ORLANDO, Fla.--(BUSINESS WIRE)--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.