Flir Systems announced a consolidation of its operations Aug. 30, slimming the Goleta-based company down to three business segments.
The government and defense segment will handle surveillance, detection, outdoor and tactical systems. Jim Cannon, Flir president and CEO, was appointed interim head of the department.
The industrial segment will be led by Frank Pennisi and consist of what is now the original equipment manufacturing and emerging products segments.
The commercial arm will absorb the maritime and security segments, as well as intelligent traffic systems and some outdoor and tactical systems business, headed up by Chief Marketing Officer Travis Merril.
“Streamlining our operations will enable growth and enhanced value creation across all of our businesses,” Jim Cannon said in a news release. “I’ve spoken about my intent for us to fuel, feed, or focus various businesses in our portfolio and this realignment will enable and accelerate that pursuit.”
Chief Operating Officer Tom Surran also announced his resignation, effective Sept. 30.
“Since joining FLIR in 2004 through our acquisition of Indigo Systems, Tom has had an outsized impact on virtually all facets of the company’s operations and I would like to thank him for his extraordinary contributions to FLIR,” Cannon said.
Shares for the company rose around 1.4 percent to end Sept. 1 at $38.25.
• Contact Marissa Nall at [email protected]