Schmitt Industries Announces Strategic Reorganization
Schmitt Industries, Inc. (SMIT)
US:NASDAQ Investor Relations:
investor.schmitt-ind.com/investor-relations
Company Research
Source: GlobeNewswire
New Structure Focuses and Commits to Core SBS Business Company to Seek Disposition of Non-Core AssetsDavid Case, CEO, Named Special Advisor to Board of DirectorsDonna Witkowski Promoted to SBS PresidentMichael Zapata Appointed Executive Chairman, President of Schmitt PORTLAND, Ore., Nov. 27, 2018 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT) today announced a strategic reorganization that will position the company to capitalize on the growing SBS Balancer business, while streamlining the company and maximizing shareholder value through the disposition of non-core assets. The new Schmitt structure organizes the core SBS Balancer business under Donna Witkowski, who is being promoted to SBS President. David Case will transition from CEO and President of Schmitt Industries to serve as Special Advisor to the Board of Directors to steward the reorganization through mid-April 2019. All product lines - SBS, Xact and Acuity - will report to Michael Zapata, the newly appointed
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