Board of Directors of CTS Corporation Elects Donald K. Schwanz President and Chief Operating Officer
18 January 2001
Board of Directors of CTS Corporation Elects Donald K. Schwanz President and Chief Operating Officer
Business EditorsELKHART, Ind.--Jan. 18, 2001--The Board of Directors of CTS Corporation has elected Donald K. Schwanz, president and chief operating officer of CTS according to an announcement today by Joseph P. Walker, chairman of the board and chief executive officer of CTS. Walker continues as chairman of the board, and chief executive officer of the Company. In announcing the new executive position Walker stated, "We are extremely pleased to have an individual with Don's experience, accomplishments and ability to join our senior management team. He has had an outstanding record of accomplishments at Honeywell, Inc. and Sperry Univac, Inc. As we continue CTS' growth in the new millennium, we must staff our Company with individuals who have proven leadership abilities and share a common vision of value creation benefiting shareholders, employees and all other constituents. Don is a person of that caliber."
Schwanz is a 1966 graduate of Massachusetts Institute of Technology where he received his BS degree in Mechanical Engineering. He was awarded an MBA in General Management from Harvard Business School in 1968.
Schwanz was most recently president of the industrial control business of Honeywell, Inc. where he had financial and operating responsibility for three business units with global operations that generated $2.8 billion in revenue and had management responsibility for 16,500 employees.
He began his business career with Sperry Univac, Inc., where he held positions in program management, project engineering, sales and sales support. Schwanz joined Honeywell in 1979 where he steadily advanced in positions of increasing responsibility and authority. Schwanz has held the positions of division vice president marketing; division vice president/general manager; aerospace business president, until being named president of the industrial control business.
Mr. and Mrs. Schwanz will relocate from the Scottsdale, AZ area to the Elkhart/South Bend area.
CTS Corporation is a leading manufacturer of electronic components and assemblies for the communications, computer and automotive markets. The Company employs over 9,200 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: James L. Cummins