Allied Motion Technologies Inc. (Nasdaq: AMOT), a designer and manufacturer that sells precision and specialty controlled motion products and solutions to the global market, announced today the appointment of Robert B. Engel to its Board of Directors, effective October 31, 2019. Mr. Engel will serve as an independent director and has been appointed as a member of the Audit and Compensation Committees of the Board. With the addition of Mr. Engel, Allied’s Board is now composed of eight directors, six of whom are independent.
“With many years of experience as a chief executive officer, Bob brings an impressive skillset, with many years of successfully driving business growth and transformation through effective strategic assessment, planning and execution. In addition, his knowledge and experience with audit requirements, regulatory compliance, internal controls and risk management enables him to be an immediate and effective contributor to the Allied Motion Board of Directors,” commented Dick Warzala, Chairman and CEO of Allied Motion.
Mr. Engel has over forty years of business and leadership experience and currently serves as Chief Executive Officer and Managing Director of BLT Advisory Services, LLC, a boutique advisory firm he joined in 2017, which provides guidance for business transformation, brand building and governance, as well as business and leadership development.
Prior to BLT Advisory Services, Mr. Engel was in the banking industry for more than 30 years, including 17 years at CoBank, ACB in Denver, CO, serving first as President and Chief Operating Officer and subsequently being promoted to President and Chief Executive Officer, responsible for leading the bank’s strategic and business initiatives. Under his leadership, CoBank delivered 17 consecutive years of earnings growth and was consistently rated among the safest banks in the world by Global Finance Magazine. Prior to this, Mr. Engel was with HSBC Bank USA in Buffalo, NY, for 14 years, where he served in positions of increasing responsibility, ultimately becoming the Chief Banking Officer. In this role, he was responsible for all revenue producing retail, commercial and institutional businesses. He began his banking career as Administrative Vice President at Empire of America, FSB. Before moving to the banking industry, Mr. Engel began his career in public accounting with Deloitte, and then KPMG, rising to the position of Senior Audit Manager.
Mr. Engel is currently an Independent Director at Alaska Power & Telephone, where he serves on the Audit Committee and as Chairman of the Compensation Committee, and is Chairman of the Board of Trustees at Regis University in Denver, CO. He formerly served as a Director and Vice Chairman of the Federal Farm Credit Banks Funding Corporation, Director and Chairman at Graduate Institute of Cooperative Leadership, Director and Chairman at National Council of Farmer Cooperatives, Director at HSBC/ Wells Fargo Trade Bank, Director at NYS Common Retirement Fund, Director at Mile High United Way, and Trustee at Niagara University. Mr. Engel is a recipient of the Ellis Island Medal of Honor.
About Allied Motion Technologies Inc.
Allied Motion (Nasdaq: AMOT) designs, manufactures and sells precision and specialty controlled motion products and solutions used in a broad range of industries within our major served markets, which include Vehicle, Medical, Aerospace & Defense, and Industrial. The Company is headquartered in Amherst, NY, has global operations and sells into markets across the United States, Canada, South America, Europe and Asia.
Allied Motion is focused on controlled motion applications and is known worldwide for its expertise in electro-magnetic, mechanical and electronic motion technology. Its products include brush and brushless DC motors, brushless servo and torque motors, coreless DC motors, integrated brushless motor-drives, gear motors, gearing, modular digital servo drives, motion controllers, incremental and absolute optical encoders, active (electronic) and passive (magnetic) filters for power quality and harmonic issues, and other controlled motion-related products.
The Company’s growth strategy is focused on being the controlled motion solutions leader in its selected target markets by leveraging its “technology/know how” to develop integrated precision solutions that utilize multiple Allied Motion technologies to “change the game” and create higher value solutions for its customers. The Company routinely posts news and other important information on its website at http://www.alliedmotion.com/.
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