AUGAT BOARD OF DIRECTORS NAMES WILLIAM R. FENOGLIO AS CEO; MARCEL P. JOSEPH WILL REMAIN CHAIRMAN.MANSFIELD Mansfield, city and district, England
Mansfield, city (71,325) and district, Nottinghamshire, central England, on the western border of Sherwood Forest. The city lies in a coal district, with manufactures of hosiery, shoes, and metal products. , Mass.--(BUSINESS WIRE)-- Dec. 20, 1994 -- Augat Inc. (NYSE NYSE
See: New York Stock Exchange :AUG) today announced that William R. Fenoglio, currently Augat's president and chief operating officer Chief Operating Officer (COO)
The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , has been named chief executive officer by its board of directors, effective January 1, 1995. This succession had been anticipated when Fenoglio, formerly President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Barnes Group Inc., joined Augat in September 1994. Fenoglio succeeds Marcel Marcel
the fast ebbing of time impels him to devote his life to recording it. [Fr. Lit.: Proust Remembrance of Things Past]
See : Time P. Joseph, age 59, who is retiring after serving as CEO since February 1988. Mr. Joseph will continue as Augat's Chairman of the Board.
Fenoglio said, "Marcel Joseph has made enormous contributions to the success of Augat. Under his stewardship stewardship
the occupation of being a steward or custodian. Referring to animals it implies the caring sort of relationship based on an acceptance of the need to include the rights of animals in overall plans to maintain financial viability. , 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 Communicating information, including data, text, pictures, voice and video over long distance. See communications. , automotive and interconnection in·ter·con·nect
v. in·ter·con·nect·ed, in·ter·con·nect·ing, in·ter·con·nects
To be connected with each other: The two buildings interconnect.
v.tr. 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