Amphenol is one of the largest suppliers of all components that are needed to create an interconnecting system. The products that they make are used in a variety of industrial, military and aerospace applications. They are considered to be leaders in this field and have operations all over the world. Their CEO, Richard Adam Norwitt, has been instrumental in this success. Here are ten things that you may not know about him.
1. He Graduated From Georgetown University
He attended Georgetown University after high school and graduated from here with a Bachelor's degree. After he had finished his studies here he went on to gain his Juris Doctor from the University of Michigan. He may not have started out with the intention of going into business, but he has made a very successful career for himself in this industry. Despite studying for a law degree, he has never practiced law. However, knowledge of the law is an important skill to have in business.
2. He Also Studied At INSEAD In France
After he gained his law degree, he studied for an MBA from the INSEAD business school in France. The school offers an MBA in Business Administration and provided Norwitt with the skills he needed to develop his career at Amphenol. Some of the biggest names in business have studied at INSEAD and it is one of the most well-respected business schools in the world. Studying here also gave him the experience of living overseas and this is something else that would serve him well in the rest of his career.
3. He Has Worked For Amphenol Since 1998
He has spent most of his working life at Amphenol, having joined the company in 1998. He joined the company in a management role and he went on to hold a variety of positions in management and business development. These various roles that he held provided him with the opportunity to really get to know the business and how to keep it running to its full potential. It is widely believed that to be a good CEO you have to be in touch with your workforce and this is something that he has.
4. He Has Spent Time Working In Asia And Europe
As part of his role at Amphenol before he became CEO, he spent time working in Asia and Europe. According to Bloomberg this included a year in Asia as Director of Interconnect Systems Operations. Amphenol is a global business and he is one of the few people in the company that have experience of working overseas. This experience means that he has a good knowledge of how the business runs in other territories which can help him make decisions for the good of the whole business.
5. He Has Been CEO Since 2009
Norwitt became CEO of Amphenol in 2009, after serving as COO for the previous two years. He was only forty years old when he took this position and even today he is one of the youngest CEOs to run a company across the whole of the United States. As part of his role as CEO he also serves as President of the Board Of Directors. As he is only in his late forties it is expected that this is a role he will continue to hold for the considerable future.
6. He Lives In Wallingford, Connecticut
The headquarters of Amphenol is in Wallingford and Norwitt lives nearby. Amphenol has operations in over sixty countries but the offices at Wallingford are the main global headquarters, which is the reason why he uses it as his base. Wallingford is also the home to the headquarters of several other technology companies so it is good for the company to be in proximity to other companies that they may be able to do business with. It is likely that he will continue living in this area while he remains as CEO, although he still does travel a lot as part of his job.
7. His Annual Salary From Amphenol Is Over $1 Million
The salary that he is paid by Amphenol amounts to just over $1 million annually. However, he also has a number of stock options that add to his annual income, along with any bonuses that he receives. This takes his total annual earnings to over $10 million. There is no other director that earns as much from the company as this. This is a fairly high salary for a CEO and it is one that may increase in the future if he continues in the role.
8. He Has A Net Worth Of $21 Million
His total net worth is estimated to be in the region of $21 million. The majority of his wealth comes from the money that he has earned during his time at Amphenol. This not only includes the salary that he has earned, but also the value of the shares that he holds, as explained by Wall Mine.If his shares in Amphenol increase in value, then his net worth may continue to increase as well.
9. He Is A Major Shareholder Of The Company
Several members of the Board of Directors hold shares in the company, and Norwitt is no exception. While he is employed by Amphenol it is likely that he will always hold some shares and they will continue to contribute to his net worth. However, he has sold some of his shares in the past and has earned a considerable sum of money from this. He is not the only Director of the company that has sold some of their shares.
10. He Has Overseen Several Acquisitions During His Time As CEO
On their way to becoming one of the biggest interconnect companies in the world, Amphenol have acquired a number of smaller companies. There is a comprehensive list of all these acquisitions on Wikipedia. Some of these acquisitions have taken place in the United States, but some of them have occurred overseas and this has allowed Amphemol to secure its position as a global company.
Written by Garrett Parker
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