Technology Research Corporation Announces Resignation of Chief Executive Officer
14 Febbraio 2011 - 5:10PM
Technology Research Corporation (Nasdaq:TRCI) announced today that
Owen Farren resigned his positions as Chairman of the Board, Chief
Executive Officer and President of the Company to pursue other
interests. The one-time charge associated with the management
change will be reflected in fourth quarter results. Ray
Malpocher, the Company's Lead Director, will oversee the daily
management of the Company until a successor Chief Executive Officer
of the Company has been appointed and qualified. The
Nominating and Governance Committee of the Board will initiate a
search for a replacement Chief Executive Officer immediately.
"We are committed to a smooth transition to new leadership,"
said Ray Malpocher, the Company's Lead Director.
About TRC
TRC is a recognized leader in providing cost effective
engineered solutions for applications involving power management
and control, intelligent battery systems technology and electrical
safety products based on our proven ground fault sensing and Fire
Shield (R) technology. These products are designed, manufactured
and distributed to the consumer, commercial and industrial markets
worldwide. The Company also supplies power monitors and control
equipment to the United States Military and its prime contractors.
More information is available at www.trci.net.
The Technology Research Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6266
CONTACT: Robert D. Woltil, Chief Financial Officer
Technology Research Corporation
Tel: (727) 812-0659
Fax: (727) 535-9691
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