Timothy Powers held his last conference as CEO of Shelton-based Hubbell Thursday stepping aside as CEO, making way for David Nord.
“Before we discuss the financial results, I would like to take this opportunity to express what an honor and privelege it has been leading Hubbell over the past decade,” Powers said, noting that Nord was announced as the incoming CEO in December.
Powers then discussed the fourth quarter and final year results.
Hubbell’s net income rose to $71.9 million, or $1.20 per diluted share for the fourth quarter of 2012, compared to $70 million, or $1.17 per share a year ago. Net sales at the company for the quarter topped $752 million.
Nord was made president and COO of Hubbell in June and then appointed CEO in December. Powers will remain as chairman of the board.