Park Electrochemical Corp. (NYSE: PKE) announced the appointment of James R. Krone as Vice President of Aerospace Engineering of the Company. In this new position, Mr. Krone will be responsible for the Company’s global aerospace engineering activities. Mr. Krone will report to Steve Pittari, Vice President-Aerospace of the Company, and will be based at the Company’s Park Aerospace Technologies Corp. aerospace advanced composite materials, parts and assemblies manufacturing and design business unit located in Newton, Kansas. Prior to joining Park, Mr. Krone held several positions with Cessna Aircraft Company in Wichita, Kansas. He had been Director, Structural Integrity of Cessna since 2008, Senior Manager, Material and Process Engineering from 2005 to 2008, Manager, Non-Metallic Materials Group, Material and Process Engineering from 2000 to 2005 and Engineering Specialist, Non-Metallic Materials Group, Material and Process Engineering from 1995 to 2000. From 1992 to 1995, he was a Program Manager with Quadrax Corporation, Advanced Materials Systems, Inc., a supplier of advanced polymer based composite raw materials and finished parts to the aerospace, defense and recreational markets, in Providence, Rhode Island; and from 1980 to 1992 he held several positions with Phillips Petroleum Company, a global petrochemical company, in Bartlesville, Oklahoma. Mr. Krone is currently a member of the Board of Directors of the Center for Innovation and Enterprise Engagement, Wichita State University, an Advisory Board Member of the National Institute for Aviation Research, Wichita State University, and Vice Chairman of the Wichita Chapter of The Society for the Advancement of Materials and Process Engineering. Mr. Krone received a Bachelor of Science degree in Mechanical Engineering from Kansas State University. Brian Shore, Park’s President and CEO, said, “I have known Jim Krone for a number of years and have very high regard for him. I am very pleased that Jim has chosen to join Park.”
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.