Mechanical Technology, Incorporated President/CEO Resigns
08/24/2020 - 04:30 PM
ALBANY, N.Y. , Aug. 24, 2020 /PRNewswire/ -- Mechanical Technology, Incorporated ("MTI " or the "Company"), a publicly traded company (OTC Pink: MKTY) headquartered in Albany, New York , announces that Mr. Rick Jones has notified the MTI Board that he will be resigning from his position as President and Chief Executive Officer effective September 11 , 2020.
"Since undertaking the combined role of President, CEO and CFO in January 2017 , I am incredibly proud of the accomplishments we have achieved here at MTI, including the current three-year stretch of profitability, the first ever cash dividend to our shareholders and the most recent record-setting orders activity at our MTI Instruments subsidiary," said Mr. Jones. "After nearly 28 years with the Company, it is now time for me to move on to the next opportunity in my career and I leave MTI on solid footing, with a healthy cash balance, a record orders backlog and the support of an amazing team dedicated to the continuing success of the organization. I would like to thank the MTI Board of Directors – both current and past members – for all the guidance and support over the years and I look forward to following the future growth of MTI!"
The Company will announce a new President/CEO at a later date.
Please visit https://www.mechtech.com under News & Events.
About MTI MTI is the parent company of MTI Instruments, Inc. and EcoChain, Inc. Through MTI Instruments, MTI is engaged in the design, manufacture and sale of test and measurement instruments and systems that use a comprehensive array of technologies to solve complex, real world applications in numerous industries, including manufacturing, electronics, semiconductor, solar, commercial and military aviation, automotive and data storage. Through EcoChain, MTI is developing a pilot cryptocurrency mining facility powered by renewable energy that integrates with the bitcoin blockchain network. For more information about MTI, please visit https://www.mechtech.com .
Contact Information : Lisa Brennan lbrennan@mtiinstruments.com
http://www.prnewswire.com/news-releases/mechanical-technology-incorporated-presidentceo-resigns-301117202.html
SOURCE Mechanical Technology, Incorporated
Mechanical Technology, Inc.
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MKTY Stock Data
Industry
Electromedical and Electrotherapeutic Apparatus Manufacturing
Sector
Manufacturing
Tags
Electronic Equipment/Instruments, Electronic Technology, Manufacturing, Electromedical and Electrotherapeutic Apparatus Manufacturing
About MKTY
Based in Albany, New York, MTI Instruments, Inc., a wholly-owned subsidiary of Mechanical Technology, Incorporated, is a global leader in non-contact measurement tools and condition-based monitoring systems with a growing customer base spanning more than 60 countries. MTI Instruments has a rich history in innovation for developing and manufacturing sensors and systems to help clients secure the highest level of accurate measurements in order to drive innovation, identify efficiencies and increase competitiveness. MTI Instruments provides comprehensive solutions to better address challenges and applications within numerous industries, including industrial manufacturing, consumer electronics, semiconductor, solar, commercial and military aviation, automotive, transportation and R&D.
