TechPrecision Corporation Announces Resignation of Director
TechPrecision (NASDAQ:TPCS) announced that John A. Moore has resigned from the company's board of directors, effective January 13, 2025. Moore's departure is attributed to his desire to focus on other responsibilities. The Board has decided to maintain the vacancy created by Moore's resignation for now.
Following this change, the company has reorganized its committee structure. The Audit Committee is now led by Walter M. Schenker as Chair, with Andrew A. Levy and General Victor E. Renuart Jr. as members. The Compensation Committee has been restructured with Andrew A. Levy as Chair and Robert D. Straus as a member.
TechPrecision (NASDAQ:TPCS) ha annunciato che John A. Moore si è dimesso dal consiglio di amministrazione dell'azienda, con effetto dal 13 gennaio 2025. Le dimissioni di Moore sono attribuite al suo desiderio di concentrarsi su altre responsabilità. Il Consiglio ha deciso di mantenere per ora il posto vacante creato dalla dimissione di Moore.
A seguito di questo cambiamento, l'azienda ha riorganizzato la sua struttura dei comitati. Il Comitato di Revisione è ora guidato da Walter M. Schenker come Presidente, con Andrew A. Levy e il Generale Victor E. Renuart Jr. come membri. Il Comitato per la Compensazione è stato ristrutturato con Andrew A. Levy come Presidente e Robert D. Straus come membro.
TechPrecision (NASDAQ:TPCS) anunció que John A. Moore ha renunciado a la junta directiva de la compañía, con efecto a partir del 13 de enero de 2025. La salida de Moore se atribuye a su deseo de centrarse en otras responsabilidades. La Junta ha decidido mantener vacante por ahora el puesto creado por la renuncia de Moore.
Tras este cambio, la empresa ha reorganizado su estructura de comités. El Comité de Auditoría ahora está dirigido por Walter M. Schenker como Presidente, con Andrew A. Levy y el General Victor E. Renuart Jr. como miembros. El Comité de Compensación ha sido reestructurado con Andrew A. Levy como Presidente y Robert D. Straus como miembro.
TechPrecision (NASDAQ:TPCS)는 John A. Moore가 회사 이사직에서 사임했으며, 이는 2025년 1월 13일부터 효력이 발효된다고 발표했습니다. Moore의 사임은 다른 책임에 집중하고자 하는 그의 바람 때문입니다. 이사회는 현재 Moore의 사임으로 생긴 공석을 유지하기로 결정했습니다.
이 변화에 따라 회사는 위원회 구조를 재편성했습니다. 감사 위원회는 Walter M. Schenker가 의장을 맡고, Andrew A. Levy와 General Victor E. Renuart Jr.가 위원으로 활동합니다. 보상 위원회는 Andrew A. Levy가 의장을 맡고 Robert D. Straus가 위원으로 재편성되었습니다.
TechPrecision (NASDAQ:TPCS) a annoncé que John A. Moore a démissionné de son poste au conseil d'administration de la société, avec effet au 13 janvier 2025. Le départ de Moore est attribué à son souhait de se concentrer sur d'autres responsabilités. Le Conseil a décidé de maintenir vacante pour le moment la place créée par la démission de Moore.
Suite à ce changement, l'entreprise a réorganisé sa structure de comités. Le Comité d'Audit est désormais présidé par Walter M. Schenker, avec Andrew A. Levy et le Général Victor E. Renuart Jr. comme membres. Le Comité de Rémunération a été restructuré avec Andrew A. Levy en tant que Président et Robert D. Straus en tant que membre.
TechPrecision (NASDAQ:TPCS) gab bekannt, dass John A. Moore mit Wirkung zum 13. Januar 2025 von dem Vorstand des Unternehmens zurückgetreten ist. Moores Rücktritt wird mit seinem Wunsch begründet, sich auf andere Verantwortlichkeiten zu konzentrieren. Der Vorstand hat beschlossen, die durch Moores Rücktritt entstandene Vakanz vorerst aufrechtzuerhalten.
Nach dieser Änderung hat das Unternehmen seine Ausschussstruktur reorganisiert. Der Prüfungsausschuss wird nun von Walter M. Schenker als Vorsitzendem geleitet, Andrew A. Levy und General Victor E. Renuart Jr. sind Mitglieder. Der Vergütungsausschuss wurde umstrukturiert, mit Andrew A. Levy als Vorsitzendem und Robert D. Straus als Mitglied.
- None.
- None.
WESTMINSTER, MA / ACCESS Newswire / January 17, 2025 / TechPrecision Corporation (NASDAQ:TPCS) ("TechPrecision" or "the Company"), today announced that John A. Moore resigned as a member of the board of directors (the "Board") of the Company, effective on January 13, 2025 to focus on his other responsibilities. The Board has decided not to fill the vacancy created by Mr. Moore's resignation at this time. As a result of Mr. Moore's resignation, the composition of the committees of the Board has changed as follows:
Audit Committee: Walter M. Schenker (Chair), Andrew A. Levy and General Victor E. Renuart Jr.
