Sparton Corporation (NYSE:SPA) announced that its Board of Directors has
been recognized as one of the top ten local corporate boards by Crain’s
Chicago Business based primarily on director compensation and long-term
shareholder returns. To view the list please visit:
http://www.chicagobusiness.com/section/ISSUE02?date=20111008.
Cary Wood, President and CEO of Sparton Corporation commented, "It is
gratifying to have our board of directors recognized as one of the top
ten corporate boards in the Chicago area.”
"We are confident in the strength of our board, as a whole, as well as
in the individual capabilities each board member contributes. We have
adopted a board structure that supports our corporate initiatives to
ensure that we meet the expectations of our shareholders. Last year, our
shareholders overwhelmingly approved corporate governance changes
requiring that each director stand for re-election annually, beginning
with our 2011 Annual Meeting that was held last week. Furthermore, each
director is required to meet a majority-vote threshold in uncontested
elections of directors, with a plurality vote standard in contents
elections. These changes, coupled with a recent reduction of our board
size to seven, have contemporized Sparton’s corporate governance
structure, strengthening the Company’s relationship with current and
future shareholders. We extend our thanks to the members of our board of
directors for their efforts on behalf of our Company and our
congratulations on this recognition from Crain’s Chicago Business.”
About Sparton Corporation
Sparton Corporation (NYSE:SPA), now in its 111th year, is a provider of
complex and sophisticated electromechanical devices with capabilities
that include concept development, industrial design, design and
manufacturing engineering, production, distribution, and field service.
The primary markets served are in the Medical Device, Defense & Security
Systems, and Electronic Manufacturing Services industries. Headquartered
in Schaumburg, IL, Sparton currently has five manufacturing locations
worldwide. Sparton's Web site may be accessed at http://www.sparton.com.
Safe Harbor and Fair Disclosure Statement
Safe Harbor statement under the Private Securities Litigation Reform Act
of 1995: To the extent any statements made in this release contain
information that is not historical, these statements are essentially
forward-looking and are subject to risks and uncertainties, including
the difficulty of predicting future results, the regulatory environment,
fluctuations in operating results and other risks detailed from time to
time in Sparton's filings with the Securities and Exchange Commission
(SEC). The matters discussed in this press release may also involve
risks and uncertainties concerning Sparton's services described in
Sparton's filings with the SEC. In particular, see the risk factors
described in Sparton's most recent Form 10K and Form 10Q. Sparton
assumes no obligation to update the forward-looking information
contained in this press release.
