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home / news releases / SVT - Servotronics' CEO resigns following internal investigation

SVT - Servotronics' CEO resigns following internal investigation

Servotronics Inc.
Servotronics (NYSE:SVT) announces that Kenneth D. Trbovich has resigned as CEO and President and was removed as Chairman of the Board after a six-month-long internal investigation identified grounds for his termination. While the Board of Directors searches for a permanent replacement, the responsibilities of the CEO and President will continue to be carried out by other personnel, led by Chief Operating Officer James C. Takacs. Today's announcement follows a previously disclosed internal investigation, authorized by the Board on June 8 when Mr. Trbovich was placed on administrative leave, one day after a then-employee filed a civil complaint making allegations regarding the executive's conduct.

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Servotronics' CEO resigns following internal investigation
Stock Information
Company Name: Servotronics Inc.
Stock Symbol: SVT
Market: NYSE
Website: servotronics.com
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