Black Box Corporation (NASDAQ: BBOX) recently announced that Michael McAndrew will be stepping down as the president and chief executive officer of the company, effective upon the appointment of his successor.
"Mr. McAndrew will remain available to ensure a smooth transition," stated the company in a press release of December 23, 2015. "The Nominating & Governance Committee of the board is in charge of succession planning and has engaged a national executive search firm to conduct an external search for candidates."
Thomas G. Greig, chairman of the board for Black Box, added, “We want to thank Mike for his many years of service to Black Box and his leadership during the company’s recent transformational efforts. Despite recent challenges, both Mike and I are optimistic about the future of the company and agreed that now is the right time to transition to new leadership to take the company to its next phase of growth.”
McAndrew added, “It has been my privilege to serve Black Box in my many roles over the past 26 years and most recently as CEO. I believe that with our transformational efforts well underway, now is the right time for a transition. I am excited to work with the board to position our new leader for great success for the company in the future. I remain committed to the company and our team members, clients and stockholders until my successor is identified and a smooth transition has occurred.”
To learn more, visit the Black Box Web site at http://www.blackbox.com.