Nortech Systems Announces the Addition of Stacy Kruse to its Board of Directors
May 13 2021 - 5:30PM
Business Wire
Nortech Systems Incorporated (Nasdaq: NSYS), a leading provider
of engineering and manufacturing solutions for complex
electromedical and electromechanical products serving the medical,
aerospace & defense and industrial markets, today announced the
addition of Stacy Kruse to its board of directors.
Ms. Kruse will contribute strategic capabilities in finance and
operations to support Nortech’s growth initiatives and
profitability objectives. Ms. Kruse currently serves as Chief
Operating Officer and Chief Financial Officer of Portico Benefit
Services (Portico). She has led innovation oriented and
transformational growth strategies, while staying true to the
Portico’s mission. Ms. Kruse leverages a strong financial and
marketing background, previously serving as CFO & Treasurer at
Wilsons Leather, Director of Finance at US Bank and Director of
Operations at Carlson Marketing Group. Ms. Kruse served on the
Washburn Center for Children Board of Directors. In 2018, she was
recognized as a Twin Cities CFO of the Year by the Minneapolis St.
Paul Business Journal. Ms. Kruse is an independent director and
qualified as an “audit committee financial expert.” She will serve
as Chair of the Audit Committee.
David Kunin, Chairman of the Board stated, “Stacy joins a strong
board and I am confident she will be a valuable partner with
management.” Jay Miller, Nortech System’s president and CEO, added,
“We are delighted to welcome Ms. Kruse to our board of directors.
She comes to Nortech not only with a strong financial background
but with impressive strategic skills and experience that will help
Nortech face future challenges that come with our growth
objectives.”
In March of 2021, Kathleen
(Kitty) Iverson notified the Board that for personal reasons, she
would not stand for reelection. Ms. Iverson's term as a director
ended at the conclusion of the annual meeting of shareholders of
the Company on May 13, 2021.
“Kitty has been a critical
member of the Nortech board for six years,” noted David Kunin, “She
has not only been the chair of the Audit committee but also a
steady and very knowledgeable voice in the boardroom.”
Jay D. Miller, added, “She has
overseen a great number of significant positive changes during her
tenure on Nortech’s board, but notably will be leaving Nortech with
a much stronger balance sheet that positions the company well for
future growth.”
Nortech uses intelligence, innovation, speed, and global
expertise to provide high-quality, high performance engineering and
manufacturing solutions to resolve our customers’ most important
challenges to be leaders in secure, reliable digital connectivity
& data management. Nortech strives to be a premier workplace
that fosters valued relationships internally and in our
communities.
About Nortech Systems
Incorporated Nortech Systems is a leading provider of
design and manufacturing solutions for complex electromedical
devices, electromechanical systems, assemblies, and components.
Nortech Systems primarily serves the medical, aerospace &
defense, and industrial markets. Its design services span concept
development to commercial design, and include medical device,
software, electrical, mechanical, and biomedical engineering. Its
manufacturing and supply chain capabilities are vertically
integrated around wire/cable/interconnect assemblies, printed
circuit board assemblies, as well as system-level assembly,
integration, and final test. Headquartered in Maple Grove, Minn.,
Nortech currently has seven manufacturing locations and design
centers across the U.S., Latin America, and Asia. Nortech Systems
is traded on the NASDAQ Stock Market under the symbol NSYS.
Nortech’s website is www.nortechsys.com.
Forward-Looking Statements
This press release contains forward-looking statements made
pursuant to the safe harbor provision of the Private Securities
Litigation Reform Act of 1995 including without limitation
statements regarding the Company’s growth and profitability
objectives and initiatives. Except as required by applicable law,
including the securities laws of the United States and the rules
and regulations of the United States Securities and Exchange
Commission, we undertake no obligation to publicly update or revise
any forward-looking statement, whether as a result of new
information, future events or otherwise, to reflect actual results
or changes in factors or assumptions affecting such forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20210513005959/en/
Chris Jones, CFO cjones@nortechsys.com 952-345-2244
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