Richard Phillips Assumes Lead Role at Kimball Electronics

There’s a new leader in charge at Kimball Electronics Inc. 

Richard D. Phillips has replaced former Board Chairman/CEO Donald D. Charron, who retired on Feb. 28. Phillips is now a board director, and Lead Independent Director Robert J. Phillippy, a member since 2018, is the company’s non-executive chair.

Charron departs Kimball with an impressive legacy of contributions not only to the company, but to the electronics manufacturing services (EMS) industry as well, Phillippy said.  
 
“It is hard to put into words the profound impact Don has had on each of us, and the company. Under his leadership spanning 24 years, Kimball Electronics has grown from a division of its parent company to a publicly-traded, global enterprise with annual revenues rapidly approaching the $2 billion threshold,” Phillippy stated. “Don’s achievements are countless, highlighted by decades of consistent performance and profitable growth, award-winning customer service levels, and a strong corporate culture that is routinely recognized in the industry as Kimball Electronics’ competitive advantage. That culture starts with Don, and his passion to always do the right thing. He consistently treats others with respect and dignity, and creates an environment where we all can be a better version of ourselves. On behalf of the Board of Directors, and the entire Kimball family worldwide, I want to thank Don for his dedication and service to our company throughout an illustrious career. We wish him the very best.”

Charron joined Kimball International in 1999 to lead the Kimball Electronics Group. During his tenure, he has strategically positioned Kimball Electronics for success with geographic expansions in Thailand, China, Poland, and Romania, and led its portfolio diversification with applications supporting the automotive, medical, and industrial vertical end markets. In 2014, Kimball Electronics spun-off from its parent company, Kimball International, and became an independent, publicly-traded company listed on Nasdaq, and Charron was appointed chairman/CEO. In fiscal 2018, Kimball Electronics exceeded $1 billion in annual revenue for the first time in its history. Under Charron’s leadership, Kimball Electronics has been honored with numerous awards and distinctions for operational excellence and the highest levels of customer service, including special recognitions throughout the COVID-19 pandemic. In fiscal 2021, the company reported record revenue, profitability, and return on invested capital.
 
“It is with immense gratitude and pride that I say farewell to the Kimball family. Thank you for a journey of a lifetime,” Charron said. “I am so proud of what we have accomplished together, and grateful for the support and partnership I received along the way. It has been a team effort, and I’m leaving with friendships and memories that will last forever. I have been very fortunate to serve the company during my career, and I’ve never been more excited about the future of Kimball Electronics.”

With more than 20 years of experience in executive and advisory roles, Phillips was most recently president and CEO (2019- 2022) for Elkay Manufacturing Company, a global manufacturer and distributor of commercial and residential plumbing products and designer and installer of commercial interiors for the foodservice and hospitality sectors. He was also a member of the company’s Board of Directors. Prior to Elkay, Phillips was president, CEO, and board member (2017-2019) for Essendant Inc. (formerly United Stationers Inc.), a Fortune 500 wholesale distributor of workplace-related products. Before joining Essendant, where he held positions of increasing responsibility beginning in 2013, Phillips held several leadership roles with McKinsey & Company, including co-leading McKinsey’s Pharmaceuticals and Medical Products Operations practice. He was elected partner in 2005. Phillips is an independent director of the Greenheck Group, and previously served as an independent director of Follett Corporation.

Phillips earned a bachelor of science degree in finance from Indiana University, and a master’s degree in management from Northwestern University Kellogg Graduate School of Management.
 
“With every end comes a beginning. We welcome Ric to Kimball Electronics, and congratulate him on his new role,” Phillippy said. “We are honored to have an executive with Ric’s pedigree and depth of experience join the company, and look forward to his leadership in evolving our strategy and continuing our passion for execution in a dynamic and highly competitive environment, as we strive to be the world’s preferred multifaceted manufacturing solutions provider.”
 
“I am thrilled to join the Kimball Electronics family,” Phillips said. “The company is positioned for growth with near record levels of open order backlog, new program wins, and increased capacity resulting from the recent facility expansions. I’d like to thank Don, his leadership team, and the Board of Directors for the opportunity, and I look forward to working with our global organization, our customers, our vendor partners, and our share owners to continue to build on the company’s successes.”
 
Kimball Electronics is a multifaceted manufacturing solutions provider of electronics and diversified contract manufacturing services to customers worldwide. From its operations in the United States, China, India, Japan, Mexico, Poland, Romania, Thailand, and Vietnam, the company provides manufacturing services for various industries. Kimball Electronics is headquartered in Jasper, Ind.