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BELFA > SEC Filings for BELFA > Form 8-K on 5-Aug-2013All Recent SEC Filings

Show all filings for BEL FUSE INC /NJ

Form 8-K for BEL FUSE INC /NJ


5-Aug-2013

Change in Directors or Principal Officers, Financial Statements and Exhibits


ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.

On July 30, 2013, the Board of Directors (the "Board") of Bel Fuse Inc. (the "Company"), upon the recommendation of the Nominating Committee of the Board, elected Norman Yeung, 59, to serve as a director of the Company. Mr. Yeung's election to the Board is effective July 30, 2013. Mr. Yeung was appointed to the class of directors whose terms expire at the 2014 annual meeting of shareholders. Accordingly, it is anticipated that Mr. Yeung will stand for election for a three year term at the 2014 annual meeting. Mr. Yeung has not been appointed to any board committees, and there are no current plans for him to serve on any of such committees. There is no arrangement or understanding between Mr. Yeung and any other person pursuant to which Mr. Yeung was selected as a director of the Company. Mr. Yeung does not have any direct or indirect material interest in any existing or proposed transaction to which the Company is or may become a party. Mr. Yeung fills a newly created vacancy on the Board and increases the size of the Board to nine members.

Mr. Yeung is the recently retired CEO of YEL Electronics Hong Kong Ltd., an electronic components distributor in China which he founded in 1992 and built into a US$300 million company. YEL Electronics was acquired in 2008 by NYSE-listed Avnet, one of the world's largest distributors of electronic components, computer products and technology services and solutions.

Mr. Yeung was formerly a board member and Corporate Vice President at AVX Corporation, also an NYSE-listed electronic components company. Mr. Yeung founded AVX subsidiary AVX Asia Ltd., and managed its growth into a US$200 million business.

Mr. Yeung holds a BSEE degree from UCLA.

On July 30, 2013, the Company issued a press release announcing Mr. Yeung's appointment to the Board. A copy of the press release is included with this Form 8-K as Exhibit 99.1.



ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

(d) Exhibits

As described in Item 5.02 of this Report, the following Exhibit is furnished as part of this Current Report on Form 8-K:

99.1 Press Release of Bel Fuse Inc. dated July 30, 2013.


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