SigmaTron International announces executive retirement

SigmaTron International Inc. (NASDAQ:SGMA), a company specializing in printed circuit boards, announced the upcoming retirement of Executive Vice President and Assistant Secretary Greg A. Fairhead. The company, based in Elk Grove Village, Illinois, stated on Monday that Fairhead will officially retire on August 31, 2024.

Fairhead's departure comes after a tenure with SigmaTron, during which he held significant leadership roles within the organization. The company has not yet named a successor or detailed any transitional plans following his resignation.

SigmaTron's filing with the Securities and Exchange Commission provides formal notice of the change in executive leadership, which is a standard requirement for publicly traded companies when key management personnel leave or are appointed.

The news may be of interest to investors and stakeholders who follow SigmaTron, as executive changes can influence company strategies and operations. SigmaTron, with its listing on The NASDAQ Capital Market, is subject to strict disclosure regulations, ensuring transparency in its corporate governance.

As per the filing, SigmaTron's Chief Financial Officer, James J. Reiman, signed off on the report, affirming the accuracy of the information provided regarding the executive change.

This announcement, based on a press release statement, does not detail the reasons for Fairhead's retirement or any further plans the company has to address the vacancy. SigmaTron has not provided additional comments on the matter.

Investors and the market will be watching for further announcements from SigmaTron regarding their executive team's composition and any potential impact this change may have on the company's future direction and performance.

In other recent news, SigmaTron International has announced a new addition to its board. John P. Sheehan, currently serving as the President of the company, has been appointed as a Class I Director, a position he will hold until the 2024 annual meeting of stockholders. This decision was made following the recommendation of the Nominating Committee and fills the gap left by Thomas W. Rieck's reclassification as a Class II Director.

It is important to note that Sheehan's new role does not involve participation in any board committees. Moreover, as an employee-director, he will not be eligible for additional cash compensation or equity awards under SigmaTron's non-employee director compensation arrangements. These recent developments reflect SigmaTron's ongoing efforts to strengthen its board and leadership structure.

InvestingPro Insights

As SigmaTron International Inc. (NASDAQ:SGMA) navigates the upcoming retirement of a key executive, investors might consider recent financial metrics and market performance to gauge the company's current standing.

With a market capitalization of $20.66 million, SigmaTron trades at a low price-to-book multiple of 0.3, suggesting that the company's stock might be undervalued compared to its book value. This is complemented by an attractive price-to-earnings (P/E) ratio of 17.98, which adjusts to an even more compelling 3.36 when considering the last twelve months as of Q3 2024.

Moreover, the company has demonstrated profitability over the last twelve months, with a basic EPS (Continuing Operations) of $1.01. Despite a slight decline in revenue growth of -0.94% over the same period, SigmaTron has managed to maintain a gross profit margin of 11.14%, indicating some level of efficiency in its operations.

For investors tracking the company's stock volatility, it's worth noting that SigmaTron has experienced significant price fluctuations, with a one-week price total return of 21.86% and a contrasting one-month price total return of -37.96%.

For those interested in more detailed analysis and additional InvestingPro Tips, there are 11 more tips available on the platform, which could provide further insights into SigmaTron's financial health and investment potential. These tips offer a broader perspective on the company's performance metrics and valuation, helping investors make more informed decisions. To explore these insights, please visit InvestingPro at https://www.investing.com/pro/SGMA.

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