Littelfuse, Inc. (NASDAQ: LFUS) has announced a leadership transition involving Senior Vice President and General Manager of the Electronics Business, Deepak Nayar. According to the company’s Form 8-K filed on September 10, 2026, Mr. Nayar intends to transition from his current role on December 31, 2026, to a Special Advisor to the Chief Executive Officer effective January 1, 2027.
In connection with this transition, Littelfuse and Mr. Nayar have entered into a Special Advisor Employment Agreement. The filing details the compensation arrangements for this new position. For the duration of the Advisory Term, Mr. Nayar will receive equal monthly payments totaling $1,004,220. This amount consists of his current annual base salary of $557,900 plus $446,320, which represents 100% of his current 80% target Annual Incentive Plan (AIP) award.
Additionally, Mr. Nayar is eligible for accelerated vesting and related treatment for his long-term incentive (LTI) awards remaining outstanding upon his retirement from the company at the end of the Advisory Term. However, during the Advisory Term, he will not be eligible for new AIP or LTI awards.
The company’s press release further outlines the broader organizational changes. Effective January 1, 2027, Dr. Karim Hamed will assume the expanded role of Senior Vice President and General Manager, CCDI Market & Electronics Segment. In this role, Dr. Hamed will combine the Electronics and Semiconductor businesses under unified leadership and oversee the company’s CCDI market strategy. Dr. Hamed joined Littelfuse in 2025 as the Senior Vice President and General Manager of the Semiconductor Business and brings over two decades of global leadership experience in the semiconductor industry.
Mr. Nayar is scheduled to retire at the end of 2027 following a distinguished career spanning more than 20 years at Littelfuse. Littelfuse describes itself as a diversified, industrial technology manufacturing company serving over 100,000 end customers across more than 20 countries.
