Del Global Technologies Appoints James R. Henderson Chairman of the Board, Succeeding Suzanne M. Hopgood.VALHALLA, N.Y. -- Del Global Technologies Corp. (DGTC) ("Del Global" or "the Company") today announced that James R. Henderson has been appointed Chairman of the Board of Directors. Mr. Henderson succeeds Suzanne M. Hopgood, who voluntarily resigned as the Company's Chairman and as a Director on May 12, 2005 in order to pursue other business interests. Mr. Henderson, 47, has been a member of the Company's Board of Directors since November 20, 2003. Mr. Henderson has also served as 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 WebFinancial Corporation (NasdaqSC: WEFN) since November 2003 and as Vice President of Operations of WebFinancial since September 2000. He has also served as a director of the WebBank subsidiary of WebFinancial since March 2002 and as Chairman since November 2004, and a director and Chief Operating Officer of the WebFinancial Holding Corporation subsidiary of WebFinancial since January 2000. Additionally, Mr. Henderson has served as a Vice President of Steel Partners, Ltd. since March 2002, as President of Gateway Industries, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : GWAY.PK) since December 2001 and as a director of SL Industries, Inc. (AMEX AMEX See: American Stock Exchange : SLI (Scalable Link Interface) A multi-GPU interface from NVIDIA for connecting two or four NVIDIA display adapters together for faster graphics rendering on one monitor or two monitors. ) since January 2002. Mr. Henderson commented, "Ms. Hopgood has previously indicated that she would not stand for reelection re·e·lect also re-e·lect tr.v. re·e·lect·ed, re·e·lect·ing, re·e·lects To elect again. re as a director and this change allows for an orderly transition of the Chairman's position. The Board thanks Ms. Hopgood for her leadership, including her work to enhance shareholder value and help move the Company forward. The Board's recent accomplishments, all of which had been previously announced, have included: the conclusion of the investigation by the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities and Exchange Commission; the completion of the United States Department of Defense's investigation of the Company; corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. reforms, including the elimination of the Company's poison pill A defensive strategy based on issuing special stock that is used to deter aggressors in corporate takeover attempts. The poison pill is a defensive strategy used against corporate takeovers. and the changes to the Company's bylaws The rules and regulations enacted by an association or a corporation to provide a framework for its operation and management. Bylaws may specify the qualifications, rights, and liabilities of membership, and the powers, duties, and grounds for the dissolution of an allowing shareholders to call a meeting; the return of the Company to profitability; and the sale of the High Voltage division. Additionally, during Ms. Hopgood's tenure as Chairman of the Board, the Board of Directors of the Company aligned compensation and performance incentives, put a new management team in place, stabilized the Company's financial structure and implemented strong corporate initiatives." Del Global Technologies Corp. is primarily engaged in the design, manufacture and marketing of cost-effective medical imaging and diagnostic systems consisting of stationary and portable x-ray systems, radiographic/fluoroscopic systems, dental imaging systems and proprietary high-voltage power conversion subsystems for medical and other critical industrial applications. Through its RFI (Radio Frequency Interference) High-frequency electromagnetic waves that emanate from electronic devices such as chips. RFI - Radio Frequency Interference subsidiary, Del Global manufactures electronic filters, high voltage capacitors, pulse modulators, transformers and reactors, and a variety of other products designed for industrial, medical, military and other commercial applications. Statements about future results made in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements are based on current expectations and the current economic environment. Del Global cautions that these statements are not guarantees of future performance. These statements involve a number of risks and uncertainties that are difficult to predict, including, but not limited to: the ability of Del Global to implement its business plan; retention of management; changing industry and competitive conditions; obtaining anticipated operating efficiencies; securing necessary capital facilities; favorable determinations in various legal matters; market and operating risks from foreign currency exchange exposures; and favorable general economic conditions. Actual results could differ materially from those expressed or implied in the forward-looking statements. Important assumptions and other important factors that could cause actual results to differ materially from those in the forward-looking statements are specified in the Company's filings with the Securities and Exchange Commission. |
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