Intermec, Inc. announced the departure of its president and CEO, Patrick J. Byrne. The company’s chairman of the board, Allen J. Lauer, will serve as interim CEO and president, effective immediately, until a permanent successor is in place, and will continue to serve as chairman of the board.
In a related change, the company announced that board member Stephen P. Reynolds will serve as lead independent director and will succeed Mr. Lauer in the position of Chairman of the company's Governance and Nominating Committee.
"Pat made many positive contributions here at Intermec, including leading the company through transformations in our sales channels and supply chain, as well as executing several successful acquisitions,” Lauer said. “We wish him the very best in his future endeavors. Going forward, we will make sure that Intermec's focus on excellence and innovation continues. The Board is fully engaged and intends to take full advantage of the Company's many strengths to accelerate value creation for our customers, shareholders and employees."
Lauer has been a member of Intermec's Board since 2003 and has served as the non-executive chairman of the board and chair of the Governance Committee since 2007. He is the retired CEO of Varian, Inc., a supplier of scientific instruments and vacuum technologies, a position he held from 1999 to 2003.
Stephen Reynolds is the former president, CEO and director of Puget Energy, Inc., a regulated Washington State utility, and its wholly owned utility subsidiary, Puget Sound Energy, Inc.