Bel Fuse names Lynn Hutkin as new CFO

WEST ORANGE, N.J. - Bel Fuse Inc. (NASDAQ:BELFA and BELFB), a manufacturer of electronic components with a market capitalization of $858 million, has announced Lynn Hutkin as the company’s new Chief Financial Officer (CFO), effective immediately after its Annual Meeting of Shareholders scheduled for May 27, 2025. According to InvestingPro data, the company maintains a strong financial health score of "GOOD" and has consistently paid dividends for 23 consecutive years. Hutkin will take over from Farouq Tuweiq, who will become Bel’s President and CEO on the same date.

Hutkin, a Certified Public Accountant, joined Bel in 2007 and has since held various roles of increasing responsibility within the company, including Vice President of Financial Reporting and Investor Relations. She has also been involved in mergers and acquisitions, bank financing, corporate insurance, and employee benefit programs throughout her tenure at Bel.

Prior to joining Bel, Hutkin gained experience at Arthur Andersen in the audit group and held finance positions at several companies, including a publicly-traded courier company. She holds a Bachelor of Science in Accountancy from Bentley University.

In her new role, Hutkin will be responsible for steering Bel’s financial strategies and leading the global finance organization, which encompasses planning, treasury, tax, reporting, and investor relations. She will also retain her role as Principal Accounting Officer, adding the title of Principal Financial Officer. The incoming CFO will oversee a company that generated revenues of $559 million in the last twelve months, with a healthy current ratio of 3.31, indicating strong liquidity. For deeper insights into Bel Fuse’s financial metrics and future prospects, investors can access comprehensive analysis through InvestingPro’s detailed research reports.

The outgoing CFO, Tuweiq, praised Hutkin’s contributions to Bel, highlighting her role in strengthening financial practices and internal controls. Hutkin expressed her honor in stepping into the CFO role and her enthusiasm for the future collaboration with Tuweiq and the Bel team to achieve the company’s goals.

Bel Fuse designs and markets products that power, protect, and connect electronic circuits, serving industries such as defense, aerospace, networking, and telecommunications. The company operates facilities worldwide and its product range includes power solutions, connectivity solutions, and magnetic solutions. Despite recent stock price volatility, with shares down approximately 28% over the past six months, the company maintains profitability with earnings per share of $3.42. InvestingPro subscribers can access additional insights, including more than 10 exclusive ProTips and detailed valuation metrics for Bel Fuse.

This announcement is based on a press release statement from Bel Fuse Inc.

In other recent news, Bel Fuse has been the subject of several notable developments. Craig-Hallum initiated coverage on Bel Fuse with a Buy rating and a price target of $115, highlighting the company’s recent transformation and improved financial metrics. The acquisition of Enercon, which increased Bel Fuse’s revenue by approximately 20% and EBITDA by 40%, is expected to enhance the company’s margins and attract more investor attention. Additionally, Bel Fuse announced changes to its executive compensation program, following a review by the Compensation Committee of the Board. The adjustments include a 30% reduction in target award opportunities for executives, with payouts based on individual contributions and company performance. Notably, CFO Farouq Tuweiq and executive officer Peter Bittner III received incentive awards totaling $328,125, split between cash and deferred equity. Furthermore, the base salary of Steve Dawson was increased to $315,000 from $250,000, effective January 1, 2025. These changes aim to align executive incentives with shareholder interests and reflect the company’s significant achievements.

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