STRATTEC SECURITY CORPORATION Names New President and Chief Operating Officer
* Reuters is not responsible for the content in this press release.
MILWAUKEE, Dec. 14, 2009 (GLOBE NEWSWIRE) -- STRATTEC SECURITY CORPORATION
(Nasdaq:STRT) announced today that the Company's Board of Directors, at its
regularly scheduled meeting on December 9, 2009, elected Frank J. Krejci as its
President and Chief Operating Officer effective January 1, 2010. Mr. Krejci will
report to Harold M. Stratton II, Chairman of the Board and Chief Executive
Officer, who has also acted as President since October, 2004. Mr. Krejci will
continue on the STRATTEC Board of Directors. He has been a member of the Board
for over 14 years.
Mr. Stratton commented, "Frank brings to his new role with STRATTEC a wealth of
experience and expertise, including strategic planning, merger and acquisition
activity, venture capital investments, and a significant role as a Vice
President of Briggs & Stratton Technologies, our predecessor company. He has
been President of The Custom Shoppe, a privately held custom furniture
manufacturer in Watertown, Wisconsin for the past 13 years.
"As a result of his participation on the STRATTEC Board and the role he played
at Briggs & Stratton Technologies, Frank has a solid understanding of our
Company, the industry we serve, our customers and challenges. With that
understanding and his high level of expertise, he will be a great enhancement to
our management team."
STRATTEC designs, develops, manufactures and markets automotive Security
Products, including mechanical locks and keys, electronically enhanced locks and
keys, steering column and instrument panel ignition lock housings; and Access
Control Products including latches, power sliding side door systems, power lift
gate systems, power deck lid systems, door handles and related products. These
products are provided to customers in North America, and on a global basis
through the VAST Alliance in which STRATTEC participates with WITTE Automotive
of Velbert, Germany and ADAC Automotive of Grand Rapids, Michigan. STRATTEC's
history in the automotive business spans over 100 years.
The STRATTEC SECURITY CORPORATION logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=4700
Certain statements contained in this release contain "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements may be identified by the use of forward-looking words
or phrases such as "anticipate," "believe," "could," "expect," "intend," "may,"
"planned," "potential," "should," "will," and "would." Such forward-looking
statements in this release are inherently subject to many uncertainties in the
Company's operations and business environment. These uncertainties include
general economic conditions, in particular, relating to the automotive industry,
consumer demand for the Company's and its customers' products, competitive and
technological developments, customer purchasing actions, foreign currency
fluctuations, and costs of operations. Shareholders, potential investors and
other readers are urged to consider these factors carefully in evaluating the
forward-looking statements and are cautioned not to place undue reliance on such
forward-looking statements. The forward-looking statements made herein are only
made as of the date of this press release and the Company undertakes no
obligation to publicly update such forward-looking statements to reflect
subsequent events or circumstances occurring after the date of this release. In
addition, such uncertainties and other operational matters are discussed further
in the Company's quarterly and annual filings with the Securities and Exchange
Commission.
-0-
CONTACT: STRATTEC SECURITY CORPORATION
Pat Hansen, Senior Vice President and Chief Financial Officer
414-247-3435
www.strattec.com
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.



Follow Reuters