OSI Systems Appoints Ajay Mehra as President and CEO

On December 4, 2024, OSI Systems, Inc. (NASDAQ: OSIS) made a significant announcement regarding changes at the executive level. The Board of Directors of OSI Systems appointed Ajay Mehra, who currently serves as the Executive Vice President of the Company and President of the OSI Security Division, as the new President and Chief Executive Officer. This change is set to take effect from January 1, 2025.

The Board of Directors approved several key aspects of Mehra’s appointment, including an initial annual base salary of $750,000, along with performance-based restricted stock unit grants under the Company’s long-term incentive program. Additionally, a cash bonus tied to the Company’s adjusted return on equity program was outlined, with a maximum potential bonus equal to 200% of his base salary.

Ajay Mehra, who has a long-standing history with the Company, is poised to lead OSI Systems following the departure of Deepak Chopra. Mehra’s profile and background can be further explored in the definitive proxy statement filed with the Securities and Exchange Commission on October 25, 2024.

It’s worth noting that Ajay Mehra does not hold a direct or indirect material interest in any transactions with the Company that require disclosure as per Item 404(a) of Regulation S-K. Additionally, it was highlighted that Ajay Mehra is the first cousin of Deepak Chopra.

In conjunction with this transition, on December 5, 2024, OSI Systems issued a press release confirming Ajay Mehra’s appointment as President and CEO. This release detailed Mehra’s extensive experience with the company, his instrumental role in leading OSI’s Security division, and the strategic vision he brings to the position.

The press release further mentioned Deepak Chopra’s endorsement of Ajay Mehra’s appointment, expressing confidence in his ability to steer OSI Systems forward. Ajay Mehra himself conveyed gratitude for the opportunity and expressed eagerness to continue OSI’s mission, building on the foundations set by the outgoing CEO.

OSI Systems, Inc. is recognized for its specialization in designing and manufacturing electronic systems and components for critical applications across various industries including homeland security, healthcare, defense, and aerospace. With operations in numerous countries, OSI Systems continues to expand its presence in targeted end-product markets.

This news release contains forward-looking statements regarding OSI Systems’ business expectations and projections. Forward-looking statements inherently involve risks and uncertainties, and actual results may differ materially from those expressed. The Company is committed to maintaining transparency and compliance with ongoing regulatory requirements.

Source: OSI Systems, Inc.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read OSI Systems’s 8K filing here.

OSI Systems Company Profile

OSI Systems, Inc designs and manufactures electronic systems and components. It operates in three segments: Security, Healthcare, and Optoelectronics and Manufacturing. The Security segment offers baggage and parcel inspection, cargo and vehicle inspection, hold baggage and people screening, radiation monitoring, explosive and narcotics trace detection systems, and optical inspection systems under the Rapiscan name.