Bel Announces Senior Management Promotions
May 19 2015 - 4:10PM
Business Wire
Bel Fuse Inc. (NASDAQ: BELFA) (NASDAQ: BELFB) today
announced the promotions of Dennis Ackerman to President of Bel
Power Solutions, and Peter Bittner to President of Bel Connectivity
Solutions.
Daniel Bernstein, Bel's President and CEO, said, "Bel is
fortunate to have two such talented and dedicated executives to
take charge of our Power Solutions and Connectivity Solutions
businesses during this period of rapid growth for our Company.
These well-earned promotions reflect the significant contributions
Dennis and Pete have made to the success of Bel's growth
strategy.
"Dennis Ackerman has guided the recent development and
integration of our Power business, most significantly since our
acquisition of Power One last year. Under Dennis's leadership, Bel
Power is reestablishing itself in key markets, and has dramatically
improved the quality, service and delivery performance of our
manufacturing facilities in China in just the past few months. Our
customers are responding positively to the gains Dennis has helped
achieve. With Dennis at the helm, we see a bright future for Bel
Power Solutions.
"Pete Bittner played an indispensable role in the restructuring
of our Cinch Connectors business in the United States, as well as
the integration of its sales and marketing team into our global
Connectivity Solutions business, formerly Emerson Network Power
Connectivity Solutions, which we also acquired last year. We are
confident that Pete will continue to excel with his expanded
responsibilities at Bel Connectivity Solutions."
Dennis Ackerman, 52 years old, joined Bel in 1986 and has held
the positions of Customer Service Manager, Sales Manager,
Purchasing Manager and Operations Manager. In 2001, he was named
Vice President of Operations. In addition, Mr. Ackerman is
currently a director of Dongguan Transpower Electric Products
Company Limited. Mr. Ackerman has an MBA degree from Fairleigh
Dickinson University.
Peter Bittner, 45 years old, began his career in 1991 at Stewart
Connector Systems. He joined Insilco Technologies, Stewart
Connector's parent company, in 1999, serving as Industry Marketing
Manager. Following Insilco's acquisition by Bel in 2003, Mr.
Bittner was named General Manager of Stewart Connector. Later, Mr.
Bittner assumed responsibility for the acquired Cinch Connector
business and the acquired Gigacom Interconnect, Array Connector and
Fibreco businesses. He holds a Bachelor of Science degree in
Business Management.
About Bel
Bel (www.belfuse.com) designs, manufactures and markets a broad
array of products that power, protect and connect electronic
circuits. These products are primarily used in the networking,
telecommunications, computing, military, aerospace, transportation
and broadcasting industries. Bel's product groups include Magnetic
Solutions (integrated connector modules, power transformers, power
inductors and discrete components), Power Solutions and Protection
(front-end, board-mount and industrial power products, module
products and circuit protection), and Connectivity Solutions
(expanded beam fiber optic, copper-based, RF and RJ connectors and
cable assemblies). The Company operates facilities around the
world.
Forward-Looking Statements
Except for historical information contained in this press
release, the matters discussed in this press release (including the
statements regarding potential sales growth, efforts to renew
customer relationships with former Power Solutions customers) are
forward-looking statements (as described under the Private
Securities Litigation Reform Act of 1995) that involve risks and
uncertainties. Actual results could differ materially from Bel's
projections. Among the factors that could cause actual results to
differ materially from such statements are: the market concerns
facing our customers; the continuing viability of sectors that rely
on our products; the effects of business and economic conditions;
difficulties associated with integrating recently acquired
companies; capacity and supply constraints or difficulties; product
development, commercialization or technological difficulties; the
regulatory and trade environment; risks associated with foreign
currencies; uncertainties associated with legal proceedings; the
market's acceptance of the Company's new products and competitive
responses to those new products; and the risk factors detailed from
time to time in the Company's SEC reports. In light of the risks
and uncertainties, there can be no assurance that any
forward-looking statement will in fact prove to be correct. We
undertake no obligation to update or revise any forward-looking
statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20150519006742/en/
Investor Contact:Neil Berkman Associates(310)
477-3118info@berkmanassociates.comorCompany Contact:Bel Fuse
Inc.Daniel BernsteinPresident201.432.0463ir@BelFuse.com
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