Topcon Positioning Systems Appoints New CEO
Topcon Positioning Systems has announced that Ray O’Connor, president and chief executive officer, will retire in September 2025 after over three decades of leadership.
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O’Connor will transition to the role of chairperson of the Topcon Positioning Systems Board of Directors effective September 1, 2024, providing guidance and support to the executive leadership team.
Succeeding O’Connor as president and CEO is Ivan Di Federico, who currently serves as executive vice president and chief strategy officer for Topcon Positioning Systems and has broad technical and business competencies. After 20 years with the company, Di Federico will assume his new role on Sept. 1, 2024.
“Ray has made significant contributions to the global positioning industry through his many patents, inspired by his product vision and application experience — I am honored to succeed him as president and CEO of Topcon Positioning Systems,” said Ivan Di Federico. “Ray has built an exceptional company and a talented team, and I look forward to building upon this strong foundation to drive continued innovation and growth.”
Under O’Connor’s leadership, Topcon Positioning Systems experienced dramatic organic growth and expansion into new markets and product lines.
“It has been a true privilege to lead Topcon Positioning Systems for the past three decades and witness the incredible growth and evolution of the company,” O’Connor said.
During his tenure, he was responsible for numerous key acquisitions, as well as the expansion into GNSS, radios, machine automation, and global positioning software and workflow solutions for the construction and precision agriculture industries.
“I am immensely proud of what our team has accomplished, and confident that Ivan is the right leader to take the company into the future,” O’Connor said. “His deep technical expertise, strategic vision, and proven track record of driving innovation make him the ideal choice to lead the company through its next chapter of growth and success.”
Di Federico was most recently chief strategy officer and executive vice president of TPS. In that role, he led important initiatives to create strategic business alliances and acquisitions. Additionally, Di Federico led the advanced research and development teams working on future automation technologies.
Previously, he was responsible for the TPS Global Engineering organization, among other leadership roles over his two decades with Topcon.
“As we navigate an increasingly complex and rapidly evolving market landscape, I am confident that our strategic focus, operational excellence, and world-class solutions will position the company for continued success,” Di Federico said.
In addition to the leadership transition, Topcon announced that Philip Thach will be promoted to executive vice president (EVP) chief operating officer, and EVP chief financial officer, effective September 1, 2024.
Thach joined Topcon in 2018 as CFO and has been instrumental in developing financial controls, strategic planning, and operational efficiencies. His role expanded in 2022 to oversee global operations, where he optimized manufacturing and supply chain processes through continuous process improvements and automation.
In his expanded role, he will lead the day-to-day business operations and partner with C-suite to develop and implement business strategies and talent capability to drive long-term growth and profitability while optimizing the company’s annual operating plan.
The announcement of these executive leadership changes reflects Topcon’s commitment to a thoughtful and well-planned succession process that will ensure a smooth transition and continued momentum for the company while maintaining its customer-centric culture and values. With a strong leadership team, Topcon is poised to build on its innovation and market leadership history.
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