02.01.2014

Bigger board for Sevcon

Sevcon, the producer of motor controllers for aerial lifts and fork trucks, has appointed three new directors, Glenn J. Angiolillo, Ryan J. Morris and Walter M. Schenker, increasing the size of its board to 12.

The three additions were proposed by GAMCO/Gabelli investment funds, controlled by Mario Gabelli, which in total controls over 35 percent of Sevcon’s equity.

Angiolillo, a lawyer, is president of a wealth management consulting and advisory firm and also serves as a director of NY Magic, LICT Corporation, Ryman Hospitality Properties and Trans-Lux.

Morris, an engineer and ‘activist investor’, is the founder of Meson Capital Partners and chief executive of VideoNote an educational video streaming company. He is also executive chairman of InfuSystems Holdings, and was chairman of Lucas Energy until November.

Schenker has a background with hedge funds, investment management and has been put forward as a director by Gabelli in the past, including his appointment last year to the board of Superior Industries.

Sevcon chairman William Ketelhut said: "We welcome the experience and perspectives these new directors bring to Sevcon and look forward to their contributions to maximizing value for our shareholders."