Farouq Tuweiq Assumes CEO Role
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.
Bel Fuse Inc. (BELFA) annuncia un importante cambio di leadership: Daniel Bernstein lascia il ruolo di Presidente e CEO per assumere la carica di Presidente del Consiglio di Amministrazione, mentre Farouq Tuweiq, CFO dell'azienda, assume la posizione di CEO. Durante i 22 anni di Bernstein come CEO dal 2001, Bel Fuse ha registrato una crescita straordinaria, con ricavi passati da meno di 100 milioni di dollari a oltre 600 milioni, completando 19 acquisizioni strategiche. Tuweiq, che negli ultimi quattro anni ha ricoperto il ruolo di CFO, ha giocato un ruolo chiave nel rafforzare la struttura finanziaria dell'azienda e nel perfezionare il suo focus strategico. La sua esperienza in investment banking, finanza e leadership strategica è destinata a guidare la prossima fase di crescita di Bel.
Bel Fuse Inc. (BELFA) anuncia una importante transición en su liderazgo: Daniel Bernstein deja el cargo de Presidente y CEO para convertirse en Presidente del Consejo, mientras que Farouq Tuweiq, el CFO de la compañía, asume la posición de CEO. Durante los 22 años de Bernstein como CEO desde 2001, Bel Fuse experimentó un crecimiento notable, aumentando sus ingresos de menos de 100 millones a más de 600 millones de dólares y completando 19 adquisiciones estratégicas. Tuweiq, quien ha sido CFO durante los últimos cuatro años, ha sido fundamental para fortalecer la base financiera de la empresa y afinar su enfoque estratégico. Su experiencia en banca de inversión, finanzas y liderazgo estratégico se espera que impulse la próxima fase de crecimiento de Bel.
Bel Fuse Inc. (BELFA)는 중대한 리더십 변화를 발표했습니다. Daniel Bernstein이 사장 겸 CEO 자리에서 물러나 이사회 의장으로 취임하며, 회사의 CFO인 Farouq Tuweiq가 CEO 직책을 맡게 되었습니다. Bernstein은 2001년부터 22년간 CEO로 재직하며 Bel Fuse를 매출 1억 달러 미만에서 6억 달러 이상으로 크게 성장시키고 19건의 전략적 인수를 완료했습니다. 지난 4년간 CFO로 활동해온 Tuweiq는 회사의 재무 기반을 강화하고 전략적 방향을 다듬는 데 중요한 역할을 해왔습니다. 투자은행, 재무 및 전략적 리더십 배경을 바탕으로 Bel의 다음 성장 단계를 이끌 것으로 기대됩니다.
Bel Fuse Inc. (BELFA) annonce un changement majeur dans sa direction : Daniel Bernstein quitte ses fonctions de Président et CEO pour devenir Président du Conseil d'administration, tandis que Farouq Tuweiq, le CFO de l'entreprise, prend la tête en tant que CEO. Durant les 22 années de Bernstein à la tête de l'entreprise depuis 2001, Bel Fuse a connu une croissance remarquable, faisant passer son chiffre d'affaires de moins de 100 millions à plus de 600 millions de dollars et réalisant 19 acquisitions stratégiques. Tuweiq, CFO depuis quatre ans, a joué un rôle clé dans le renforcement des bases financières de l'entreprise et l'affinement de sa stratégie. Son expérience en banque d'investissement, finance et leadership stratégique devrait stimuler la prochaine phase de croissance de Bel.
Bel Fuse Inc. (BELFA) kündigt einen bedeutenden Führungswechsel an: Daniel Bernstein tritt als Präsident und CEO zurück und wird Vorsitzender des Vorstands, während Farouq Tuweiq, der CFO des Unternehmens, die Position des CEO übernimmt. Während Bernsteins 22-jähriger Amtszeit als CEO seit 2001 verzeichnete Bel Fuse ein bemerkenswertes Wachstum, steigerte den Umsatz von unter 100 Millionen auf über 600 Millionen und schloss 19 strategische Übernahmen ab. Tuweiq, der seit vier Jahren CFO ist, spielte eine entscheidende Rolle bei der Stärkung der finanziellen Basis des Unternehmens und der Verfeinerung der strategischen Ausrichtung. Seine Erfahrung im Investmentbanking, Finanzwesen und in der strategischen Führung wird voraussichtlich die nächste Wachstumsphase von Bel vorantreiben.
- 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
- Potential execution risk with new leadership change
- Loss of long-term CEO with 45 years of company experience
Insights
Bel Fuse's leadership transition signals continuity with strategic growth ambitions as a proven internal candidate takes the helm after a successful transformation period.
This leadership transition at Bel Fuse represents a significant milestone after Daniel Bernstein's 24-year CEO tenure and 45+ years of service. Under Bernstein's leadership, the company achieved remarkable growth, expanding revenue from
The appointment of Farouq Tuweiq, who has served as CFO for the past four years, suggests a carefully orchestrated succession plan rather than a disruptive change. This indicates the board's confidence in the company's strategic direction and desire for continuity while bringing fresh perspective. Tuweiq's background combines internal knowledge of Bel's operations with external experience in investment banking and finance—a blend that positions him well to execute the company's next growth phase.
Particularly noteworthy is the timing of this transition. The press release mentions that the "self help" portion of the company's journey is complete, suggesting that internal restructuring and optimization efforts have concluded successfully. This creates a foundation for the next growth chapter under new leadership. Tuweiq's described "data-driven leadership style" signals potential for more analytical decision-making processes going forward.
The cooperative language and Bernstein's endorsement indicate a harmonious transition, minimizing execution risk that often accompanies leadership changes. With Bernstein remaining as Chairman, the company retains his institutional knowledge while gaining Tuweiq's fresh perspective—a balanced approach that typically serves shareholders well during leadership transitions.
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
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)?
Why is Daniel Bernstein stepping down as CEO of BELFA?
What was Bel Fuse's revenue growth under Daniel Bernstein's leadership?
How many acquisitions did Bel Fuse complete under Daniel Bernstein?
What was Farouq Tuweiq's role before becoming CEO of BELFA?
