AUGAT BOARD OF DIRECTORS NAMES WILLIAM R. FENOGLIO AS CEO; MARCEL P. JOSEPH WILL REMAIN CHAIRMAN.
Fenoglio said, "Marcel Joseph has made enormous contributions to the success of Augat. Under his stewardship, the Company has been restored to consistent profitability and growth. Augat's steady performance and positive recognition in its markets are, in large part, the result of his leadership. Augat has benefited greatly from Marcel Joseph's vision and skill."
"I can therefore say that I am assuming the leadership of a company in an excellent position to continue growing profitably. Looking ahead, I see exciting opportunities for Augat in each of its three principal markets, including telecommunications, automotive and interconnection products," Fenoglio said.
Vernon Alden, board member of Augat, said, "Augat is very fortunate to have found in Bill Fenoglio a leader who can build upon Marcel Joseph's extraordinary record of success. Like Marcel, Bill brings to the company the lessons of more than two decades at General Electric, a proven training ground for the development of gifted senior management."
Prior to becoming CEO of Barnes Group, Fenoglio had been its President and Chief Operating Officer since 1985. Before that, he was Vice President and General Manager of General Electric's Motor Business, a company he joined in 1961. During his tenure at General Electric, he was also Vice President and General Manager of the company's Refrigerator business, after holding a variety of sales, marketing and general management positions.
One of the largest manufacturers of connector products in the world, Augat Inc., is pursuing a strategy for growth in the automotive, communications, computer and industrial markets, through customer partnerships, new-product introductions, strategic acquisitions and ongoing productivity measures.
CONTACT: Augat Inc.
Ellen B. Richstone, 508/543-4300 or Sharon Merrill Associates James R. Buckley, 617/262-1800