Park Electrochemical Corp. (NYSE-PKE) announced the appointment of Joseph Milack as Controller and Cindy Arroyo as Assistant Controller. In these positions, Mr. Milack will report to P. Matthew Farabaugh, Vice President and Chief Financial Officer and former Controller of Park, and Ms. Arroyo will report to Mr. Milack. Mr. Milack joined Park Electrochemical Corp. in March 2009 as Assistant Controller. Prior to joining Park, he was a consultant with Resources Global Professionals, a publicly traded professional services company located in New York, New York, from 2007 to March 2009. Prior thereto, he was Vice President and Controller of GEA North America, Inc., an international group of engineering, manufacturing and chemical product distribution companies located in New York, New York, from 2001 to 2006; Controller of WMF of America, Inc., a manufacturer of cookware, located in Farmingdale, New York, from 1998 to 2001; Chief Financial Officer of Brinkmann Instruments, Inc., a distributor of scientific instruments located in Westbury, New York, from 1980 to 1998; Divisional Controller from 1978 to 1980 and Manager of Financial Reporting from 1975 to 1978 of Grumman Allied Industries, Inc., a manufacturer of various non-aerospace vehicles located in Garden City, New York; and a staff accountant with Pricewaterhouse Coopers in New York, New York prior thereto. Mr. Milack received a Bachelor of Science degree in accounting from St. John’s University in Queens, New York. Ms. Arroyo joined Park Electrochemical Corp. in January 2010 as Accounting Manager. Prior to joining Park, she was a Senior Auditor with BDO Seidman, located in New York, New York, from September 2006 to January 2010; and from September 2001 to September 2006 she was a manager at Juice for Life located in Bayside, New York. Ms. Arroyo received a Bachelor of Science degree in accounting from Fordham University in Bronx, New York. Park Electrochemical Corp. is a global advanced materials company which develops and manufactures high-technology digital and RF/microwave printed circuit materials principally for the telecommunications and internet infrastructure and high-end computing markets and advanced composite materials, parts and assemblies for the aerospace markets. Park’s core capabilities are in the areas of polymer chemistry formulation and coating technology. The Company’s manufacturing facilities are located in Singapore, China, France, Connecticut, Kansas, Arizona and California. The Company also maintains R&D facilities in Arizona, Kansas and Singapore.
Shareholders of Park Electrochemical Corp. looking to boost their income beyond the stock's 1.8% annualized dividend yield can sell the August covered call at the $25 strike and collect the premium based on the $1.00 bid, which annualizes to an additional 8.1% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 9.8% annualized rate in the scenario where the stock is not called away.