The LGL Group, Inc. (NYSE MKT: LGL) (the “Company”) announced that its
Chief Financial Officer, R. LaDuane Clifton, has informed the Company of
his resignation, effective March 31, 2015, due to his acceptance of a
similar position in the pharmaceutical industry.
Michael Ferrantino, LGL’s Executive Chairman and Chief Executive
Officer, said: “LaDuane has made significant contributions during his
tenure with the Company. Since 2009, he has been a key part of improving
how we run the business, introducing new investment discipline,
improving our corporate governance, and most recently has been a partner
in helping me restart the Company. We wish him nothing but success in
the future.”
LGL’s Chairman of the Board, Marc Gabelli, said: “For myself, as well as
the Board, we extend our thanks to LaDuane for his many contributions to
the Company. He has built and leaves us with a solid finance
organization that will help build shareholder value.”
About The LGL Group, Inc.
The LGL Group, Inc., through its wholly-owned subsidiary MtronPTI,
manufactures and markets highly-engineered electronic components used to
control the frequency or timing of signals in electronic circuits. These
components ensure reliability and security in aerospace and defense
communications, synchronize data transfers throughout the wireless and
internet infrastructure, and provide low noise and base accuracy for lab
instruments.
Headquartered in Orlando, Florida, the Company has additional design and
manufacturing facilities in Yankton, South Dakota and Noida, India, with
local sales offices in Sacramento, California and Hong Kong.
For more information on the Company and its products and services,
contact LaDuane Clifton at The LGL Group, Inc., 2525 Shader Rd.,
Orlando, Florida 32804, (407) 298-2000, or visit www.lglgroup.com
and www.mtronpti.com.
Caution Concerning Forward Looking Statements
This press release may contain forward-looking statements made in
reliance upon the safe harbor provisions of Section 27A of the
Securities Act of 1933, as amended, and Section 21 E of the Securities
Exchange Act of 1934, as amended. Forward-looking statements include all
statements that do not relate solely to historical or current facts, and
can be identified by the use of words such as “may,” “will,” “expect,”
“project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,”
“should,” “continue” or the negative versions of those words or other
comparable words. These forward-looking statements are not guarantees of
future actions or performance. These forward-looking statements are
based on information currently available to us and our current plans or
expectations, and are subject to a number of uncertainties and risks
that could significantly affect current plans, anticipated actions and
our future financial condition and results. Certain of these risks and
uncertainties are described in greater detail in our filings with the
Securities and Exchange Commission. We are under no obligation to (and
expressly disclaim any such obligation to) update or alter our
forward-looking statements, whether as a result of new information,
future events or otherwise.
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