OAK BROOK, Ill., April 12, 2013 /PRNewswire/ -- Federal Signal Corporation (NYSE: FSS), a leader in environmental and safety solutions, today announced the appointment of Brian S. Cooper to the position of senior vice president and chief financial officer, effective May 28, 2013. Mr. Cooper will replace Braden Waverley, who has served as interim chief financial officer since October 2012. Mr. Waverley will remain in his current capacity until Mr. Cooper joins the Company. (Logo: http://photos.prnewswire.com/prnh/20120420/CG91760LOGO) "Brian brings valuable strategic perspective and a strong foundation in finance, reporting and analysis gleaned from his over 20 years of business experience in public and private companies," commented Dennis Martin, Federal Signal's president and chief executive officer. "We are looking forward to adding his expertise and leadership to the Federal Signal team." Mr. Cooper has served since 2009 as chief financial officer of Westell Technologies, Inc., a NASDAQ-listed company which provides carrier-class telecommunications equipment for wire-line and wireless networks. He has provided strong financial and administrative leadership while partnering closely with the Westell management team to drive operational improvements and a strategic restructuring of the company. Prior to Westell, Mr. Cooper served as chief financial officer and treasurer of Fellowes, Inc. from 2007 to 2009. Before joining Fellowes, he served as senior vice president and treasurer since 2001 of United Stationers Inc., a NASDAQ-listed wholesaler of business products. Prior to joining United Stationers, Mr. Cooper served as treasurer of Burns International Services Corporation, and held various financial positions during his 12 year tenure with Amoco Corporation. Mr. Cooper holds a bachelor's degree in economics from Davidson College in Davidson, NC, as well as a master's degree in finance and marketing from the University of Chicago Booth School of Business. Martin continued, "As we bring Brian on board, I want to thank Braden for his leadership and significant contributions to the Federal Signal Technologies divestiture and the Company's refinancing. Braden's support was invaluable as our interim chief financial officer."
Shareholders of Federal Signal Corp. looking to boost their income beyond the stock's 0.8% annualized dividend yield can sell the August covered call at the $17.50 strike and collect the premium based on the 55 cents bid, which annualizes to an additional 6.6% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 7.4% annualized rate in the scenario where the stock is not called away.