Topcon Positioning Systems (TPS), a prominent US-based manufacturer specializing in precision measurement solutions for the construction industry, has announced that its CEO, Raymond O’Connor, will retire in September 2025. O’Connor, who also holds positions as Executive Vice President and General Manager of Topcon Positioning Company and president of TPS, has been leading the company since 1993. His long tenure saw the company evolve from its earlier identity as Advanced Grade Technology, acquired by Topcon Corporation in 1995, to Topcon Laser Systems and eventually to its current form.
O’Connor will transition to the role of Chairman of the TPS board of directors starting on September 1, 2024. His successor, Ivan Di Federico, who currently serves as Executive Vice President and Chief Strategy Officer at TPS, will assume the CEO position on the same date.
Topcon Corporation, the parent company of TPS, also revealed that Philip Thach will be promoted to Executive Vice President, Chief Operating Officer, and EVP Chief Financial Officer, effective September 1, 2024.
In 2023, TPS reported sales of $962 million and a profit of $62 million.
Reflecting on O’Connor’s legacy, Di Federico acknowledged the significant impact O’Connor has had on the global positioning industry through his numerous patents and product innovations. Di Federico emphasized his commitment to building on the strong foundation O’Connor laid for continuing to drive innovation and growth at TPS.
O’Connor expressed his pride in the achievements of the TPS team and conveyed his confidence in Di Federico as the right leader to steer the company forward. He highlighted Di Federico’s technical expertise, strategic insight, and successful track record in driving innovation as key factors that make him the ideal choice to lead TPS through its next phase of growth.
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