Nortech Systems Names Jay D. Miller President and CEO
February 19 2019 - 9:25AM
Business Wire
Industry Veteran Brings Deep Experience in
Medical Imaging and Medical Devices
Nortech Systems Incorporated (NASDAQ: NSYS) today named Jay D.
Miller as president and chief executive officer, effective February
27. He has been serving as interim president since January 1 and
has been an independent director of the company since May 2018.
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Jay D. Miller, President & CEO of
Nortech Systems (Photo: Business Wire)
“We are pleased that Jay will guide Nortech Systems into the
future because he brings the vision, leadership and experience
necessary for us to achieve our next chapter of growth,” said David
Kunin, chairman of Nortech’s board of directors. “Our national
executive search process was widespread and rigorous, as we
evaluated numerous qualified candidates,” added Kunin. “After
careful review, Jay’s unique combination of management experience,
technical background and deep familiarity with our business made
him an outstanding choice.” Kunin also credited Miller’s important
role in strategic planning, his seamless transition from board
member and the enthusiastic reception he has received from senior
management across all locations.
Kunin cited Miller’s excellent marketing credentials and robust
understanding of the medical imaging and medical device markets,
including both emerging and established technology platforms
supported by Nortech. The medical market has posted strong growth
for Nortech the past few years, fueled in part by the company’s
expanding engineering capabilities.
Commenting on his new role, Miller said, “Nortech aspires to be
the most innovative and nimble engineering and manufacturing
services company in the Upper Midwest, while taking great care of
our employees, customers and vendor partners.” He added, “Nortech’s
greatest strength will always be our skilled and dedicated
employees, and I’m looking forward to working even more closely
with this very talented team.” Miller noted that the company’s
cutting-edge engineering and manufacturing services continue to
evolve to better serve customers across the medical, industrial,
defense and aerospace industries.
In recent years, Nortech’s strategic investments in the U.S.,
Mexico and China have diversified the company’s capabilities and
improved efficiencies to enhance profitability and support future
growth. For example, the Nortech medical device product development
group, which helps clients accelerate the commercialization process
from ideation through manufacturing, recently relocated to
Nortech’s headquarters in Maple Grove, Minn.
“I believe in our growth strategy – including leveraging these
investments – as the best path to enhancing shareholder value,
which remains a top priority of our entire management team,” Miller
commented.
Miller brings Nortech broad executive leadership and business
experience with a wide range of medical technology companies. He
also serves on the boards of a number of medical imaging and
medical device companies. Previously Miller held CEO positions with
IMRIS, Inc., Zonare, Inc. and Vital Images, Inc., in
the medical imaging industry. Earlier in his career Miller worked
for the medical divisions of both Siemens and GE.
He earned a master’s degree of business administration in
marketing and management from the Kellogg School of Management at
Northwestern University, a master’s degree in biomedical
engineering from the University of Virginia and a bachelor’s degree
in chemistry from Dartmouth College.
Chairman David Kunin reiterated the company’s gratitude to
Miller’s predecessor, Rich Wasielewski, who is retiring after 15
years with Nortech Systems as previously announced. Wasielewski
joined the company in 2004 as vice president and chief financial
officer; he was named senior vice president in 2008 and president
and CEO in 2014. “Rich made invaluable contributions to
strengthening Nortech’s foundation and spearheading our evolution
into a global solutions provider,” concluded Kunin. “We appreciate
his assistance to Jay and our entire leadership team throughout
this transition and wish him the very best in his retirement.”
About Nortech Systems
IncorporatedNortech Systems (www.nortechsys.com), based
in Maple Grove, Minn., is a full-service engineering and
electronics manufacturing services (EMS) provider of complex
interconnect solutions, printed circuit board assemblies,
higher-level assemblies and box builds. Markets served include
medical device, industrial and commercial equipment, aerospace and
defense. Nortech has a range of specialized, high-tech facilities
in the U.S., Latin America and Asia used for customized design,
manufacture, testing and repair of its solutions. Nortech Systems
is traded on the NASDAQ Stock Market under the symbol NSYS.
Forward-Looking
StatementsThis press release contains forward-looking
statements made pursuant to the safe harbor provision of the
Private Securities Litigation Reform Act of 1995. While this
release is based on management’s best judgment and current
expectations, actual results may differ and involve a number of
risks and uncertainties. Important factors that could cause actual
results to differ materially from the forward-looking statements
include, without limitation: volatility in market conditions which
may affect market supply of and demand for the company’s products;
increased competition; changes in the reliability and efficiency of
operating facilities or those of third parties; risks related to
availability of labor; commodity and energy cost instability;
general economic, financial and business conditions that could
affect the company’s financial condition and results of operations;
as well as risk factors listed from time to time in the company’s
filings with the SEC.
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Connie BeckNortech Systems Incorporated(952) 345-2244orWarren
DjerfBrookside Communications Group952-920-3908 /
warren@brookcomm.net
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