Rogers names Armand Lauzon as new board chair as Peter Wallace steps down

CHANDLER, Ariz. - Rogers Corporation (NYSE:ROG), a $1.55 billion market cap engineered materials manufacturer, announced Thursday that Peter Wallace, Chair of the Board of Directors, will not seek re-election at the company’s 2026 Annual Meeting of Shareholders, prompting an immediate leadership transition. According to InvestingPro data, the company maintains a strong financial position with more cash than debt on its balance sheet.

The engineered materials manufacturer has elected Armand Lauzon, who joined the board in 2023, to serve as the new Chair effective immediately. Wallace, who has been on the board since 2010 and served as Chair or Lead Director since 2019, will work with Lauzon over the coming months to ensure a smooth transition. The leadership change comes as Rogers demonstrates strong liquidity, with a current ratio of 3.79, indicating robust short-term financial health.

"After 15 years of serving on the Board, I believe this is the right time for me to prioritize time with other boards and personal pursuits," Wallace said in a press release statement.

Lauzon brings over 40 years of experience leading industrial and manufacturing companies. He previously served as CEO of C&D Technologies and several Carlyle Group portfolio companies, and currently sits on the boards of Zekelman Industries and Northwest Hardwoods in addition to Rogers.

The company also announced plans to appoint a new independent director with input from Starboard Value LP, an investor in Rogers. Following this announcement, Starboard Value confirmed it does not intend to nominate directors for election at the 2026 annual meeting.

"We invested in the Company because of our belief in Rogers’ substantial opportunity to improve operating and financial performance," said Peter Feld, Managing Member of Starboard Value.

Rogers Corporation, headquartered in Chandler, Arizona, produces engineered materials for applications including electric vehicles, automotive safety systems, renewable energy, and wireless infrastructure. While the company reported $795.8M in revenue over the last twelve months, its stock has shown remarkable momentum, gaining nearly 64% over the past six months. Discover more detailed insights and analysis with InvestingPro, which offers comprehensive research reports and additional ProTips for Rogers Corporation.

In other recent news, Rogers Corporation announced its second-quarter earnings for 2025, showcasing mixed financial outcomes. The company reported an adjusted earnings per share (EPS) of $0.34, which was below the anticipated $0.50. However, Rogers Corporation surpassed revenue expectations, achieving $202.8 million compared to the projected $198.75 million. These results indicate a complex financial picture for the company, with revenue performance exceeding forecasts despite the EPS shortfall.

Meanwhile, Genentech, a member of the Roche Group, has embarked on a significant expansion with the groundbreaking of a new manufacturing facility in Holly Springs, North Carolina. This 700,000-square-foot site represents an investment exceeding $700 million and will focus on producing next-generation metabolic medicines. This development is part of Genentech’s broader $50 billion commitment to U.S. manufacturing, infrastructure, and research and development. These recent developments highlight key strategic moves by both companies in their respective fields.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.