Livermore, Calif. — August 19, 2024 — Topcon Positioning Systems has announced that Ray O’Connor, president and chief executive officer, will retire in September 2025 after over three decades of exceptional leadership. O’Connor will transition to the role of Chairman of the Topcon Positioning Systems Board of Directors effective September 1, 2024, providing guidance and support to the executive leadership team during this important year of transition.
Succeeding O’Connor as president and CEO is Ivan Di Federico, who currently serves as executive vice president and chief strategy officer for Topcon Positioning Systems. After two decades with the company, Di Federico will assume his new role on September 1, 2024.
“It has been a true privilege to lead Topcon Positioning Systems for the past three decades and witness the incredible growth and evolution of the company,” said Ray O’Connor. “I am immensely proud of what our team has accomplished, and confident that Ivan is the right leader to take the company into the future. His deep technical expertise, strategic vision, and proven track record of driving innovation make him the ideal choice to lead the company through its next chapter of growth and success.”
Under O’Connor’s leadership, Topcon Positioning Systems has experienced dramatic organic growth and expansion into new markets and product lines. During his tenure, he was responsible for numerous key acquisitions, as well as the expansion into GNSS, radios, machine automation, and global positioning software and workflow solutions for the construction and precision agriculture industries.
“Ray has made significant contributions to the global positioning industry through his many patents, inspired by his product vision and application experience — I am honored to succeed him as president and CEO of Topcon Positioning Systems,” said Ivan Di Federico. “Ray has built an exceptional company and a talented team, and I look forward to building upon this strong foundation to drive continued innovation and growth. As we navigate an increasingly complex and rapidly evolving market landscape, I am confident that our strategic focus, operational excellence, and world-class solutions will position the company for continued success.”
In addition to the leadership transition, Topcon also announced that Philip Thach will be promoted to executive vice president (EVP) chief operating officer, and EVP chief financial officer, effective September 1, 2024. Thach joined Topcon in 2018 as CFO and has been instrumental in developing financial controls, strategic planning, and operational efficiencies.
The announcement of these executive leadership changes reflects Topcon’s commitment to a thoughtful and well-planned succession process that will ensure a smooth transition and continued momentum for the company, while maintaining its customer-centric culture and values. With a strong leadership team in place, Topcon is poised to build on its history of innovation and market leadership.
For more information on Topcon Positioning Systems, visit topconpositioning.com.
About Topcon Positioning Systems
Topcon Positioning Systems is an industry-leading designer, manufacturer and distributor of precision measurement and workflow solutions for the global construction, geospatial and agriculture markets. Topcon Positioning Systems is headquartered in Livermore, California, U.S. (topconpositioning.com, LinkedIn, Twitter, Facebook, Instagram). Its European head office is in Zoetermeer, Netherlands. Topcon Corporation (topcon.com), founded in 1932, is traded on the Tokyo Stock Exchange (7732).
Bios
Ray O’Connor
Chairman of the Board
Topcon Positioning Systems
Ray O’Connor is Chairman of the Topcon Positioning Systems (TPS) Board of Directors effective September 1, 2024, and will provide guidance and support to the executive leadership. He served as President and Chief Executive Officer of TPS 2002 – 2024. He also serves as Executive Vice President and General Manager of the Positioning Company for Topcon Corporation, the parent company of TPS based in Japan.
Additionally, he has served as Chairman of Topcon Europe Positioning Business since 2005. He is a Director of Topcon America Corporation and Topcon Europe BV.
From its headquarters in Livermore, California, Topcon Positioning Systems manages more than 30 operations located in 15 countries on five continents, with a workforce of more than 2,000 people engaged in the design, manufacturing and distribution of precision measurement and workflow solutions for the global construction, geospatial and agriculture markets. TPS is driven to help meet the global demand for new and improved infrastructure and sustainable agriculture through the increased adoption of job site and farm automation systems.
After joining Topcon in 1993, O’Connor led the growth of TPS through strategic initiatives beginning in 1995. Since then, TPS revenue has experienced dramatic organic growth, while adding new revenue and market opportunities. He has made significant contributions to the global positioning industry through his many patents, inspired by his product vision and application experience.
He directed the acquisition of various companies including Advanced Grade Technology; JPS, Inc.; Kee Technologies, headquartered in Australia; Digi-Star, headquartered in the United States; Wachendorff Elektronik, headquartered in Germany; and NORAC Industries, headquartered in Canada. Most recently, he continued the expansion of the company’s global software and workflow solutions business in the horizontal and vertical construction markets through purchases of companies including, Viasys VDC and ThunderBuild BV Group. In 2023, he led the acquisition of wireless technology innovator Satel Oy, headquartered in Finland.
O’Connor has received multiple business and academic honors as a result of his leadership in the positioning and geospatial industries. In 2006, he was the first non-Japanese recipient of the Toshiba Corporation Business Performance Award in its 130-year history. He received the award for his “superior leadership and performance” in creating a leading market share for Topcon positioning products in the global civil engineering and construction markets.
More recent awards include honorary doctorates from his alma mater, the Dublin Institute of Technology (Ireland), for “achievements in international business and innovation” and the Second University of Naples (Italy) for “industrial design for innovation.” He was named Geospatial Business Leader of the Year for 2012, recognized “as the champion of surveying and positioning technologies in the world.”
In 2013, O’Connor became the youngest inductee into the elite Association of Equipment Manufacturers Hall of Fame, which recognizes and celebrates outstanding individuals in the off-road equipment industry and their legacy of innovation, service and leadership. In 2016, he was recognized by Irish American magazine as one of the top 100 U.S. business leaders with Irish heritage.
