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Stock impact report

Servotronics' Board Appoints Two New Independent Directors, Names Non-Executive Chairman and Accelerates Expiration of its Shareholder Rights Plan

Servotronics, Inc. (SVT) 
NASDAQ:AMEX Investor Relations: servotronics.com/investor-relations
Company Research Source: PR Newswire
ELMA, N.Y., April 27, 2022 /PRNewswire/ -- The Board of Servotronics, Inc. (NYSE American – SVT) announced the appointment of two new independent directors and a non-executive Chairman, as well as the  accelerated expiration of the company's shareholder rights plan.Evan Wax, Managing Member of one of Servotronics' largest shareholders, Wax Asset Management LLC, and retired public company finance and business executive Karen L. Howard have joined the Board as independent directors. In addition, sitting independent director Christopher M. Marks was appointed Chairman of the Board.Today's announcements follow Servotronics' previously disclosed appointment of William F. Farrell, Jr. to serve as Chief Executive Officer and a director of the company. All of these appointments are effective as of April 25, and the Board intends to nominate each of them for election at Servotronics' next annual meeting of shareholders as part of a six-person slate that is expected to include incumbents Edward Show less Read more
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