SCI Engineered Materials, Inc. (OTCMKTS:SCIA) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
SCI Engineered Materials, Inc. (“SCI”) (SCIA: OTCQB), a global supplier and manufacturer of advanced materials for physical vapor deposition thin film applications which works closely with end users and OEMs to develop innovative, customized solutions, today announced its Board of Directors has elected Jeremy Young as President of SCI Engineered Materials, Inc., effective January 2, 2019.
Mr. Young will succeed Daniel Rooney, 64, who announced his retirement plans in May 2018. Mr. Rooney will be working closely with Mr. Young throughout the transition period which is expected to continue through approximately mid-year 2019. Upon Mr. Rooney’s retirement, Mr. Young will also become the Company’s Chief Executive Officer.
Jeremy Young, 40, has served as Vice President-Operations of SCI since June 2016 and during this period he also led implementation of the Company’s sales and marketing strategy. From December 2013 to June 2016, he was Operations Manager for the Company after serving as SCI’s Production Manager from March 2006 to December 2013. During 2004 and 2005, Mr. Young held Quality and Production management positions with Accel, Inc. He originally joined SCI as Process Chemist in August 2002 and continued in that position until September 2004. Mr. Young worked at Worthington Industries from August 1998 to August 2002. He earned a Bachelor of Science in Chemistry from Otterbein University and an MBA from Ohio University.
During the past six months a committee of the Board of Directors conducted a search for Mr. Rooney’s successor. Upon approval of the committee’s recommendation, the Board of Directors stated, “We are pleased to announce Jeremy Young’s election as President of SCI following a thorough review of internal and external candidates. He has contributed to SCI achieving its growth strategy including operational management, market strategy and product management, and helping the Company realizeunprecedented financial growth. We look forward to a smooth management transition during the next several months and also want to thank Dan Rooney for his successful leadership of SCI over the past 16 years.”
About SCI Engineered Materials, Inc. (OTCMKTS:SCIA)
SCI Engineered Materials, Inc. (SCI), formerly Superconductive Components, Inc., is a supplier and manufacturer of advanced materials for physical vapor deposition (PVD) thin film applications. The Company focuses on specific markets within the PVD industry, such as photonics, thin film solar, glass, thin film battery and transparent electronics. PVD coatings range from everyday items to computer processors. Every day applications include transparent anti-scratch coatings on eyeglasses, coatings on kitchen faucets, as well as low emissivity glass for household windows. The Company manufactures ceramic, metal, and alloy products for the photonic, photovoltaic, thin film battery, media storage, flat panel display, and semiconductor industries. The Company also develops products for the thin film solar (TFS) market. It produces ceramic powders through various processing techniques, including solid state and precipitation. It produces metal sputtering targets and backing plates.