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Black Box Corporation Announces CEO Succession Plan – Michael McAndrew, Executive Vice President And Chief Financial Officer, To Become CEO

Stocks in this article: BBOX

Black Box Corporation (NASDAQ:BBOX) announced today that its Board of Directors has appointed Michael McAndrew as President and Chief Executive Officer, effective April 1, 2013. Mr. McAndrew, age 52, is currently the Company’s Executive Vice President, Chief Financial Officer, Secretary and Treasurer.

In order to ensure a smooth transition, R. Terry Blakemore, President and Chief Executive Officer, will continue in those positions until March 31, 2013. Mr. Blakemore will retire from the Company effective May 31, 2013 and is expected to remain a member of the Board of Directors until the 2013 Annual Meeting of Stockholders.

Mr. Thomas G. Greig, Chairman of the Board of Directors, noted, “As part of the Board’s succession planning process, the Board, with the assistance of a nationally-recognized consultant, conducted an extensive evaluation and determined that Mike McAndrew was the right person to lead Black Box in the future. Mike brings the best of both worlds – an intimate knowledge of our Company gained from his 22 years of experience as a Team Member, and a clear and exciting vision for our Company’s future. The Board, as a whole, and I, in particular, look forward to working closely with Terry and Mike through this transition. Mike’s passion for the business will be invaluable as we build upon the strong foundation already in place and take Black Box to new levels of success.”

Mr. McAndrew said, “I am honored to have been named the next President and Chief Executive Officer of Black Box. The communications integration market is complex and the pace of technological change in communications is rapid. I am committed to work closely with our Board of Directors, management and talented global team as we support our clients’ current communications systems and assist them as they convert future business requirements into effective and efficient solutions. I am confident that together we can build upon our successes and deliver innovation to our clients while generating returns for our shareholders.”

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