SL Industries Taps Industry Vet Fejes As CEO

   DOW JONES NEWSWIRES 
 

SL Industries Inc. (SLI) hired William Fejes Jr. as president and chief executive, succeeding James Taylor, who left in mid-June along with the company's chief financial officer.

The maker of power electronics and communications gear has seen a sharp increase in performance in recent quarters benefiting from a restructuring that involved headcount reduction, frozen salaries and decreased retirement benefits. Electrical manufacturers have benefited of late from a nascent global recovery.

Fejes most recently served as chief operating officer of Seakeeper Inc., a maker of motion stabilization equipment for boats. Earlier, he was president and chief executive of TB Wood's Corp. (TBWC) and served in management roles at Danaher Corp. (DHR). He's on the board at Broadwind Energy Inc. (BWEN).

Taylor left in mid-June, as did Chief Financial Officer David Nuzzo. No reason was given at the time, and Chairman Glen Kassan stepped into both roles on an interim basis. He is still performing CFO duties.

SL's shares closed Thursday at $12.01 and were inactive premarket. The stock is up 72% the past year.

-By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240; [e-mail]