Standex International Corporation(NYSE:SXI) today announced that its Board of Directors has appointed Thomas J. Hansen as a new member of the Board, effective March 20, 2013. Mr. Hansen’s appointment will increase the number of directors from eight to nine. Mr. Hansen will stand for election by the shareholders to a full three-year term as a director at the Company’s next Annual Meeting of Shareholders, which will occur following the end of the Company’s current fiscal year. Until his retirement in March 2012, Hansen was the vice chairman of Illinois Tool Works Inc. (ITW), where he had been responsible for the company’s Worldwide Automotive Components and Fasteners business, its Construction Products and Fluids & Polymers businesses, as well as its Industrial Metal and Plastics businesses. “The automotive and industrial manufacturing insight that Tom has gained during his long and distinguished career at ITW will be of immense value to Standex as the Company executes on its focused diversity strategy in the years ahead,” said Edward Trainor, Chairman of the Board. “Tom’s qualifications – particularly his experience with highly engineered product manufacturing – made him an ideal candidate to serve as an independent director, and we welcome him to the Standex board.” “Tom’s broad end-market knowledge is particularly well-aligned with our current business portfolio and with the sectors that Standex is targeting for new opportunities for long-term growth,” said Standex President and Chief Executive Officer Roger Fix. “In addition, we expect Standex to benefit from Tom’s extensive experience in closing and integrating strategic acquisitions. We are delighted that he has agreed to join us, and we look forward to the perspective he will bring to the board in the years ahead.” 1 Hansen joined ITW in 1980 as sales and marketing manager of the Shakeproof Industrial Products business, which manufactures fasteners for general industrial markets, and was named general manager of the business in 1983. He was promoted to vice president and general manager of ITW’s North American Industrial Metal Fastener and Buckle Divisions in 1986. He was named president of ITW’s North American Industrial and Automotive fastener businesses in 1990 and appointed president of its Worldwide Metal Fastener and Components businesses in 1993. Prior to his election as vice chairman in 2006, Hansen served as executive vice president with responsibility for ITW’s Worldwide Metal and Plastic Fastener and Components businesses, Fluids & Polymers and Construction businesses, as well as its Industrial Metals and Plastic segment.
Standex International Corporation (NYSE:SXI) hit a new 52-week high Thursday as it is currently trading at $39.18, above its previous 52-week high of $39.11 with 35,744 shares traded as of 12:10 p.m. ET. Average volume has been 66,600 shares over the past 30 days.