Allied Motion Technologies Inc. (NASDAQ: AMOT) announced that on November 3, 2010, the Board of Directors appointed Gerald J. “Bud” Laber to serve as a member of the Company’s board of directors. The appointment, which temporarily increases the size of the board, fills the vacancy that will arise at the beginning of next year when Gradyon D. Hubbard retires as a Director. Mr. Laber has been a private investor since 2000, when he retired after 33 years of service with Arthur Andersen. Mr. Laber holds a degree from the University of South Dakota and is a certified public accountant. He is currently on the board of directors and chair of the audit committees of Smart Balance Inc., Scott’s Liquid Gold and Qualmark Corporation and he is president of the Catholic Foundation of Northern Colorado. He has significant experience and expertise with regard to accounting and financial matters and satisfies the SEC requirements of an audit committee financial expert. Mr. Laber has been appointed to the audit committee and will serve as audit committee chairman for the Company upon Mr. Hubbard’s retirement.
“We are very pleased to have Bud Laber join our board as he brings to the Company a wealth of management and financial experience,” commented Dick Warzala, CEO of Allied Motion. “His many years of business experience will contribute significantly to the success of Allied Motion. Additionally, the Board of Directors would like to thank Mr. Hubbard for his many years of service and dedication to the Company.”
Headquartered in Denver, Colorado, Allied Motion designs, manufactures and sells motion control products into applications that serve many industry sectors. Allied Motion is a leading supplier of precision and specialty motion control components and systems to a broad spectrum of customers throughout the world.