The Board of Servotronics, Inc. announced that Evan Wax and Karen L. Howard have joined the Board as independent directors. In addition, sitting independent director Christopher M. Marks was appointed Chairman of the Board. Mr. Wax was appointed to the Servotronics Board in April 2022.

He is Managing Member of Wax Asset Management LLC in Madison, CT, which has held Servotronics common stock since October 2014. Ms. Howard was appointed to the Servotronics Board in April 2022. She has more than 30 years of professional experience as an advisor to and finance executive with public companies, as well as a proven record of board leadership.

She retired in 2020 after serving for seven years as Executive Vice President of Kei Advisors LLC. Mr. Marks was appointed Chairman of the Servotronics Board in April 2022 and has served as an independent director of the company since 2016. He has served as Chair of the Audit Committee and member of the Compensation Committee and Nominating and Corporate Governance Committee.

The Board does not intend to renominate the company's former Chairman and CEO Kenneth D. Trbovich for election to the Board at the next annual meeting of shareholders.