Board of Directors of CTS Corporation Elects Donald K. Schwanz President and Chief Operating Officer.Business Editors ELKHART, Ind.--(BUSINESS WIRE)--Jan. 18, 2001 The Board of Directors of CTS (1) (Clear To Send) The RS-232 signal sent from the receiving station to the transmitting station that indicates it is ready to accept data. Contrast with RTS. (2) (Common Type System) The data typing used in . Corporation has elected Donald K. Schwanz, 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. of CTS according to an announcement today by Joseph P. Walker, chairman of the board and chief executive officer of CTS. Walker continues as chairman of the board, and chief executive officer of the Company. In announcing the new executive position Walker stated, "We are extremely pleased to have an individual with Don's experience, accomplishments and ability to join our senior management team. He has had an outstanding record of accomplishments at Honeywell, Inc. and Sperry Univac, Inc. As we continue CTS' growth in the new millennium, we must staff our Company with individuals who have proven leadership abilities and share a common vision of value creation benefiting shareholders, employees and all other constituents. Don is a person of that caliber." Schwanz is a 1966 graduate of Massachusetts Institute of Technology Massachusetts Institute of Technology, at Cambridge; coeducational; chartered 1861, opened 1865 in Boston, moved 1916. It has long been recognized as an outstanding technological institute and its Sloan School of Management has notable programs in business, where he received his BS degree in Mechanical Engineering. He was awarded an MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration in General Management from Harvard Business School Harvard Business School, officially named the Harvard Business School: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University. in 1968. Schwanz was most recently president of the industrial control business of Honeywell, Inc. where he had financial and operating responsibility for three business units with global operations that generated $2.8 billion in revenue and had management responsibility for 16,500 employees. He began his business career with Sperry Univac, Inc., where he held positions in program management, project engineering, sales and sales support. Schwanz joined Honeywell in 1979 where he steadily advanced in positions of increasing responsibility and authority. Schwanz has held the positions of division vice president marketing; division vice president/general manager; aerospace business president, until being named president of the industrial control business. Mr. and Mrs. Schwanz will relocate from the Scottsdale, AZ area to the Elkhart/South Bend area. CTS Corporation is a leading manufacturer of electronic components and assemblies for the communications, computer and automotive markets. The Company employs over 9,200 people at 19 facilities in North America, Europe and Asia. The Company's stock is traded on the NYSE NYSE See: New York Stock Exchange under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors "CTS." To find out more, visit the Company's website at www.ctscorp.com. Released by: James L. Cummins |
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