ZTEST Announces the Retirement of John Perreault and the Appointment of Suren Jeyanayagam as President of Permatech

Rhea-AI Summary

ZTEST Electronics Inc. has appointed Suren Jeyanayagam as the new President of its subsidiary Permatech Electronics Corp. following the retirement of John Perreault. Jeyanayagam brings 25 years of experience at Permatech, including his recent role as Vice President of Manufacturing. The transition is expected to be smooth, as Perreault has been training Jeyanayagam for this leadership position. This change aims to ensure continuity and stability in Permatech's operations in electronic manufacturing services.

Positive

• Suren Jeyanayagam's extensive experience (25 years) at Permatech is expected to ensure continuity and a seamless transition.
• The leadership change aims to strengthen business operations and maintain service quality at Permatech.

Negative

• The retirement of John Perreault may raise concerns about the loss of experienced leadership at Permatech.

NORTH YORK, ON / ACCESSWIRE / December 28, 2022 / ZTEST Electronics Inc. ("ZTEST" or the "Company") (CSE:ZTE) is pleased to announce that Suren Jeyanayagam has been appointed President of the Company's wholly-owned operating subsidiary, Permatech Electronics Corp. ("Permatech"), on the retirement of John Perreault as President. Suren has worked for Permatech for 25 years and served as Vice President Manufacturing since December 2020.

The Board of Directors wish to thank Mr. Perreault for his more than 30 years of service to Permatech and wish him the best in his retirement. The Board welcomes Mr. Jeyanayagam to the role of President of Permatech. Steve Smith, President and CEO of the Company stated "We will miss John and wish him well but Permatech is in good hands with Suren. John has been training Suren for the role of President and Suren's extensive experience with Permatech will allow for a seamless transition".

About ZTEST Electronics Inc.

ZTEST Electronics Inc., through its wholly owned subsidiary Permatech Electronics Corp. ("Permatech"), offers Electronic Manufacturing Services (EMS) to a wide range of customers. Permatech's offering includes Materials Management, Printed Circuit Board (PCB) Assembly, Testing and Design services. Permatech operates from a 20,000 square foot, ISO 9001:2015 certified facility in North York, Ontario, Canada. The company serves customers in the Medical, Power, Computer, Telecommunications, Wireless, Industrial and Consumer Electronics markets requiring high quality, quick-turnaround, small and medium size production runs.

About Conversance Inc.

Conversance, a private company based in Waterloo, Ont., founded by Mr. Chen, is focused on developing and marketing proprietary artificial-intelligence supported distributed ledger technologies. Mr. Chen is an electrical engineer with a strong background in radio frequency, digital signal processing, VLSI (very-large-scale integration), complex systems, chemistry and physics. Mr. Chen joined Research in Motion (now BlackBerry) in 1999, becoming a senior member of the office of the chief technology officer, where he was instrumental in many of Blackberry's key telephony innovations and patents. Mr. Chen's interest in blockchains began in 2009.

For more information contact:

Steve Smith, CEO
(604) 837-3751
email: stevesmith15@shaw.ca

The CSE has neither approved nor disapproved the contents of this press release. The CSE does not accept responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS:This press release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).

SOURCE: ZTEST Electronics Inc.

View source version on accesswire.com:
https://www.accesswire.com/733379/ZTEST-Announces-the-Retirement-of-John-Perreault-and-the-Appointment-of-Suren-Jeyanayagam-as-President-of-Permatech

FAQ

Who is the new President of Permatech Electronics Corp.?

Suren Jeyanayagam has been appointed as the new President of Permatech Electronics Corp.

What role did Suren Jeyanayagam hold before becoming President?

Before his appointment as President, Suren Jeyanayagam served as Vice President of Manufacturing since December 2020.

When did John Perreault retire from Permatech?

John Perreault retired as President of Permatech Electronics Corp. just prior to Suren Jeyanayagam's appointment.

How long has Suren Jeyanayagam worked at Permatech?

Suren Jeyanayagam has worked for Permatech for 25 years.

What is the significance of the leadership change at Permatech?

The leadership change is significant as it aims to maintain stability in operations and ensure that the transition is seamless.