ZEELAND, Mich., April 12 /PRNewswire-FirstCall/ -- Gentex Corporation
(Nasdaq: GNTX), the Zeeland, Michigan-based manufacturer of
automatic-dimming rearview mirrors and commercial fire protection products,
today announced that the Company's Executive Vice President Garth Deur is
departing the Company to pursue other opportunities. In addition, effective
immediately, the Company's Vice President - Finance and Chief Financial
Officer Enoch Jen has been promoted to Senior Vice President and retains
the role of Chief Financial Officer. The Company also announced the
appointment of Steve Dykman as the Company's Vice President - Finance and
Chief Financial Officer, upon Jen's previously announced plan to retire
effective January 2, 2007.
"While we are sad to see Garth leave, we have appreciated his valuable
contributions at the Company over the past five years and wish him success
in his future endeavors," said Gentex Chairman and Chief Executive Officer
Fred Bauer. "We do wish him well."
"We were, unfortunately, unable to reach a mutually agreeable solution
to Garth's short- and long-term compensation requirements, as an integral
part of our culture mandates that all team members share in the financial
opportunities and sacrifices alike at the Company - just as our
shareholders and other employees do."
In connection with the earlier announcement on February 21, 2006, that
Jen had informed the Company of his plans to retire effective January 2,
2007, Steve Dykman, the Company's Treasurer and Director of Accounting and
Finance, has been appointed to the position of Vice President-Finance and
Chief Financial Officer, effective January 2, 2007. Bauer said that Dykman
joined the Company over twelve years ago as Finance and Tax Manager and has
steadily assumed increasing responsibilities within the Company.
"We are pleased that Steve has accepted this key position and look
forward to a smooth transition and the continued high quality of accounting
and financial reporting at Gentex," said Bauer.
Dykman graduated from Ferris State University, obtained his CPA
Certificate, and worked as Tax Manager at Gantos, Inc. prior to joining the
Company.
Jen is expected to remain at the Company through this management
transition.
A conference call related to this news release will be simulcast live
on the Internet beginning at 8:15 a.m. (EDST) April 13, 2006. To access
that call, go to http://www.gentex.com and select the "Audio Webcast" icon
in the lower right-hand corner of the page. Other conference calls hosted
by the Company will also be available at that site in the future.
Founded in 1974, Gentex Corporation (Nasdaq: GNTX) is an international
company that provides high-quality products to the worldwide automotive
industry and North American fire protection market. Based in Zeeland,
Michigan, the Company develops, manufactures and markets interior and
exterior automatic-dimming automotive rearview mirrors that utilize
proprietary electrochromic technology to dim in proportion to the amount of
headlight glare from trailing vehicle headlamps. Many of the mirrors are
sold with advanced electronic features, and approximately 95 percent of the
Company's
revenues are derived from the sales of auto-dimming mirrors to nearly
every major automaker in the world.
SOURCE Gentex Corporation
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Related links:
http://www.gentex.com
CONTACT:
Connie Hamblin of Gentex Corporation,
+1-616-772-1800
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