CTS Corporation Announcement
Business EditorsELKHART, Ind.--Feb. 1, 2001--CTS Corporation today announced that Patrick J. Dennis, senior vice president finance and chief financial officer, has resigned to pursue personal interests.
George T. Newhart, CTS vice president of investor relations, has agreed to act as interim chief financial officer until a replacement is found. Newhart was formerly controller of CTS and has been with the company for 12 years. Joseph P. Walker, CTS chairman of the board and chief executive officer, said, "We have a very talented and experienced financial and accounting organization and, while losing a person of Pat's caliber is disruptive, we believe our financial function is adequately staffed until the position is filled."
CTS has retained an international search firm to fill the chief financial officer position.
CTS Corporation is a leading manufacturer of electronic components and assemblies for the communications, computer and automotive markets. The Company employs over 9,000 people at 19 facilities in North America, Europe and Asia. The Company's stock is traded on the NYSE under the ticker symbol "CTS." To find out more, visit the Company's website at www.ctscorp.com.
Released by: CTS Corporation 905 West Boulevard North Elkhart, IN 46514 Telephone (219) 293-7511, Fax (219) 293-6146