Appoints James Williams as Principal Accounting Officer
ORLANDO, Fla. -- (Business Wire)
The LGL Group, Inc. (NYSE MKT:LGL) today announced that R. LaDuane
Clifton has been promoted to Chief Financial Officer effective December
17, 2012. Mr. Clifton, previously served as the Company’s Chief
Accounting Officer since March 2010, and as LGL’s Corporate Controller
from August 2009 to March 2010.
The Company’s President and Chief Executive Officer, Greg Anderson,
said, “I am delighted to announce that LaDuane Clifton has been promoted
to CFO. During his tenure, he has been an instrumental part of
realigning our operations, significantly improving our balance sheet,
bringing improved investor transparency and strengthening our finance
function.” LGL’s Chairman of the Board, Marc Gabelli, said, “LaDuane’s
contributions have directly led to improvements in the Company’s
operating leverage, and combined with his personal effectiveness and
energy, support the focus of the Board of Directors and Management on
growing shareholder value by expanding the potential for organic growth
and by positioning for strategic investments that extend the franchise
and capitalize on the LGL platform.”
The Company also announced the appointment of James L. Williams to serve
as LGL’s Corporate Controller and Principal Accounting Officer effective
January 2, 2013. Mr. Williams, is both a CPA and CIA, and brings
senior-level finance experience gained from both large and small
companies, including ABM Industries, one of the largest publicly-held
facility management services in the U.S., Southeastern U.S. Insurance,
and Georgia-Pacific Corporation, a world-leading producer of
forest-based products. Mr. Gabelli said, “Today’s regulatory environment
has increased the complexity of operations accounting, financial
reporting and tax compliance for public companies. Jim brings a wealth
of experience that supports these requirements while also expanding the
Company’s data analysis capabilities in support of the Company’s
strategic growth efforts.”
About The LGL Group, Inc.
The LGL Group, Inc., through its wholly-owned subsidiary MtronPTI,
manufactures and markets highly-engineered electronic components used to
control the frequency or timing of signals in electronic circuits. These
devices are used extensively in electronic systems for military
applications, avionics, earth-orbiting satellites, medical devices,
instrumentation, industrial devices and global positioning systems. They
are also used in infrastructure equipment for the telecommunications and
network equipment industries. The Company has operations in Orlando,
Florida, Yankton, South Dakota and Noida, India, and sales offices in
Hong Kong and Shanghai, China.
For more information on the Company and its products and services,
contact LaDuane Clifton at The LGL Group, Inc., 2525 Shader Rd.,
Orlando, Florida 32804, (407) 298-2000, or visit www.lglgroup.com.
The LGL Group, Inc.
R. LaDuane Clifton, 407-298-2000
Source: The LGL Group, Inc.
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