Robert L. Bauman, President and CEO, stated, "We welcome Mr. Crawford and Mr. Rosen to the Board of Directors and believe their vast expertise and track record of success has the potential to be of significant benefit to us. We have been in business in Cleveland for 102 years and I believe we are entering a new era of our business with the addition of these Directors. The recent economic downturn caused us to make changes to our business model that is beginning to produce results and I believe these new Directors will enhance and speed up that process."
"I look forward to utilizing my operational and financial experience to help Hickok with its growth strategy. Cleveland, Ohio is a cradle of successful, well established small businesses that often find it difficult to create liquidity at the proper time in their life cycle. The large number of these local small businesses may indeed provide a great opportunity for Hickok to develop strategic relationships. Hickok, founded in 1910, is a wonderful Cleveland company looking to grow both organically and through acquisition," stated Mr. Crawford.
"Both Ed and myself are looking forward to the creation of stakeholder value as new board members of Hickok," said Mr. Rosen.
Edward Crawford is currently Director, Chairman and Chief Executive Officer of the Park-Ohio Holdings since 1992 and President from 1997 to 2003. Steven Rosen is the Co-Founder and Co-CEO of Resilience Capital based in Cleveland, Ohio. [March 12, 2012]
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