CPS Technologies Corporation Announces Election of Francis J. Hughes, Jr., as Chairman of the Board of Directors
June 21 2018 - 2:57PM
CPS Technologies Corporation (NASDAQ:CPSH) today announced its
Board of Directors has elected Francis J. Hughes, Jr. as Chairman
of the Board, effective immediately.
Grant Bennett, President and CEO, said: “We have a very active,
fully-engaged Board of Directors, and the election of a chairman of
the Board will both strengthen our corporate governance and
facilitate the Board more deeply tapping into the expertise of
individual Board members to accelerate progress on our strategic
plan.”
Mr. Hughes has served as President of American Research and
Development Corporation (“ARD”), a venture capital firm, since
1992. ARD owns 17% of the Company’s shares. Mr. Hughes
joined ARD’s predecessor organization in 1982 and became Chief
Operating Officer of that entity in 1990. Prior to joining ARD, Mr.
Hughes was a consultant at The Boston Consulting Group, a Boston
based management consulting firm. Mr. Hughes has co-founded and
served as a General Partner of many venture capital funds.
Throughout his career, Mr. Hughes has served in management roles,
including chairman, CEO and CFO in non-financial companies, both
public and private. Mr. Hughes has a S.B. and M.S. from the
Massachusetts Institute of Technology and an M.B.A from the Harvard
Business School.
About CPS CPS Technologies Corporation is a global leader in
producing metal-matrix composite components used to improve the
reliability and performance of various electrical systems.
CPS products are used in motor controllers for hybrid and electric
vehicles, high-speed trains, subway cars and wind turbines.
They are also used as heatspreaders in internet switches, routers
and high-performance microprocessors. CPS also develops and
produces metal-matrix composite armor.
CPS Technologies
Corporation
Ralph Norwood, Chief Financial Officer 111 South Worcester
Street
Norton, MA 02766 Telephone: (508) 222-0614 Web
Site: www.alsic.com
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