Compensation Committee: Andrew A. Levy (Chair) and Robert D. Straus
About TechPrecision Corporation
TechPrecision Corporation, through its wholly owned subsidiaries, Ranor, Inc. and Stadco. The manufacturing operations of our Ranor subsidiary are situated on approximately 65 acres in North Central Massachusetts. Leveraging our 145,000 square foot facilities, Ranor provides a full range of custom solutions to transform material into precision finished welded components and precision finished machined components up to 100 tons: manufacturing engineering, materials management and traceability, high-precision heavy fabrication (in-house fabrication operations include cutting, press and roll forming, welding, heat treating, assembly, blasting and painting), heavy high-precision machining (in-house machining operations include CNC programming, finishing, and assembly), QC inspection including portable CMM, NonDestructive Testing, and final packaging.
All manufacturing at Ranor is performed in accordance with customer requirements. Ranor is an ISO 9001:2015 certificate holder. Ranor is a US defense-centric company with over
The manufacturing operations of our Stadco subsidiary are situated in an industrial self-contained multi-building complex comprised of approximately 183,000 square feet under roof in Los Angeles, California. Stadco manufactures large mission-critical components on several high-profile military aircraft, military helicopter, and military space programs. Stadco has been a critical supplier to a blue-chip customer base that includes some of the largest OEMs and prime contractors in the defense and aerospace industries. Stadco also manufactures tooling, molds, fixtures, jigs and dies used in the production of defense-centric aircraft components.
Our Stadco subsidiary, similar to Ranor, provides a full range of custom solutions: manufacturing engineering, materials management and traceability, high-precision fabrication (in-house fabrication operations include waterjet cutting, press forming, welding, and assembly) and high-precision machining (in-house machining operations include CNC programming, finishing, and assembly), QC inspection including both fixed and portable CMM NonDestructive Testing, and final packaging. In addition, Stadco features a large electron beam welding cell, and two NonDestructive Testing work cells, a unique mission-critical technology set.
All manufacturing at Stadco is performed in accordance with customer requirements. Stadco is an AS 9100 D and ISO 9001:2015 certificate holder and a NADCAP NonDestructive Testing certificate holder. Stadco is a US defense-centric company with over
To learn more about the Company, please visit the corporate website at http://www.techprecision.com. Information on the Company's website or any other website does not constitute a part of this press release.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. All statements other than statements of current or historical fact contained in this press release, including statements that express our intentions, plans, objectives, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "prospects," "will," "should," "would" and similar expressions, as they relate to us, are intended to identify forward-looking statements. These statements are based on current expectations, estimates and projections made by management about our business, our industry and other conditions affecting our financial condition, results of operations or business prospects. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in, or implied by, the forward-looking statements due to numerous risks and uncertainties. Factors that could cause such outcomes and results to differ include, but are not limited to, risks and uncertainties arising from: our reliance on individual purchase orders, rather than long-term contracts, to generate revenue; our ability to balance the composition of our revenues and effectively control operating expenses; external factors that may be outside our control, including health emergencies, like epidemics or pandemics, the conflicts in Eastern Europe and the Middle East, price inflation, interest rate increases and supply chain inefficiencies; the availability of appropriate financing facilities impacting our operations, financial condition and/or liquidity; our ability to receive contract awards through competitive bidding processes; our ability to maintain standards to enable us to manufacture products to exacting specifications; our ability to enter new markets for our services; our reliance on a small number of customers for a significant percentage of our business; competitive pressures in the markets we serve; changes in the availability or cost of raw materials and energy for our production facilities; restrictions in our ability to operate our business due to our outstanding indebtedness; government regulations and requirements; pricing and business development difficulties; changes in government spending on national defense; our ability to make acquisitions and successfully integrate those acquisitions with our business; our failure to maintain effective internal controls over financial reporting; our ability to regain compliance with the continued listing requirements of Nasdaq; general industry and market conditions and growth rates; and other risks discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). Any forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that may arise after the date of this press release, except as required by applicable law. Investors should evaluate any statements made by us in light of these important factors.
Company Contact:
Richard D. Roomberg
Chief Financial Officer
TechPrecision Corporation
Phone: 978-883-5108
Email: roombergr@ranor.com
Website: www.techprecision.com
Investor Relations Contact:
Hayden IR
Brett Maas
Phone: 646-536-7331
Email: brett@haydenir.com
Website: www.haydenir.com
SOURCE: TechPrecision Corporation
View the original press release on ACCESS Newswire
FAQ
When did John A. Moore resign from TechPrecision 's board (TPCS)?
Who are the current members of TechPrecision's (TPCS) Audit Committee after the January 2025 reorganization?
Who leads TechPrecision's (TPCS) Compensation Committee as of January 2025?
Will TechPrecision (TPCS) fill the board vacancy left by John A. Moore's resignation?
