Board of Directors appoints Paul R. Johnston as Chief Executive Officer and Michael R. Gaulke as Executive Chairman
MENLO PARK, Calif., May 28 /PRNewswire-FirstCall/ -- Exponent, Inc. (Nasdaq: EXPO) today announced that its Board of Directors appointed Dr. Paul R. Johnston, 55, as its Chief Executive Officer and President, and Michael R. Gaulke as its Executive Chairman at its Board meeting on May 28, 2009. These changes are consistent with the executive transition plan previously announced on February 19, 2009.
Dr. Johnston joined Exponent 28 years ago and has assumed increasingly responsible positions over time, most recently being named Chief Operating Officer in 2003 and President in 2007. In these roles, Dr. Johnston was initially responsible for Exponent's Health and Environmental businesses before assuming management of all of the Company's consulting groups. He has also managed the Company's network of offices. Dr. Johnston received his Ph.D. in Civil Engineering and M.S. in Structural Engineering from Stanford University, and his B.A.I. in Civil Engineering with First Class Honors from Trinity College Dublin. He is a Registered Professional Civil Engineer in the State of California.
Michael Gaulke said, 'It is with great confidence and pleasure that I can turn the chief executive role over to Paul. I have worked closely with Paul for over a decade and feel he is unquestionably the right person to lead our Firm as its CEO in the years ahead. We are very fortunate to be able to appoint such a well-qualified successor. I look forward to supporting Paul, the Board of Directors, and the rest of the leadership team at Exponent through this transition in my new role.'
Exponent's Lead Independent Director, Samuel Armacost, said, 'On behalf of shareholders and the Board, I would like to thank Mike for his thirteen years of contributions as CEO of Exponent and we look forward to working with him as our Executive Chairman. During his tenure, the Firm has seen significant growth in human capital, capabilities, client base, and financial performance which has all translated into meaningful growth in shareholder value.'
Paul Johnston said, 'I appreciate the Board's confidence in me as the next CEO to succeed Mike. Exponent is a leading organization with a very talented team and is well positioned for continued growth.
