Raytech (NYSE:RAY)
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From Jun 2019 to Jun 2024
Raytech Corporation (NYSE: RAY) ("Raytech") today
announced that the Board of Directors of Raytech Corporation
("Raytech") has elected Larry W. Singleton, who has been serving as
interim CEO since June 2004, as President and Chief Executive Officer
effective September 1, 2005. Mr. Singleton was also elected to the
Board of Directors, filling a vacancy on the Board, effective
September 1, 2005.
Mr. Singleton was a principal in AlixPartners LLC, a firm who
provided operational and financial consulting services to Raytech,
since 2004. Before becoming a principal in AlixPartners in February,
2004, Mr. Singleton was a Director of Safety-Kleen Corp. from August
2002 to December 2003, Executive Vice President and Chief Financial
Officer of Safety-Kleen Corp. from November 2001 to December 2003, and
Senior Vice President and Chief Financial Officer of that company from
August 2000 to November 2001. Before joining Safety-Kleen Corp. Mr.
Singleton was Executive Vice President of Gulf States Steel, Inc. from
February 1999 to July 2000. From January 2000 through January 2001,
Mr. Singleton served as an investment committee member to
Revitalizacni Agentura, a.s., a subsidiary of the Czech Republic's
national bank, formed to assist the Czech government in restructuring
numerous industrial companies in anticipation of entering the European
Union. Mr. Singleton has been a Director of The Thaxton Group, Inc., a
sub-prime lender, since January, 2004.
Raytech also announced that on August 23, 2005, the Board of
Directors of Raytech elected Richard P. McCook, Executive Vice
President, Chief Financial Officer and Treasurer of Raytech, effective
September 1, 2005. Mr. McCook, who is 52 and a Certified Public
Accountant, was Senior Vice President and Chief Financial Officer from
1999 to 2004, and Financial Vice President and Chief Financial Officer
of Winn-Dixie Stores from 1984 to 1999, of Winn-Dixie Stores, Inc.,
Jacksonville, Florida, a $12 billion grocery store chain company
listed on the New York Stock Exchange that owned a substantial number
of manufacturing facilities to supply a portion of the companies
products. Mr. McCook's responsibilities and experience in those
positions included corporate financial management and analysis,
strategic planning, treasury and cash management, manufacturing
process analysis, mergers and acquisitions and certain administrative
functions.
John B. Devlin, Vice President, Treasurer and Chief Financial
Officer, has resigned effective August 31, 2005, due to the relocation
of Raytech's corporate offices.
Raytech Corporation is a worldwide manufacturer of wet and dry
clutch, power transmission and brake systems as well as specialty
engineered polymer matrix composite products and related services for
vehicular applications, including automotive OEM, heavy duty
on-and-off highway vehicles and aftermarket vehicular power
transmission systems. Through two technology and research centers and
five manufacturing operations worldwide, Raytech develops and delivers
energy absorption, power transmission and custom-engineered components
focusing on niche applications where its expertise and technological
excellence provide a competitive edge.
Raytech Corporation, headquartered in Shelton, Connecticut,
operates manufacturing facilities in the United States, Germany and
China as well as technology and research centers in Indiana and
Germany. The Company's operations are strategically situated in close
proximity to major customers and within easy reach of geographical
areas with demonstrated growth potential.
Raytech common stock is listed on the New York Stock Exchange and
trades under the symbol "RAY." Company information may be accessed on
our Internet website http://www.raytech.com.