Tech manufacturer Benchmark unveils leadership change as longtime CEO steps down
Story Highlights
- Jeff Benck, Benchmark Electronics CEO, will retire on March 31, 2026
- David Moezidis, current EVP, will succeed Benck as CEO
- Benchmark reported strong Q2 results, exceeding Wall Street expectations
The top executive of Benchmark Electronics Inc. plans to step down from the company after more than six years at the helm.
Benchmark Electronics (NYSE: BHE) on Tuesday announced Jeff Benck is retiring from the Tempe-based advanced electronics manufacturer, effective March 31, 2026.
“I’ve had the privilege of working alongside the most exceptional management team in the industry,” Benck said in a statement. “Their passion for executing upon our differentiated strategy, combined with the unwavering dedication of our employees to fulfilling our purpose, has firmly established Benchmark as an industry leader.”
Benck will be succeeded by David Moezidis, who has served as Benchmark’s executive vice president and chief commercial officer since 2023.
Moezidis has more than 35 years of experience in operations, engineering, sales and marketing in the digital imaging, electronics manufacturing and semiconductor capital equipment industries.
Prior to Benchmark, Moezidis spent 25 years at Austin, Texas-based advanced manufacturing company Flex, where he served as president of the company’s lifestyle solutions group and senior vice president of the industrial and energy group.
“David is a broadly recognized and seasoned executive with deep EMS industry expertise and a thorough understanding of Benchmark’s mission and culture,” Benck said. “He has built strong relationships with our customers and played a pivotal role in shaping and advancing key strategic initiatives. I am confident in his ability to lead the company into its next phase of growth.”
Since becoming CEO in March 2019, Benck has guided Benchmark through transformative growth, complex challenges and built a culture “rooted in innovation and integrity,” David Scheible, Benchmark’s board chair, said in statement.
Benchmark invested $20M in Mesa facility
Benchmark opened its Tempe headquarters in 2019 and invested more than $20 million in a Mesa facility in 2023 to manufacture equipment that makes semiconductors, the Business Journal previously reported.
“[Jeff’s] legacy will be felt for years to come. We wish Jeff all the best in retirement and appreciate his continued support during this transition.” Scheible said. “The board is confident that David Moezidis will provide outstanding leadership to Benchmark, building on our strong foundation to exceed our customer’s needs, foster employee advancement, and create value for our shareholders.”
After retiring as CEO, Benck plans to remain with Benchmark as an adviser until March 31, 2027, to “support a seamless leadership handoff,” according to the company.
As a special adviser to Benchmark, Benck will receive an annual base salary of $100,000, continued vesting of long-term incentive compensation awards and eligibility for a cash bonus during fiscal 2026 under the company’s annual incentive plan, according to a regulatory filing.
Benck had total compensation of $6.5 million in 2024, ranking him No. 29 among the highest paid CEOs of Arizona’s publicly traded companies, according to Business Journal research.
Benck’s retirement announcement comes more than a month after Benchmark reported second quarter financial results that exceeded Wall Street expectations.
Benchmark generated $642.3 million in revenue during the second quarter, beating the Wall Street analyst consensus of $638.7 million.
The company’s revenue growth was primarily driven by new business bookings, continued strength in its aerospace and defense sectors and solid recovery in its industrial and medical sectors, according to a regulatory filing.
Benchmark is forecasting revenue between $635 million and $685 million in the third quarter.
The company’s stock closed at $40.16 a share on Tuesday, down 1%.