Itron tabs new CEO from within
Tom Deitrich selected to succeed Philip MezeyJuly 22nd, 2019
Itron Inc., the Liberty Lake-based provider of energy and water resource management products and services, has named Tom Deitrich as its new president and CEO, effective Aug. 6.
Deitrich was selected by the company’s board from within Itron’s ranks following a global search, the company says in a press release.
“Tom Deitrich exhibited the best skill set for Itron's continued operational transformation and success, a compelling understanding of the marketplace, and a strong strategic vision for Itron's future,” Lynda Ziegler, chairwoman of Itron’s board, says in the release.
Deitrich will succeed Philip Mezey, who has been has led Itron as president and CEO since 2013. Mezey announced his retirement earlier this year and will work with Deitrich during a transition period, the company says.
Deitrich has served as Itron’s executive vice president and chief operating officer since 2015 and is credited with playing a major role in shaping the company’s strategy to expand services and to partner with cities and utilities to build connected communities.
He brings more than 20 years of experience in executive management roles in operations at global technology companies, including Freescale Semiconductor Inc., Flextronics International Inc., Sony Ericsson Mobile Communications Inc., and General Electric Corp.
Itron, a spinoff of Spokane-based Avista Corp., formerly Washington Water Power Co., was founded in 1977.
As reported in the Journal’s 2019 Book of lists, the company, headquartered at 2111 N. Molter Road, had 465 employees in Spokane County and an additional 8,140 employees worldwide, as of last November.
The company earlier reported a net loss of $2 million, or 5 cents a share, based on revenue totaling $615 million in the 2019 first quarter, an improvement from a net loss of $146 million, or $3.74 a share, based on revenue totaling $607 million in the year-earlier quarter.
Itron is scheduled to release its second-quarter earnings report on Aug. 5.