President and chairman keep it in the family
A
Velan product story
Edited by the Engineeringtalk editorial team
May 28, 2003
Tom Velan has been appointed President of Velan and Ivan Velan has been appointed Chairman of the Board in addition to retaining his current management responsibilities.
Tom Velan has been appointed President of Velan and Ivan Velan has been appointed Chairman of the Board in addition to retaining his current management responsibilities.
AK Velan will continue to be CEO of the company.
AK Velan, who founded the company in 1950, said: "I am proud of what we have accomplished over the last 53 years and I am glad that my sons will now take an even bigger role in the company's management.
Now that Tom will take over my responsibilities as President, I will concentrate my efforts where I can best contribute to the success of the company".
Tom Velan has been with the company for 30 years and has been managing the international sales and overseas subsidiaries.
He will lead a strong management team of 13 vice-presidents with an average of 18 years of experience with the company.
Tom Velan said: "These are tough times for the valve industry, but we are fortunate to have as a foundation for the future, a very talented management team, experienced staff, highly skilled workers, excellent products, world class manufacturing facilities, a strong balance sheet, and one of the leading valve brand names.
I am glad that AK will continue to devote his boundless energy and enthusiasm to help us succeed in these challenging times.
I am also glad that my brother Ivan will be Chairman of the Board and I look forward to work very closely with Ivan for many years to come".
The company has also made the following changes to the responsibilities and titles of its officers.
Steve Farrell has been appointed CFO/Executive Vice-President Finance and IT as well as Corporate Secretary.
Rana Bose is appointed to the position of Executive Vice-President Engineering, R and D, QA, and Total Process Improvement.
Andy Smith's responsibilities have been expanded to Vice-President Procurement and Overseas Manufacturing; and Gil Perez has been newly appointed to the position of Vice-President Marketing.
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