DOW JONES NEWSWIRES
SL Industries Inc. (SLI) hired William Fejes Jr. as president
and chief executive, succeeding James Taylor, who left in mid-June
along with the company's chief financial officer.
The maker of power electronics and communications gear has seen
a sharp increase in performance in recent quarters benefiting from
a restructuring that involved headcount reduction, frozen salaries
and decreased retirement benefits. Electrical manufacturers have
benefited of late from a nascent global recovery.
Fejes most recently served as chief operating officer of
Seakeeper Inc., a maker of motion stabilization equipment for
boats. Earlier, he was president and chief executive of TB Wood's
Corp. (TBWC) and served in management roles at Danaher Corp. (DHR).
He's on the board at Broadwind Energy Inc. (BWEN).
Taylor left in mid-June, as did Chief Financial Officer David
Nuzzo. No reason was given at the time, and Chairman Glen Kassan
stepped into both roles on an interim basis. He is still performing
CFO duties.
SL's shares closed Thursday at $12.01 and were inactive
premarket. The stock is up 72% the past year.
-By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240;
matthew.jarzemsky@dowjones.com