SED International Holdings, Inc. (NYSE MKT: SED), today announced that Messrs. J.D. Abouchar and Steve Metayer were appointed to the company’s Board of Directors, on June 12, 2013, increasing the Board’s size to seven (7) members.
“We are very pleased to have J.D. and Steve join our board,” said Samuel A. Kidston, SED’s Executive Chairman. “Both bring strong business expertise and energy to our board of directors and we all look forward to working with them. The process of adding new directors was undertaken in an effort to continuously improve the performance of SED, its board and management team.”
“As part of the process of identifying and adding new directors, the Nominating Committee of the board interviewed several potential director candidates, including two candidates proposed by Paragon Technologies (OTC: PGNT). Unfortunately, less than twenty-four hours after these interviews took place, Paragon informed our board that these two candidates were withdrawing their names from consideration to be seated on the SED Board. We remain open to working with Paragon and its representatives in an open and constructive manner and remain open to providing representation on the board in exchange for a reasonable stand-still agreement.”
J.D. Abouchar for the last seven years has been an independent consultant to GRT Capital Partners, LLC and most recently was the portfolio manager for the GRT Technology strategy. Mr. Abouchar has been involved with investment management and research since 1996 and was a member of the Chicago Board of Options Exchange from 1985 to 1990. From 2007 to 2009, Mr. Abouchar was also an Independent Director and Chairman of the Audit Committee of InFocus Corporation, formerly a NASDAQ listed company and a manufacturer and distributor of digital projectors and LCD flat panel displays, based in Portland, Oregon. Mr. Abouchar earned a B.S. degree in Economics from Wharton School, University of Pennsylvania.