NVE Corporation announced that President and CEO Daniel A. Baker will retire, effective August 6, 2026. The Board of Directors has appointed the current Vice President of Advanced Technology, Peter G. Eames, to succeed him as President and CEO as part of a planned leadership transition.
Key Details
- Effective Date: The CEO transition will occur on August 6, 2026, at the company's Annual Shareholders' meeting.
- Leadership Roles: Outgoing CEO Daniel A. Baker is expected to become Chairman of the Board. Incoming CEO Peter G. Eames has been nominated to join the Board.
- New CEO Compensation: Dr. Eames' compensation includes a $260,000 annual base salary and a performance-based plan tied to fiscal 2027 operating income.
- Board Expansion: The company nominated Carolyn W. Valentine as a new director, which would expand the board from five to seven members upon shareholder approval.