Jon DeGaynor joins Methode Electronics as president and CEO
Methode Electronics has appointed Jon DeGaynor as the company's new president, CEO and a member of the Board of Directors, effective July 15, 2024.
Jon DeGaynor succeeds Kevin Nystrom, a partner and managing director at AlixPartners LLP, who has served as interim CEO since May 7, 2024.
With a 35-year career in engineered products businesses, Jon DeGaynor brings with him a diverse experience at the intersection of operations, technology and strategy. From 2015 to 2023, he served as President and CEO of Stoneridge, a designer and manufacturer of electrical and electronic systems, components, and modules for the automotive, commercial, off-highway and agricultural vehicle markets. Since 2023, he has been Executive Chairman of Racing and Performance, Inc., an automotive performance systems supplier in the aftermarket space.
“After a comprehensive search process, we are pleased to appoint a seasoned executive of Jon’s caliber as the new CEO of Methode. Jon brings an impressive track record of delivering successful business transformations, including at Stoneridge, within our industry. The Board is confident Jon is the right person to guide our talented team and refine our go-forward plan to drive profitability and return to growth. We are excited to benefit from his operational and strategic expertise,” says Methode Electronics' chairman Walter J. Aspatore in a press release.
“I have long admired Methode in my roles at adjacent companies in the industry, and I am honored to be appointed CEO at this pivotal time for the company. As we continue Methode’s ongoing review of operations, costs and portfolio, I will begin with a focus on restoring profitability and strengthening the company’s foundation,” adds Mr. DeGaynor.