In 2019, he was inducted into the National Academy of Construction, whose mission is to recognize individuals for their distinguished contributions to the industry and share their expertise as a service to the nation.
He served on the Board of Directors of the Association of Equipment Manufacturers from 2019 through 2022, as well as its CE Sector Board from 2014 through 2018.
LinkedIn: Ray O’Connor
Ivan Di Federico
President and Chief Executive Officer
Topcon Positioning Systems
Ivan Di Federico will assume the position of President and Chief Executive Officer of Topcon Positioning Systems, Inc. (TPS), headquartered in Livermore, California, on September 1, 2024.
His most recent position was Chief Strategy Officer and Executive Vice President of TPS. In this role, he led important initiatives to create strategic business alliances and acquisitions. Additionally, he led the advanced research and development teams working on future automation technologies. Previously, he was responsible for the TPS Global Engineering organization, among other leadership roles over the course of his two decades with Topcon.
He serves on the board of directors for multiple Topcon entities, including Topcon Positioning Systems, Inc., Topcon Positioning Systems (Aust) Pty Ltd., Topcon Positioning Italy S.r.l., Topcon Agriculture S.r.l., Tierra S.p.A., Tierra America, Inc., Topfloor S.r.l., and Satel Oy. He is also Senior Executive Officer of Topcon Corporation, the parent company of TPS based in Japan.
He began his career dedicated to automatic control technology development for pavers, milling machines, road rollers and soil compactors, first with Bitelli in 1994 and then Caterpillar in 2000, upon its acquisition of Bitelli. From Caterpillar, he moved to Product Marketing Management at Sauer-Danfoss, Inc., developing electrohydraulic products and solutions. Under his leadership, Sauer-Danfoss launched a system of modular controllers, which are still in production today. His association with Topcon began in 2005 as President and CEO of TSD Integrated Controls, a joint venture company of Topcon Positioning Systems with Sauer-Danfoss, Inc.
In 2008, he moved to TPS as Senior Vice President of Global Engineering, managing a team of more than 500 engineers and driving innovation, such as 3D GNSS (global navigation satellite system) controls for high-speed machine operation of dozers, excavators and motor graders. He led Topcon’s engineering development of the first factory fit introduction of 3D machine controls in dozers with Komatsu and John Deere.
In addition to the construction industry, he played an integral role in Topcon’s entry into the global agriculture market, driving technological innovations with GNSS auto steering and variable rate controls, and developing key OEM relationships.
He holds numerous patents in survey, construction automation, and precision agriculture technologies.
In addition to technological developments, he has led numerous business development initiatives for Topcon through his vast international business experience and relationships with customers and partners globally, including key acquisitions in both the construction and agriculture markets. In 2008, he drove the creation of a joint venture telematics company with Divitech S.p.A. (Italy) — Tierra S.p.A.— and serves as its President and CEO. Tierra is a global group composed of three companies, including Tierra America, Inc. in the U.S., and the Tierra and Sumitomo joint venture company WeeO, driving the development of the telematics business in Southeast Asia.
He was integral to the important development of the European TPS R&D center in Concordia, Italy, which is dedicated to construction and agriculture technology testing and training. The site is one of three such centers, including at the TPS global headquarters in Livermore, California, and in Adelaide, Australia, which support the development, manufacturing and validation of the company’s measurement technologies to further enable both sustainable agriculture and infrastructure.
Ivan has broad technical and business competencies earning a master’s degree with honors in Aeronautical Engineering from the University of Pisa in Italy, and an MBA from the Open University Business School of Milton Keynes in the United Kingdom. He also earned a degree in Innovation from the London School of Economics.
Philip Thach
Executive Vice President, Chief Operating Officer, Chief Financial Officer
Topcon Positioning Systems
Philip Thach will be appointed to the position of Executive Vice President, Chief Operating Officer for Topcon Positioning Systems (TPS), headquartered in Livermore, California, effective September 1, 2024, in addition to his position as Executive Vice President, Chief Financial Officer. In this expanded role, he will be responsible for leading the day-to-day business operations and partnering with C-suite to develop and implement business strategies and talent capability to drive long-term growth and profitability while optimizing our annual operating plan. He also serves as an Executive Officer of Topcon Corporation, the parent company of TPS based in Japan.
With over two decades of financial leadership in Silicon Valley, Philip joined Topcon in 2018 as CFO. He has been instrumental in developing his organization to be a value-added business partner and fostering a culture of transparency, teamwork, discipline, and data-driven decision-making, driving sustainable growth through strategic planning and operational efficiency.
As CFO, Philip spearheaded the development of the Long-Range Planning (LRP) and Annual Operating Plan (AOP) processes, driving strategy, insights and delivering results. In 2022, Philip expanded his role to oversee Global Operations, where he optimizes manufacturing and supply chain processes through continuous process improvements and automation.
Philip credits Topcon’s unique culture, unwavering support from leader Ray O’Connor, transparency and a collaborative approach to innovation for his success.
Prior to Topcon, Philip held leadership positions at Maxim Integrated, Fairchild, IITM Foundation and ALW, where he scaled finance organizations, implemented financial systems, supported fundraising initiatives, and managed operational finance, FP&A, M&A and risk management. This experience along with his collaborative leadership style equips him to effectively partner with business leaders, optimize operations, and ensure strong financial controls, compliance, and reporting.
Philip currently serves on the boards of directors of Topcon Positioning Systems, SATEL Oy and is an advisory board member of Rockfish Data. He holds an MBA in Corporate Finance from Golden Gate University, a degree in Accounting from San Francisco State University and is a CPA (inactive).
LinkedIn: Philip Q. Thach
