Dynex Power Inc. announced a change in leadership. Dr. Paul Taylor announced today that as of 16 January, he is relinquishing the position of Chief Executive Officer and Director, roles that he has held since 2004. He will be replaced by Clive Vacher.
In 1976, Dr. Taylor joined AEI Semiconductor Limited, a Lincoln business unit of GEC and the predecessor of Dynex Semiconductor Limited. At the time of the acquisition by Dynex in 2000, Dr. Taylor was Chief Technology Officer, which position he held until he was appointed President and Chief Executive Officer.
At the end of 2015 Dr. Taylor announced to the Board his intention to reduce his work load and a formal search was launched to identify a successor. Following his replacement, Paul takes up a new position as Chief Advisor to Zhuzhou CRRC Times Electric Co. Ltd., Dynex's parent company.
Dr. Paul Taylor commented, "I have been 40 years with Dynex and its antecedents, thoroughly enjoyed all my time as CEO. I am delighted to remain involved with CRRC Times Electric Company. I am excited that Clive Vacher has agreed to replace me. I have no doubt he will be very successful. He has an excellent background that's relevant to Dynex's needs."
After receiving his MBA from MIT's Sloan School of Management, Mr Vacher has held a number of senior executive positions with Pratt and Whitney, Rolls-Royce, General Dynamics and B/E Aerospace. He is in the final stages of an Engineering Masters Degree from Columbia University. He has proven himself to be a strong, hard-driving, team-oriented leader, and brings with him a proven track record of business turn-arounds in high technology, safety-critical industries.
Liu Kean, the Chairman of Dynex said, "We are very appreciative of the good work done by Dr. Paul Taylor. He has been a strong leader and I am delighted to be able to work with him in the future in his advisory role. I am very pleased to welcome Clive Vacher to Dynex. He impressed us when we first met him and we have the highest expectations for his performance at Dynex."
