Sevcon
SEV today announced that it has increased the size of its Board of
Directors to 12 directors, and has elected Glenn J. Angiolillo, Ryan J. Morris
and Walter M. Schenker to the Board, effective immediately. Messrs.
Angiolillo, Morris and Schenker were proposed as directors by GAMCO Asset
Management, Inc., representing several Gabelli investment funds that are
stockholders of Sevcon, and were approved by the Board's Nominating and
Corporate Governance Committee.
Mr. Angiolillo is president of a wealth management consulting and advisory
firm and also serves as a director of NY Magic, Inc., LICT Corporation, Ryman
Hospitality Properties, Inc., and Trans-Lux Corporation. A lawyer, he has
significant experience with commercial and corporate law, corporate governance
and investment matters. Mr. Morris, an Operational & Information engineer and
a Chartered Financial Analyst, is the managing partner of an investment
partnership and the Chief Executive Officer of VideoNote LLC, an educational
software company. He is Executive Chairman of the Board of InfuSystems
Holdings, Inc. and was also Chairman of the Board of Lucas Energy, Inc. until
November 2013. Mr. Schenker has been a principal of several firms in the
brokerage, investment banking and investment management businesses. He has
significant experience with many aspects of public company investing including
accounting, financial reporting, capital allocation, strategic transactions
and investor relations.
Sevcon Chairman of the Board William Ketelhut said, "We welcome the experience
and perspectives these new directors bring to Sevcon and look forward to their
contributions to maximizing value for our shareholders."
About Sevcon, Inc.
Sevcon is a world leader in the design and manufacture of microprocessor based
controls for zero emission electric and hybrid vehicles. The controls are used
to vary the speed and movement of vehicles, to integrate specialized functions
and to optimize the energy consumption of the vehicle's power source. The
Company supplies customers throughout the world from its operations in the
USA, the U.K., France and the Asia Pacific region and through an international
dealer network. Sevcon's customers are manufacturers of on and off-road
vehicles including cars, trucks, buses, motorcycles, fork lift trucks, aerial
lifts, mining vehicles, airport tractors, sweepers and other electrically
powered vehicles. For more information visit www.sevcon.com.
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