SERVOTRONICS, INC. On March 30, 2023, Star Equity Fund, LP issued a press release announcing that it would be proceeding with the nomination of 2 candidates, Richard K Coleman and Mark Pomeroy, for election to Servotronics, Inc.’s board of directors at the Company’s 2023 annual meeting of shareholders. Star Equity Fund reiterated its belief that the incumbent Board lacks the necessary experience and expertise to change the trajectory at Company. Star Equity Fund highlighted the Board's lack of aerospace or engineering experience, despite the Company's involvement in the aerospace business.
Star Equity Fund noted its belief that current Board members Edward Cosgrove and Christopher Marks did not possess the skillset or resolve to induce needed change at the Company.
