Crane NXT Announces Appointment of Jeffrey Benck to Board of Directors

Rhea-AI Summary

Crane NXT (NYSE: CXT) appointed Jeffrey Benck to its Board of Directors and announced director James L.L. Tullis will not stand for reelection at the 2026 Annual Meeting. Benck brings over 35 years of technology leadership, currently serving as CEO of Benchmark Electronics since March 2019.

Mr. Tullis will cease serving at the conclusion of the Annual Meeting scheduled for May 21, 2026. The Board highlighted Benck’s leadership and customer focus as strategic support for Crane NXT.

Positive

• Added director Jeffrey Benck with 35+ years of technology leadership
• Benck currently serves as CEO of Benchmark Electronics since March 2019
• Board appointment strengthens experience in software, services, and hardware

Negative

• Director James L.L. Tullis will leave the Board at the Annual Meeting on May 21, 2026

News Market Reaction – CXT

-1.35%

1 alert

-1.35% News Effect

On the day this news was published, CXT declined 1.35%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

WALTHAM, Mass., March 12, 2026 (GLOBE NEWSWIRE) -- Crane NXT, Co. (NYSE: CXT) ("Crane NXT" or the "Company"), a global leader in authentication and traceability technologies, today announced that its Board of Directors (“Board”) has appointed Jeffrey Benck as a Director of Crane NXT.

Mr. Benck brings over 35 years of broad industry experience, as a chief executive officer and leader of technology companies, spanning software, services and hardware. Since March 2019, Mr. Benck has served as President, Chief Executive Officer and Director of Benchmark Electronics (NYSE: BHE), a global provider of engineering design and manufacturing services. Mr. Benck also serves as a Director and Chair of the Human Resource and Governance Committee of UNS Energy Corporation, the non-public subsidiary of Fortis Inc.

Prior to joining Benchmark Electronics, Mr. Benck served as President and Chief Executive Officer of Lantronix, global provider of secure data access and management solutions for Internet-of-Things (IOT) and information technology assets. Prior to Lantronix, Mr. Benck served as President and Chief Executive Officer of Emulex Corporation, a global supplier of advanced networking, monitoring, and management solutions from July 2013 until Emulex was acquired by Avago Technologies (now Broadcom, Inc.) in May 2015. Prior to Emulex, Mr. Benck was President and Chief Operating Officer of QLogic Corporation, a supplier of storage networking solutions. He also spent 18 years at IBM Corporation where he held a variety of senior leadership roles. 

Mr. Benck holds a Master of Science degree in management of technology from University of Miami and a Bachelor of Science degree in mechanical engineering from Rochester Institute of Technology. 

On March 6, 2026, James L.L. Tullis, a current Director of the Board, notified the Board that he will not stand for reelection at the Company’s 2026 Annual Meeting of Stockholders (the “Annual Meeting”). Accordingly, Mr. Tullis will cease to serve as a director of the Company at the conclusion of the Annual Meeting scheduled for May 21, 2026.

John S. Stroup, Chairman of the Crane NXT Board, said: “I am pleased to welcome Jeff to Crane NXT’s Board of Directors. With over 35 years of experience across technology-driven businesses, Jeff offers a valuable combination of seasoned leadership and customer-focus that will strengthen our support of Crane NXT’s strategy. I would also like to thank Jim for his thoughtful perspective and partnership over the past several years, which have been invaluable to the Company.”

About Crane NXT, Co.

Crane NXT is a global leader in authentication and traceability technologies. Through its industry-leading businesses, Crane NXT provides customers with advanced technologies to secure high-value products for governments and leading global brands, sophisticated detection equipment and systems, and proprietary products to protect identities. Crane NXT’s approximately 5,000 employees help its customers protect their most important assets and ensure secure, seamless transactions around the world every day. For more information visit www.cranenxt.com.

Investors:
Matt Roache
VP, Investor Relations
matthew.roache@cranenxt.com

FAQ

Who is Jeffrey Benck and why was he appointed to Crane NXT's board (CXT)?

Jeffrey Benck is a seasoned technology CEO with over 35 years of experience. According to Crane NXT, Benck brings leadership across software, services, and hardware, currently serving as CEO of Benchmark Electronics since March 2019, which the company says supports its strategic direction.

When will James L.L. Tullis stop serving as a Crane NXT director (CXT)?

James L.L. Tullis will cease serving at the conclusion of the 2026 Annual Meeting on May 21, 2026. According to Crane NXT, he notified the Board on March 6, 2026 that he will not stand for reelection, triggering the planned departure.

How might Jeffrey Benck's Benchmark Electronics role influence Crane NXT (CXT)?

Benck's Benchmark Electronics CEO experience may enhance operational and manufacturing insight for Crane NXT. According to Crane NXT, his background in engineering, design and manufacturing services aligns with the company’s product and customer-focus strategy.

What is the effective date of the board change announced by Crane NXT (CXT)?

The effective board change occurs at the conclusion of the Annual Meeting on May 21, 2026. According to Crane NXT, Jeffrey Benck has been appointed now and Mr. Tullis will step down when the meeting concludes.

Does the board appointment of Jeffrey Benck signal a strategic shift at Crane NXT (CXT)?

The appointment emphasizes governance and technology leadership rather than immediate operational change. According to Crane NXT, the Board views Benck’s leadership and customer focus as strengthening support for the company’s existing strategy.