Farouq Tuweiq Assumes CEO Role

Rhea-AI Summary

Bel Fuse Inc. (BELFA) announces a significant leadership transition as Daniel Bernstein steps down as President and CEO to become Chairman of the Board, with Farouq Tuweiq, the company's CFO, assuming the CEO position. During Bernstein's 22-year tenure as CEO since 2001, Bel Fuse experienced remarkable growth, increasing revenue from under $100 million to over $600 million and completing 19 strategic acquisitions. Tuweiq, who has served as CFO for the past four years, has been instrumental in strengthening the company's financial foundation and refining its strategic focus. His background in investment banking, finance, and strategic leadership is expected to drive Bel's next growth phase.

Positive

• Company demonstrated strong growth under Bernstein's leadership, growing from $100M to $600M in revenue
• Successful completion of 19 strategic acquisitions during previous CEO's tenure
• New CEO brings strong financial and strategic background as former CFO
• Smooth leadership transition with former CEO remaining as Chairman

Negative

• Potential execution risk with new leadership change
• Loss of long-term CEO with 45 years of company experience

Daniel Bernstein Transitions to Chairman of the Board

WEST ORANGE, N.J., May 27, 2025 (GLOBE NEWSWIRE) --

A New Chapter for Bel Fuse Inc.

Today marks an exciting milestone in Bel Fuse’s journey.

After more than two decades leading the company as President and Chief Executive Officer — and over 45 years of service — Dan Bernstein will be stepping into a new role as Chairman of the Board following today’s Annual Meeting of Shareholders. 

Dan’s tenure as CEO began in 2001, and during that time, he led Bel through a period of significant transformation. Under his guidance, Bel grew from under $100 million in revenue to more than $600 million, expanded the global footprint, and completed 19 strategic acquisitions. His impact goes beyond numbers; his vision, drive, and belief in people have built a company that has a passion for progress, openness to new ideas, and a drive to get things done.

With this transition Farouq Tuweiq steps into the role of CEO. Over the past four years, within his role as CFO, Farouq has been a strategic partner to Dan in bringing a fresh perspective and data-driven leadership style to Bel. He played a key role in strengthening Bel’s financial foundation, refining strategic focus, and positioning the business for long-term success. With much of the groundwork and “self help” portion of our journey complete, Bel enters its next chapter of growth. Farouq’s track record to-date coupled with his background in investment banking, finance and strategic leadership will bode well for Bel in executing on our growth strategy and other future goals.

“I could not be more excited for the future of Bel under the leadership of Farouq and his Executive Team. Farouq has been a proven leader within Bel, inspiring motivation for continuous improvement across the organization and I have full confidence in the abilities of the new Team as they lead Bel into the next chapter,” said Dan Bernstein.

About Bel
Bel (www.belfuse.com) designs, manufactures and markets a broad array of products that power, protect and connect electronic circuits. These products are primarily used in the defense, commercial aerospace, networking, telecommunications, computing, general industrial, high-speed data transmission, transportation and eMobility industries. Bel's portfolio of products also finds application in the automotive, medical, broadcasting and consumer electronics markets. Bel's product groups include Power Solutions and Protection (front-end, board-mount, industrial and transportation power products, module products and circuit protection), Connectivity Solutions (expanded beam fiber optic, copper-based, RF and RJ connectors and cable assemblies), and Magnetic Solutions (integrated connector modules, power transformers, power inductors and discrete components). The Company operates facilities around the world.

Company Contact:
Lynn Hutkin   
Chief Financial Officer  
ir@belf.com 

Investor Contact:
Three Part Advisors
Jean Marie Young, Managing Director or Steven Hooser, Partner
631-418-4339
jyoung@threepa.com; shooser@threepa.com 

FAQ

Who is the new CEO of Bel Fuse (BELFA)?

Farouq Tuweiq, who previously served as CFO for four years, has been appointed as the new CEO of Bel Fuse.

Why is Daniel Bernstein stepping down as CEO of BELFA?

After more than 22 years as CEO and 45 years of service, Bernstein is transitioning to the role of Chairman of the Board as part of a planned leadership succession.

What was Bel Fuse's revenue growth under Daniel Bernstein's leadership?

Under Bernstein's leadership since 2001, Bel Fuse grew from under $100 million in revenue to more than $600 million.

How many acquisitions did Bel Fuse complete under Daniel Bernstein?

Bel Fuse completed 19 strategic acquisitions during Bernstein's tenure as CEO.

What was Farouq Tuweiq's role before becoming CEO of BELFA?

Farouq Tuweiq served as CFO of Bel Fuse for four years, where he helped strengthen the company's financial foundation and refine its strategic focus.