News

Chief Executive Officer Larry Stack to retire by year-end after a distinguished 49-year career serving in the military and industry, including more than seven years as President and CEO of Photonis Defense.
The Board has selected a new CEO based on their long-term succession plan.
Chief Operating Officer Lenny Martin appointed as President and CEO.

Lancaster Pa., November 15, 2024 - Photonis Defense announced today that Larry Stack will retire from his role as President and Chief Executive Officer by year-end 2024 after a dynamic and highly successful tenure within the military and industry including more than seven years of distinguished service to Photonis Defense as CEO. The Photonis Defense Board of Directors evaluated internal and external candidates as potential replacements and elected to announce that Chief Operations Officer Lenny Martin will advance to the role of President and CEO starting 1 January 2025.

On his decision to retire as CEO, Mr. Stack said, "There never is a perfect time to retire; however, the military and industry taught me that you have to make room for new talent and grow your next generation of leaders. So, this is a good time to pursue those things that many put off until it's too late. It has been my absolute pleasure to have served the great men and women of Photonis Defense who have worked tirelessly to bring new capabilities and products to the marketplace and new opportunities to Lancaster County and nationally. Every person at Photonis Defense knows full well that they have served to save lives, advance the human frontier, and protect those who protect our nation. Lenny Martin, my COO is the perfect handpicked successor to lead this great company to new heights of accomplishment."

During his tenure at Photonis Defense, Mr. Stack built the Microwave Business Unit up from its acquisition by Photonis/Exosens to the point where it doubled its market share against the world's largest market players, enjoyed significant year-over-year growth, and provided exemplary technical innovation in powerful microwave amplification communities. Additionally, he brought new capabilities to the Photonis suite of night vision components by introducing Photonis 16mm and 18mm night vision systems into the US market, including true digital night vision systems, wide field of view optics, night vision rifle scopes and digital day to night optically zoomable binocular systems.

Mr. Jerome Cerisier, CEO of the Exosens Group, the parent company of Photonis Defense, stated "I would like to thank Larry for his constant dedication over the past 8 years to display an entrepreneurial mindset, to grow Photonis Defense business, and to improve the technical and operational skillset of the organization. Larry has been the spearhead of our business in Defense in the US. Thank you, Larry!"

Mitch Herbets, Chairman of the Board for Photonis Defense, said, "On behalf of the Board, I would like to thank Larry for his unwavering commitment and outstanding dedicated service to Photonis Defense, and for leading this company through years of change, challenge, and growth. We are extremely grateful for Larry's wisdom, entrepreneurial savvy, and his approach to serving the interests of his customers, employees, and shareholders alike. We look forward to continuing to work with him throughout the transition process as we welcome in a new CEO to fill the shoes that Larry will leave behind."

Chief Operations Officer Lenny Martin to become President and CEO

Mr. Lenny Martin is an industry veteran within the aerospace industry with over 40 plus years of experience in manufacturing, operations, production, quality assurance, and lean six sigma logistics. He has an extensive background, coming from Honeywell/Allied Signal Aerospace, Safran Aerospace, and LCR Embedded Systems. Mr. Martin was recruited in 2023 as part of Photonis Defense's succession planning process to ensure fresh thinking, continuity of operations, and knowledge management stability to ensure key elements of the Vacuum Electron Device industry are not lost. As well as manufacturing experience, Mr. Martin also served as a Financial Analyst for a division of Anderson Building Products, thus bringing in additional layers of experience to augment the financial team.

Commenting on Mr. Martin's appointment, Mr. Stack said, "I've been working with Lenny since last year when he was selected for this role. Rarely do you get to pick your successor and have the pleasure of working side by side for a year so that the transition and hand-off go smoothly. Lenny will take a great company and make it greater still and deliver for our shareholders and employees in the years to come. His outstanding record speaks for itself, and I look forward to following his leadership and growth of this company moving forward."

Mr. Martin commented, "I'm honored to step into the role as the new leader of Photonis Defense. Working alongside Larry this past year has been a privilege, and I am truly grateful for his guidance and contributions. Learning from him has equipped me with the experience needed for a smooth transition into this position.

I'm excited to collaborate with our talented team as we continue to build on our strong foundation. Together, we will grow our business, pursue new opportunities, and maintain our commitment to excellence. I look forward to achieving great things together!"

About Photonis Defense (www.photonisdefense.com)

Photonis Defense is a US subsidiary of the Exosens Group, which provides state-of-the-art technologies and products in particle detection. Photonis Defense manufactures power tubes, microwave traveling wave tubes, and integrated systems used in communications and electronic warfare, as well as complete analog night vision and digital night vision systems to defense and commercial markets.

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