Teledyne Technologies Inc. promoted Al Pichelli from executive vice president to chief operating officer effective immediately.
In his new role, Pichelli will oversee the four business segments of the Thousand Oaks aerospace, marine and energy products manufacturer.
Chief Executive Robert Mehrabian said that Pichelli’s commitment to Teledyne has never wavered during his 35 years with the company.
“His leadership has been instrumental in Teledyne’s evolution, and I am delighted to announce his promotion,” Mehrabian said in a prepared statement released Tuesday.
In a separate action, Rex Geveden has resigned as executive vice president of Teledyne and Edwin Roks has been promoted from chief operating officer of Teledyne DALSA Inc., in Waterloo, Ontario, to president of that subsidiary.
These management changes came a day after Teledyne announced it was lowering its third quarter earnings guidance in the face of lower sales.
Shares closed down Wednesday 39 cents, or a fraction of a percent, to $86.02 on the New York Stock Exchange.