Tecumseh Products Company Names David Goldberg To Board Of Directors
ANN ARBOR, Mich., March 2 /PRNewswire-FirstCall/ -- Tecumseh Products Company (Nasdaq: TECUA, TECUB), a leading global manufacturer of compressors and related products, announced today that air-conditioning and refrigeration industry veteran David Goldberg has been appointed to the company's board of directors, effective immediately. The Board also nominated Goldberg, along with incumbent directors Kent Herrick, Zachary Savas, Steven Lebowski and Terence Seikel, for election at the 2010 annual meeting of shareholders, which is scheduled for April 28.
"At both the board and executive levels, we have been working to strengthen Tecumseh with leaders who have hands-on management and manufacturing experience, knowledge of our industry and a clear customer focus to help further our goals of improving our financial results and the value we offer in the market," said Kent Herrick, chairman of Tecumseh. "David brings important perspective and strategic insights about the refrigeration industry to our board, which we believe will help us in our drive to return Tecumseh to positive cash flow and profitability."
Goldberg, 66, who has managed companies in both the United States and Europe, is past chairman of the Air-Conditioning and Refrigeration Institute (ARI), a trade association representing manufacturers of air conditioning and refrigeration equipment, which is now part of the Air-Conditioning, Heating and Refrigeration Institute (AHRI).
Since 2003, he has been president of David Goldberg Consulting, which advises clients in the heating, ventilation, air conditioning and refrigeration and other industries on strategic planning, mergers and acquisitions, product development and marketing. From 2001 to 2002 he served as CEO of American DG Energy, Inc., a start-up company specializing in on-site electrical energy producing equipment for the commercial and light industrial markets.
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