Dr. Sam Broydo To Retire From VPG's Board of
Directors
MALVERN, Pa.--(BUSINESS WIRE)--
Vishay Precision Group, Inc. (NYSE: VPG), a leading producer of
precision sensors and systems, today announced the appointment of a new
independent member to its Board of Directors, Mr. Cary Wood.
Marc Zandman, VPG’s Chairman of the Board said of the appointment, “We
are fortunate to have Cary join the Board and we’re confident he will
add great value as he shares his expertise with us. We look forward to
drawing upon his counsel and his experiences, as he is highly
accomplished as a senior executive for several prominent, global firms,
most recently as Chief Executive Officer and director for a
publicly-traded global manufacturing company.”
Mr. Wood served as Chief Executive Officer of the Sparton Corporation
from November 2008 through February 2016 and as President of the Sparton
Corporation from April 2009 through February 2016. Previously, Mr. Wood
served in a variety of roles for Citation Corporation (now known as
Grede Holdings, LLC). Mr. Wood began his career with General Motors
Corporation followed by a period with United Technologies Corporation in
a variety of roles, including general management, operations and
engineering capacities. Mr. Wood received a Bachelor of Science in
Technology from Purdue University, a Master of Science in Industrial
Operations in the School of Management from Lawrence Tech University,
and an MBA in Finance from Loyola University-Chicago.
VPG also announced that Dr. Samuel Broydo, age 79, has informed the
Board of Directors of his decision to retire from the Board, and not to
stand for re-election, at its annual meeting on May 26, 2016.
Mr. Zandman added, “I would like to thank Dr. Broydo for his years of
counsel and extraordinary contributions while serving on the VPG Board.
We wish him well.”
About VPG
Vishay Precision Group, Inc. (VPG) is an internationally recognized
designer, manufacturer and marketer of: components based on its
resistive foil technology; sensors; and sensor-based systems
specializing in the growing markets of stress, force, weight, pressure,
and current measurements. VPG is a market leader of foil technology
products, providing ongoing technology innovations in precision foil
resistors and foil strain gages, which are the foundation of the
company's force sensors products and its weighing and control systems.
The product portfolio consists of a variety of well-established brand
names recognized for precision and quality in the marketplace. To learn
more, visit VPG at www.vpgsensors.com.
Forward-Looking Statements
From time to time, information provided by us, including but not limited
to statements in this report, or other statements made by or on our
behalf, may contain "forward-looking" information within the meaning of
the Private Securities Litigation Reform Act of 1995. Such statements
involve a number of risks, uncertainties, and contingencies, many of
which are beyond our control, which may cause actual results,
performance, or achievements to differ materially from those anticipated.
Such statements are based on current expectations only, and are subject
to certain risks, uncertainties, and assumptions. Should one or more of
these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from
those anticipated, expected, estimated, or projected. Among the factors
that could cause actual results to materially differ include: general
business and economic conditions, changes in the current pace of
economic recovery; difficulties or delays in completing acquisitions
(including the acquisition of Stress-Tek) and integrating acquired
companies; the inability to realize anticipated synergies and expansion
possibilities; difficulties in new product development; changes in
competition and technology in the markets that we serve and the mix of
our products required to address these changes; changes in foreign
currency exchange rates; difficulties in implementing our ERP systems
and the associated impact on manufacturing efficiencies and customer
satisfaction; difficulties in implementing our cost reduction
strategies, such as underutilization of production facilities, labor
unrest or legal challenges to our lay-off or termination plans,
operation of redundant facilities due to difficulties in transferring
production to lower- cost countries; and other factors affecting our
operations, markets, products, services, and prices that are set forth
in our Annual Report on Form 10-K for the fiscal year ended December 31,
2015. We undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160328005719/en/
VPG
Wendy Wilson
Senior Director Investor Relations and
Corporate Communications
919-374-5501
[email protected]
Source: VPG