Molex CEO to retire after 42 years at Lisle company
Molex, a global manufacturer of electronic solutions, said today that Chief Executive Officer Martin P. Slark will retire in November after 42 years of service.
Slark led the company through significant growth, as well as through Lisle-based Molex's acquisition by Koch Industries in 2013.
Over his 13-year tenure as CEO, Molex's revenues and profits more than doubled and its number of global employees grew from 27,000 to 46,000. His vision and focus on profitable growth has resulted in more than a dozen strategic acquisitions for Molex, as well as the company's entry into new markets that include autonomous vehicles and connected health.
"It has been an incredible 42 years at Molex," Slark said. "Working first for the Krehbiel family and then for Koch Industries, has been an amazing journey. I am grateful for the many people who have supported me including, my family, friends and everyone here at Molex."
Molex Chief Operating Officer Joe Nelligan will become CEO upon Slark's departure. "I want to thank Martin for his many contributions," Nelligan said. "Molex's growth reflects his vision and leadership, which has helped make Molex one of the largest and most respected companies in our industry. I wish him all the best in retirement. I am excited to take on this new role and lead the team that will continue to drive profitable growth for Molex."
Nelligan began his career at Molex in the product engineering department. After working two summers as an intern, he joined Molex full-time in 1986. He was named COO for Molex in 2016 and assumed an additional role as president in 2017.
Slark was elected to the Koch Industries board of directors in 2017. He will remain on that board, where he is responsible for helping drive improvements and advances in the application of new technology throughout Koch Industries. Slark will also continue to serve on the boards of the Hub Group Inc., Liberty Mutual Insurance Company and The Northern Trust Corporation.
He and his wife Cathy are longtime supporters of Landmark School in Boston, which serves students with language-based learning disabilities. He is currently serving as vice chairman and treasurer and will continue to stay involved with Landmark.
Slark joined Molex in 1976 in England and has held numerous leadership positions around the world. He served as president of Molex's Far East South Region from 1988 to 1994 and as president of the Americas region from 1994 to 1999. Following that, Slark was an executive vice president from 1999 to 2001, when he took over as COO until 2005, when he assumed the role of CEO.