On Jan 22, Eastern Co's Peter O'hara Notified The Company Of His Resignation As Vice President And CFO; Announced That Nicholas Vlahos Has Been Appointed As Vice President And CFO, Effective As Of Close Of Business On Feb 3
Benzinga Newsdesk 3 years ago
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The Eastern Company (the "Company" or "Eastern") (NASDAQ:EML), an industrial manufacturer of unique engineered solutions serving commercial transportation, logistics, and other industrial markets,
The Eastern Company (the "Company" or "Eastern") (NASDAQ:EML), an industrial manufacturer of unique engineered solutions serving commercial transportation, logistics, and other industrial markets, today announced that its Board of Directors has named Nicholas ("Nick") Vlahos as its Chief Financial Officer to succeed Peter O'Hara, who has resigned effective February 3, 2023 to pursue other opportunities.
Mark Hernandez, Eastern's President and Chief Executive Officer, said, "During his time at Eastern, Nick has demonstrated strong leadership capabilities, business judgment, and results orientation. Nick has been integral to Eastern's growth, both organically and inorganically, and is uniquely qualified to take on this important role. He brings extensive experience in capital deployment, financial operations, and financial reporting with a broad and deep understanding of our business strategy, structure, and culture."
Mr. O'Hara commented, "I am pleased to hand over the CFO reins to Nick, an excellent financial leader and highly trusted colleague. I am confident that Nick will help Mark and the team execute on Eastern's plans to expand margins, drive cash flow and grow shareholder returns."
Mr. Vlahos said, "I am privileged to be named CFO. I look forward to driving Eastern forward through our next stage of growth with a focus on systems, processes and people to accelerate margin expansion and shareholder value appreciation."
Mr. Vlahos, 41, joined Eastern in 2017 as Treasurer, and since 2022 has served as Vice President of Finance, Treasurer and Secretary of the Company. Mr. Vlahos earlier served as Director of Finance, Accounting and Human Resources at Fischer Technology, Inc. He earned an MBA and a BA from Central Connecticut State University.
Mr. Vlahos' appointment is effective as of the close of business February 3, 2023.