The LGL Group Announces Change in Leadership at MtronPTI
September 27 2016 - 4:05PM
Business Wire
The LGL Group, Inc. (NYSE MKT:LGL) (the “Company” or “LGL”)
today announced the appointment of Robert Mamazza, Ph.D. to
President and CEO of the Company’s primary subsidiary, M-tron
Industries, Inc. (“MtronPTI”). Effective, October 1, 2016, Dr.
Mamazza will be replacing Michael J. Ferrantino, Sr., who will be
stepping aside as CEO of MtronPTI, but will continue as Chairman
and CEO of LGL.
Mr. Ferrantino stated, “Now, with both of our key subsidiaries,
MtronPTI and Precise Time and Frequency, LLC (“PTF”), headed by
experienced managers, I will spend more of my time focused on
strategic issues so that we can ultimately increase
shareholder value.”
Mr. Ferrantino added, “We will continue to judiciously watch
expenses and keep our corporate headquarters in Orlando with just
two people, myself and Patti Smith our CFO.”
About The LGL Group, Inc.
The LGL Group, Inc., operates through two wholly-owned
subsidiaries. MtronPTI manufactures and markets highly-engineered
electronic components used to control the frequency or timing of
signals in electronic circuits. PTF is a technology leader in the
design of high performance Frequency and Time reference standards
that form the basis for timing and synchronization in many
applications.
Headquartered in Orlando, Florida, the Company has additional
design and manufacturing facilities in Yankton, South Dakota,
Wakefield, Massachusetts 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 Patti Smith 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 21E 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160927006627/en/
The LGL Group, Inc.Patti A. Smith,
407-298-2000pasmith@lglgroup.com
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