LGL Announces Change in Senior Leadership
March 10 2015 - 9:32AM
Business Wire
The LGL Group, Inc. (NYSE MKT: LGL) (the “Company”) announced
that its Chief Financial Officer, R. LaDuane Clifton, has informed
the Company of his resignation, effective March 31, 2015, due to
his acceptance of a similar position in the pharmaceutical
industry.
Michael Ferrantino, LGL’s Executive Chairman and Chief Executive
Officer, said: “LaDuane has made significant contributions during
his tenure with the Company. Since 2009, he has been a key part of
improving how we run the business, introducing new investment
discipline, improving our corporate governance, and most recently
has been a partner in helping me restart the Company. We wish him
nothing but success in the future.”
LGL’s Chairman of the Board, Marc Gabelli, said: “For myself, as
well as the Board, we extend our thanks to LaDuane for his many
contributions to the Company. He has built and leaves us with a
solid finance organization that will help build shareholder
value.”
About The LGL Group, Inc.
The LGL Group, Inc., through its wholly-owned subsidiary
MtronPTI, manufactures and markets highly-engineered electronic
components used to control the frequency or timing of signals in
electronic circuits. These components ensure reliability and
security in aerospace and defense communications, synchronize data
transfers throughout the wireless and internet infrastructure, and
provide low noise and base accuracy for lab instruments.
Headquartered in Orlando, Florida, the Company has additional
design and manufacturing facilities in Yankton, South Dakota and
Noida, India, with local sales offices in Sacramento, California
and Hong Kong.
For more information on the Company and its products and
services, contact LaDuane Clifton at The LGL Group, Inc., 2525
Shader Rd., Orlando, Florida 32804, (407) 298-2000, or visit
www.lglgroup.com and www.mtronpti.com.
Caution Concerning Forward Looking Statements
This press release may contain forward-looking statements made
in reliance upon the safe harbor provisions of Section 27A of the
Securities Act of 1933, as amended, and Section 21 E of the
Securities Exchange Act of 1934, as amended. Forward-looking
statements include all statements that do not relate solely to
historical or current facts, and can be identified by the use of
words such as “may,” “will,” “expect,” “project,” “estimate,”
“anticipate,” “plan,” “believe,” “potential,” “should,” “continue”
or the negative versions of those words or other comparable words.
These forward-looking statements are not guarantees of future
actions or performance. These forward-looking statements are based
on information currently available to us and our current plans or
expectations, and are subject to a number of uncertainties and
risks that could significantly affect current plans, anticipated
actions and our future financial condition and results. Certain of
these risks and uncertainties are described in greater detail in
our filings with the Securities and Exchange Commission. We are
under no obligation to (and expressly disclaim any such obligation
to) update or alter our forward-looking statements, whether as a
result of new information, future events or otherwise.
The LGL Group, Inc.R. LaDuane Clifton,
407-298-2000lclifton@lglgroup.com
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