News and Features
Ametek CEO Frank Hermance Now
Chairs the Eastern Technology Council
By Pam George
 |
|
Frank Hermance |
The Board of the Directors of the Eastern Technology Council has a new chairman. Frank Hermance, Chairman and CEO of Paoli-based Ametek, replaces Rob McCord, who resigned last November after being elected Pennsylvania State Treasurer.
“Frank Hermance is a remarkably experienced, world-class business leader, who has been instrumental in bringing about the growth and success of the Eastern Technology Council through his involvement over the last 15 years,” says Council CEO Dianne Strunk. “Frank brings excellent management, logic and vision to the chair position. Council staff, membership and I are fortunate to have Frank’s leadership.”
Board member Charles Robins, Managing Director of Fairmount Partners, agrees. “We are very fortunate to have a proven leader of Frank’s caliber at the helm,” says Robins, Managing Director of Fairmount Partners, an independent investment banking boutique, focused on middle market and emerging growth companies. “He brings a collaborative style and the respect of the top executives in this region that in combination should bolster the reach and effectiveness of the Council.”
Michael Forman, founder of FB Capital Partners, adds: “As a long time supporter and board member of the Eastern Technology Council, I am very pleased to have Frank assume the chairmanship. Frank will bring the kind of leadership and direction an organization needs to navigate these difficult times.”
Hermance says he is honored to serve as Council Chairman. “I am eager to work with CEO Dianne Strunk and our fellow board members to enhance the Council’s role as a catalyst for growth and opportunity for small and emerging companies, as well as for large technology and life sciences companies. Under Dianne’s leadership, the Eastern Technology Council will continue to be a convener of contacts and capital for entrepreneurs in the region,” he says.
Hermance Credits Council in Ametek Transformation
As CEO of Ametek, Hermance leads a company with annual sales of $2.5 billion and a market capitalization of $3.5 billion. Ametek makes instrumentation for aerospace, defense, process and heavy vehicle applications as well as electro-mechanical systems and motors for various industries.
Hermance — who received his bachelor’s and master’s degrees in electrical engineering from Rochester Institute of Technology — has been with Ametek for 18 years. Prior to that, he worked at Tektronix and at Taylor Instrument Company.v
He initially joined Ametek as Group President. At the time, Ametek was ready to transition from a low-tech to a high-tech company. He says the Eastern Technology Council’s support and its networking opportunities helped make that happen.
Today, Ametek employs more than 11,000 people, about 50 percent of them outside the United States. As Chairman of the board, Hermance will help the Council recruit other large technology and life sciences companies to the region.
Among the region’s advantages are a deep talent pool and a high quality of life, Hermance says. “It’s a great place to work and that coupled with the excellent technology firms in the area means it will fare better than many other cities during this economy,” he says.
The Eastern Technology Council is well positioned to help member companies weather the recession, he maintains. Not only will the Council continue offering programming on current topics of interest, but it will also provide members with networking opportunities. People can talk about the issues, share ideas and learn from each other, he says.
In his experience, some of the toughest and the best business decisions are made during an economic downturn. “It presents the opportunity to position a company for growth when the economy improves,” he says.
|
