NEWARK, NY – IEC Electronics’ shareholders have elected all seven Vintage Opportunity Fund-nominated directors to the contract electronics manufacturer’s board of directors.
They are Keith M. Butler, Charles P. Hadeed, Lynn J. Hartrick, Andrew M. Laurence, Jeremy R. Nowak, Jeffrey T. Schlarbaum and Eric Singer. The group represents a slate put forth by Vintage Opportunity Fund, IEC's largest shareholder and a vocal critic of its management.
Additionally, the shareholders ratified the appointment of Crowe Horwath as the company's independent registered public accounting firm for the fiscal year ending Sept. 30, and approved a nonbinding, advisory proposal on the compensation of the named executive officers.
The slate was elected despite the attempts by IEC's chairman to retain control over the EMS company. W. Barry Gilbert, IEC's chairman since 2001 and a director since 1993, had issued multiple press releases leading up to the company's annual meeting in an attempt to head off the Vintage slate.