JERSEY CITY, NJ -- (Marketwired) -- 03/04/16 --
Bel Fuse Inc. (NASDAQ: BELFA) (NASDAQ: BELFB) ("Bel" or "the Company") today announced two upcoming changes to its Board of Directors. Bel announced that Howard B. Bernstein intends to resign from the Board effective as of the 2016 Annual Meeting of Shareholders, which is scheduled for May 17, 2016. Bel also announced that John S. Johnson does not intend to stand for re-election at the upcoming Annual Meeting of Shareholders.
Howard Bernstein has been a director of the Company since 1954. It is anticipated that when Mr. Bernstein steps off the Board, he will be named Chairman Emeritus. Mr. Johnson, whose current term as a director will end at the time of the upcoming Annual Meeting, has served on the Board of Directors since 1996.
Daniel Bernstein, Bel's President and Chief Executive Officer, commented: "It is nearly impossible to express in words the gratitude that we feel towards Howard Bernstein and John Johnson. Howard Bernstein, a staunch supporter of our Company since its beginning in 1949, and my uncle, was a consistent source of innovative and inspirational input throughout his long years of service with our Company. Having come from a substantially larger company, AVX Corporation, John Johnson was an exceptional contributor to the finance team as an independent director. We expect Bel to continue to benefit from Howard's and John's insights even after they step down from the board."
About Bel
Bel (www.belfuse.com) designs, manufactures and markets a broad array of products that power, protect and connect electronic circuits. These products are primarily used in the networking, telecommunications, computing, military, aerospace, transportation and broadcasting industries. Bel's product groups include Magnetic Solutions (integrated connector modules, power transformers, power inductors and discrete components), Power Solutions and Protection (front-end, board-mount and industrial power products, module products and circuit protection), and Connectivity Solutions (expanded beam fiber optic, copper-based, RF and RJ connectors and cable assemblies). The Company operates facilities around the world.
Investor Contact:
Darrow Associates:
Peter Seltzberg
Managing Director
516.419.9915
Email Contact
Company Contact:
Daniel Bernstein
President
Email Contact
Source: Bel Fuse Inc.
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