Directors of Itron Inc. are expected to replace outgoing Chairman Paul Redmond with President Johnny Humphreys at their May meeting, Itron spokeswoman Mima Scarpelli said this week.
Humphreys will retain his existing title while a search for his successor is conducted, she said. Spencer Stuart, a national firm that specializes in management recruitment, has been retained to help with that effort.
Chief Operating Officer Carl Robert Aron has been designated executive vice president and chief strategist.
Humphreys has led Itron since 1987, when he joined the company from Datachecker Systems Inc. In the ensuing decade, sales by the maker of automated meter-reading equipment have increased almost 10-fold, to $216 million in 1997.
He said Itron’s financial strength makes this a good time to bring new leadership into the company.
Redmond, chairman since 1987, has also announced his intention to step down as chairman and chief executive officer of Washington Water Power Co., which was once Itron’s majority owner.