By Ben Glickman
TechPrecision said two nominees from Wynnefield Group, the company's largest individual shareholder, were elected to its board and named chair and vice chair.
The Westminster, Mass., company, which makes metal components for the defense and industrial sectors, said Thursday that three new directors--John Moore, General Victor Renuart Jr. and Robert Straus--had been elected at the company's annual meeting.
Straus and Renuart were both nominees of Wynnefield, a small-cap focused hedge fund which has been agitating for change at the company. Renuart was elected chair of the board, while Straus was elected vice chair.
Wynnefield holds about 4.5% of TechPrecision's shares, according to FactSet.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
December 26, 2024 17:37 ET (22:37 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.