, including setting up manufacturing in China and India. Dr. Chand holds a BA in Economics from Loyola College, Chennai, India, an MBA from XLRI Jamshedpur, India, and a Doctorate of Business Administration from the City University of Hong Kong.