Methode Electronics Appoints Kevin Nystrom As Interim CEO

(RTTNews) - Methode Electronics Inc. (MEI) said that Kevin Nystrom, a partner and managing director at AlixPartners LLP, has been appointed as interim chief executive officer, effective immediately.

Nystrom succeeds Avi Avula, who resigned from his position as President and Chief Executive Officer.

Methode's Board, with the assistance of executive search firm Spencer Stuart, has initiated a search to identify a permanent CEO.

Methode also announced the appointment of Mark Schwabero, current director and former Chairman, Chief Executive Officer and Director of Brunswick Corporation, as Vice Chairman of the Board, effective immediately.

The company's former President and Chief Executive Officer, Donald Duda, remains a strategic consultant to Methode through January 2025 and will continue to provide support during the transition period.