Blonder Tongue Announces Departure of CEO Reappoints Robert J Palle to Chief Executive Officer and President

Rhea-AI Summary

Blonder Tongue Laboratories (OTCQB:BDRL) has announced the resignation of Chief Executive Officer Ted Grauch, effective March 18, 2023. Grauch has served in his role since January 2020 and cites personal goals as the reason for his departure. The Board has reappointed Robert J. Palle, who previously held leadership positions at the company, to replace Grauch. Palle, who is optimistic about future initiatives in manufacturing and technology, emphasized the importance of a smooth transition. Blonder Tongue is a leading provider in telecommunications and cable television technology, with over 50 years of operational history in New Jersey.

Positive

• Robert J. Palle's reappointment brings back experienced leadership.
• Palle plans to implement new initiatives to enhance manufacturing capabilities.

Negative

• Ted Grauch's departure may raise concerns about continuity in leadership.

OLD BRIDGE, NJ / ACCESSWIRE / January 23, 2023 / Blonder Tongue Laboratories, Inc. (OTCQB:BDRL) (the "Company") announced that Edward R. "Ted" Grauch has resigned as Chief Executive Officer and President effective March 18, 2023. Mr. Grauch has held these roles since January 1, 2020, and will remain in these roles until March 18, 2023. The Company's Board of Directors has reappointed Robert J "Bob" Palle to serve as Chief Executive Officer and President of the Company, concurrent with Ted's departure.

Bob has been a Director of Blonder Tongue Laboratories since September 1993. He served as our President from May 2003 until May 2019, our Chief Executive Officer from May 2015 until December 31, 2019 and our Managing Director-Strategic Accounts during 2020, ending his prior service as an employee of the Company on December 31, 2020. Prior to that, Mr. Palle served as our Chief Operating Officer and Secretary since April 1989, our Executive Vice President from April 1989 until May 2003 and as our Interim Treasurer from March through April 2001.

Commenting on his departure, Mr. Grauch said: "I have deeply appreciated the opportunity that the Directors and employees of Blonder Tongue Labs have given me to lead the Company over the last three years, and feel incredibly proud of the progress the Company has made in product development, operating efficiency, and strategic position in the markets we serve during that period. Now that the significant challenges we faced during the pandemic and a majority of semiconductor and raw material supply chain issues are in the process of becoming resolved, I believe it is time for me to focus on the needs of my family and other personal goals. The Company has a great team in place to lead us forward and we will all be working closely with Bob for a smooth and seamless transition over the next two months."

Commenting on Mr. Grauch's departure and Mr. Palle's reappointment, Steve Shea, Chairman of the Board, said "We appreciate Ted's hard work over the last 3+ years. We wish him much success in his future endeavors. We are fortunate to have Bob returning to lead the Company through the next phase of the Company's evolution."

Commenting on his reappointment, Mr. Palle commented "I am honored to be reappointed to the Company's leadership position. I look forward to implementing several new initiatives, including enhancements to our manufacturing capabilities, and exploiting patented technologies unique to the Company in video, data and voice signal processing. While we continue to face challenges, my confidence regarding the future for the Company is buoyed by the support of our loyal customers and our team of dedicated Blonder Tongue Associates."

About Blonder Tongue

Blonder Tongue Laboratories, Inc. is the oldest designer and manufacturer of telecommunications and cable television video transmission technology in the USA. The majority of our products continue to be designed and built in our state-of-the-art New Jersey facility, which has been the Company's home for more than 50 years. Blonder Tongue Labs offers U.S.-based engineering and manufacturing excellence with an industry reputation for delivering ultra-high reliability products. As a leader in cable television system design, the Company provides service operators and systems integrators with comprehensive solutions for the management and distribution of digital video, IPTV and high-speed data services, as well as RF broadband distribution over fiber, IP, and Coax networks for homes and businesses. Additional information on the Company and its products can be found at www.blondertongue.com

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The information set forth above includes "forward-looking" statements and accordingly, the cautionary statements contained in Blonder Tongue's Annual Report and Form 10-K for the year ended December 31, 2021 (See Item 1: Business, Item 1A: Risk Factors, Item 3: Legal Proceedings and Item 7: Management's Discussion and Analysis of Financial Condition and Results of Operations), and other filings with the Securities and Exchange Commission are incorporated herein by reference. All statements, other than those of historical fact, which address activities, events, outcomes, results, developments, performance or achievements that Blonder Tongue anticipates or expects may or will occur in the future should be considered "forward-looking" statements, including statements that use the words "believe", "expect", "anticipate", "project", "target", "intend", "plan", "seek", "estimate", "endeavor", "should", "could", "may" and similar expressions. In addition, any statements that refer to projections for our future financial performance, our anticipated growth trends in our business and other characterizations of future events or circumstances are forward-looking statements, including statements regarding our ability to continue as a going concern. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. Blonder Tongue undertakes no obligation to publicly revise or update these forward-looking statements to reflect events or circumstances that arise after the date hereof. Blonder Tongue's actual results may differ from the anticipated results or other expectations expressed in Blonder Tongue's "forward-looking" statements.

Contacts

Eric Skolnik
Chief Financial Officer
eskolnik@blondertongue.com
(732) 679-4000

Ted Grauch
President & Chief Executive Officer
tgrauch@blondertongue.com
(732) 679-4000

SOURCE: Blonder Tongue Laboratories, Inc.

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FAQ

What led to Ted Grauch's resignation from Blonder Tongue Laboratories?

Ted Grauch resigned to focus on personal goals and family, after leading the company for over three years.

Who will replace Ted Grauch as CEO of Blonder Tongue Laboratories?

Robert J. Palle has been reappointed as CEO and President of Blonder Tongue Laboratories.

What experience does Robert J. Palle bring to his role as CEO?

Palle has extensive experience, having served in various leadership positions at Blonder Tongue since 1989.

How is Blonder Tongue Laboratories planning to address future challenges?

Palle has indicated plans to enhance manufacturing capabilities and exploit patented technologies.

What is the significance of leadership changes at Blonder Tongue Laboratories for investors?

Leadership changes can impact strategic direction and operational continuity, which are important for investor confidence.