Morey Corporation Positions for Next Phase of Growth

WOODRIDGE, Ill., June 8, 2011 /PRNewswire/ -- The Morey Corporation today announced the promotion of Vincent Petrella to president. Petrella has served as Chief Financial Officer of the company for 10 years.

"Vince has been a trusted and valued member of our executive team for the past decade and has earned the respect and loyalty of the entire organization," said Scott Morey, Chief Executive Officer for The Morey Corporation. "His passion for operational excellence and continuous improvement as well as his keen understanding of our customers makes Vince a perfect fit for this role. Further, his appointment to president ensures that the principles and values that have defined us over the past 77 years will guide us for years to come."

Growth opportunities, strategic initiatives and the need to maintain a laser focus on customer service led the Board of Directors to split the CEO and president roles, both of which were held by Scott Morey for the past 22 years. Having grown the company's employee base from 150 to 720 on 1500 percent revenue growth during that time, Scott Morey will retain the CEO role and focus on strategic growth opportunities. As president, Petrella will lead all day-to-day operations of manufacturing, engineering and corporate support functions.

By putting in place an executive dedicated solely to operations, The Morey Corporation's customers will benefit from an increased focus on continuously improving the quality of the products and services the company provides.

Paul Callaghan will replace Petrella as CFO, coming to The Morey Corporation from Motorola, Inc. where he served as Director of Finance for the Global Mobile Broadband and Cellular Networks Engineering Group.

"We're equally excited to welcome Callaghan as our new CFO," added Morey. "His long track record of excellence in financial management will be important as the company continues its strong growth trajectory."

ABOUT MOREY

MOREY is an award winning, 77-year-old Electronics Manufacturing Services (EMS) company providing comprehensive design, engineering, manufacturing, and Global Supply Chain Management solutions for Original Equipment Manufacturers, Application Service Providers, Suppliers and other enterprises relevant to the aerospace & defense, industrial, utility, communications, heavy off-road/on-road and agricultural vehicles markets. MOREY-manufactured electronics can be found in every region of the world powering mission-critical applications in the most demanding environments. MOREY leverages deep expertise in telematics, power electronics, controls, sensors, displays, cord reels and handsets for its customers and complements its EMS offerings with value-added expertise in program management, ruggedization, and legacy support. MOREY is based in Woodridge, IL, and operates a 200,000 square foot, state-of-the-art manufacturing facility and design center.

SOURCE Morey Corporation