Paragon Technologies, Inc. Announces Retirement of President/CEO and Organizational Changes
20 Fevereiro 2007 - 12:30PM
PR Newswire (US)
EASTON, Pa., Feb. 20 /PRNewswire-FirstCall/ -- Paragon
Technologies, Inc. (AMEX:PTG), a leading supplier of "smart"
material handling systems and "software-driven" warehouse and
distribution center solutions, announced today that Joel L. Hoffner
is retiring as President and CEO, effective March 1, 2007, in order
to pursue technical and operational consultative opportunities that
provide greater personal flexibility. Mr. Hoffner will provide
consulting services to Paragon Technologies with a focus on
accelerating technology developments. Joel Hoffner commented, "I
strongly believe that I can be more instrumental in the continued
growth of Paragon Technologies in roles that exploit my software,
marketing, and technical strengths more effectively." Ted Myers,
Chairman of the Board, noted, "Joel has led significant changes to
the Company's vision and market focus with particular emphasis on
enhancing both the systems integration and control software
businesses. The impact of those changes is just beginning to be
evident in new orders and a significant pipeline of new
opportunities. We expect that the foundation that has been laid
throughout the past year will result in new growth potential for
Paragon Technologies." Concurrently, the Board announced that
Leonard S. Yurkovic will assume the role of Acting CEO of Paragon
Technologies as the Company moves to execute a holding company
strategy. Yurkovic, former CEO and current Board member, will focus
on finance, shareholder relations, and the pursuit of various
opportunities to increase shareholder value. In addition, William
J. Casey has been named President and Chief Operating Officer of SI
Systems, the Company's materials handling business. SI Systems will
operate as a division of Paragon. Casey is a seasoned veteran of SI
Systems who recently led the turnaround of the Company's Production
& Assembly brand. Casey will be responsible for both the
Production & Assembly and Order Fulfillment branded
technologies and report to Yurkovic. The Committee on Strategic
Alternatives of the Board is identifying possible long-term
candidates to fulfill the holding company CEO vacancy at an
appropriate time as well as continuing to explore various strategic
alternatives. About Paragon Technologies Paragon Technologies is a
leader in integrating material handling systems and creating
automated solutions for material flow applications. SI Systems'
Production & Assembly and Order Fulfillment branded
technologies and material handling solutions address unit assembly
in manufacturing operations and order fulfillment applications. One
of the top material handling systems suppliers worldwide, SI
Systems leading clients have included the United States Postal
Service, BMG, Peterbilt, Honda, CVS Pharmacy, Maybelline, and
Walgreens. DATASOURCE: Paragon Technologies, Inc. CONTACT: Len
Yurkovic, Acting CEO, Paragon Technologies, Inc., +1-610-252-3205,
or +1-610-252-3102 (Fax) Web site: http://www.ptgamex.com/
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