Littelfuse taps Analog Devices for new CEO as sales fall
Diversified power group Littelfuse has appointed a new CEO after results down 7% in 2024 to $2.2bn.
Dr. Greg Henderson will take over from Dave Heinzmann as president and Chief Executive Officer on his retirement in five days time.
“On behalf of the Board of Directors, I want to thank Dave for his 40 years of distinguished leadership and substantial contributions across numerous roles. As CEO, Dave has been an exceptional leader and his passion for Littelfuse, our people, and our customers has been instrumental in guiding the Company’s growth, innovations, and industry impact,” said Gordon Hunter, Littelfuse Chairman of the Board.
This comes as the company posted net sales of $2.2bn, down 7% on the previous year. It expects net sales in Q1 of 2025 in the range of $520 – $550 million, flat compared to the $530m in Q4 of 2024.
“We exited the year with the electronic consumption cycle behind us and signs of distribution of inventory replenishment are surging. Notably, our Electronics segment book to bill is at its highest level since the Q2 of 2022,” said Heinzmann.
The company took over the fab in Dortmund, Germany, previously owned by Elmos, in December.
“Greg brings a wealth of experience across our industry, end markets and technologies, as well as broad familiarity with Littelfuse through his service as a member of our Board of Directors,” said Hunter. “Greg has a strong track record of value creation as well as extensive technical skills and management experience, most recently leading Analog Devices’ Automotive & Energy, Communications, and Aerospace Group. Greg has been a thoughtful voice on our board, and I am confident he is well prepared to lead Littelfuse into its next chapter of growth and success.”
“Littelfuse has an extensive track record of product leadership and technology innovation, driving meaningful growth and success over its 98-year history,” said Henderson. “I look forward to building on the strong foundation that Dave and the leadership team have established as we enable the future needs of our diverse customer base across our broad end markets.”
From 2017 to 2024, Henderson served as the Senior Vice President of the Automotive & Energy, Communications, and Aerospace Group for Analog Devices Inc,
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