WALLA WALLA, Wash., April 15, 2013 (GLOBE NEWSWIRE) -- Key Technology, Inc. (Nasdaq:KTEC) announced today the appointment of Jeffrey T. Siegal as Vice President and Chief Financial Officer. Effective April 15, 2013, Siegal will have responsibility for providing guidance and analysis for all financial aspects of the Company's business.
Jack Ehren, President and Chief Executive Officer of the Company, stated, "Jeff brings to Key twenty-five years of significant financial expertise with high technology, international and manufacturing businesses, and has a thorough understanding of public accounting, treasury management, and SEC reporting as well as acquisitions and strategic alliances. Jeff's valuable experiences and knowledge are a strong fit for Key, and will provide real benefit as we continue to transform our Company for the future and implement our long-term strategy."
For the past five years, Siegal has served as the Chief Financial Officer and Treasurer for Schmitt Industries, Inc. where he has overseen all accounting and finance functions, including strategic planning, budgeting and forecasting processes. Prior to this, Siegal served as the Corporate Controller and Treasurer of Planar Systems, Inc. where he directed all finance, treasury and accounting activities for this multinational, public manufacturing company. Siegal also brings with him more than ten years of public accounting experience, most of which was spent with Deloitte & Touche LLP, where Siegal served as a Senior Manager.Commenting on his new appointment, Siegal said, "I am enthusiastic about the opportunity to join Key's strategically-focused and innovative global team. The Company is well-respected in its markets and is generating strong interest in the investment community. I am excited about the contribution I can make to developing strategies that will enable the Company to achieve profitable growth and increased shareholder value." Siegal holds a BA degree in Business Administration and Accounting from San Jose State University. He is also a Certified Public Accountant.