Belden CEO Steps Down; Names Ashish Chand New Chief Executive; Confirms Earnings Guidance

(RTTNews) - Belden Inc. (BDC), a supplier of network infrastructure solutions, on Thursday said its Chief Executive Officer Roel Vestjens resigned, and Ashish Chand, EVP of Industrial Automation Solutions and Managing Director of APAC, has been appointed as the new CEO with immediate effect.

Ashish Chand expressed confidence in delivering $8.00 or more of adjusted EPS by 2025.

Belden also reaffirmed its previously issued first-quarter EPS guidance between $1.29 and $1.39 and adjusted EPS guidance between $1.50 and $1.60. Six analysts polled by Thomson Reuters expect the company to report earnings of $1.55 for the quarter. Analysts typically exclude one-time items.

The company also reaffirmed the full-year 2023 EPS guidance between $5.73 and $6.13 and Adjusted EPS guidance between $6.60 and $7.00. Six analysts polled by Thomson Reuters expect the company to report earnings of $6.87 in 2023.

Shares of Belden closed Wednesday's trading at $86.96, down $0.37 or 0.42 percent from the previous close.