SCHMITT INDUSTRIES, INC. (NASDAQ:SMIT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(b) On December12, 2016, Mr.WayneA. Case informed the Board of
Directors of Schmitt Industries, Inc. (the Registrant) of his
intention to resign as its Chairman, effective December31, 2016.
In connection with his retirement from the Registrant, a company
he founded 30 years ago, Mr.Case will also be resigning from the
other management positions he holds with the Company.
A copy of the press release announcing Mr.Cases retirement is
furnished as Exhibit 99.1 hereto.
| Item9.01 | Financial Statements and Exhibits. |
(d) Exhibits
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Exhibit |
Description |
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| 99.1 |
Press release entitled Schmitt Industries, Inc. Announces Retirement of the Chairman of the Board of Directors. |
About SCHMITT INDUSTRIES, INC. (NASDAQ:SMIT)
Schmitt Industries, Inc. designs, manufactures and sells test and measurement products for two main business segments: the Balancer segment and the Measurement segment. The Company operates through two segments: the design and assembly of dynamic balancing systems and components for the machine tool industry (Balancer), and the design and assembly of laser-based test and measurement systems (Measurement). For the Balancer segment, it designs, manufactures and sells computer-controlled vibration detection, balancing and process control systems for the machine tool industry. Under the Measurement segment, the Company through its subsidiary, Schmitt Measurement Systems, Inc., designs, manufactures and sells laser and white light sensors, laser-based micro roughness measurement products, laser-based surface analysis and measurement products, and ultrasonic measurement products. The Company provides sales and service for Europe and Asia through its subsidiary, Schmitt Europe Limited. SCHMITT INDUSTRIES, INC. (NASDAQ:SMIT) Recent Trading Information
SCHMITT INDUSTRIES, INC. (NASDAQ:SMIT) closed its last trading session down -0.02 at 1.69 with 8,762 shares trading hands.