Wednesday, August 03, 2005

Technology Research CEO Kendall Resigns - Forbes.com

Technology Research CEO Kendall Resigns - Forbes.com: "Technology Research CEO Kendall Resigns
08.02.2005, 10:25 AM

Technology Research Corp., a maker of electrical safety products, said Tuesday that Jerry T. Kendall has resigned from his positions as president, CEO and a director, effective immediately.

The company said Chairman Robert S. Wiggins has agreed to reassume the duties of CEO and president until a new chief executive has been hired.

Technology Research shares, which a year ago traded at a high of $8.55, fell 11 cents, or 2.6 percent, to a new 52-week low of $4.06 in morning trading on the Nasdaq. On Monday, the company reported a 57 percent drop in fiscal first-quarter earnings, as product mix and higher-than-expected costs hurt bottom-line results. "

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