On May 29, 2015 the board of directors of Torotel Inc. appointed Heath Carlton Hancock as its new Chief Financial Officer, effective July 6, 2015. As of that date, the present CFO, Mr. James Serrone, will no longer serve as CFO, but will remain with the company as Vice President of Supply Chain and Quality. Mr. Hancock joined the company in January, 2010 and currently serves as the Vice President of Accounting and Business Analytics.

Mr. Hancock's prior experience includes roles as a Senior Accountant at YRC Worldwide and as an Auditor at KPMG, LLP. Mr. Hancock was also a participant in the business leadership development program at The Boeing Company.