HOUSTON, Nov. 5, 2007 (PRIME NEWSWIRE) -- Houston Wire & Cable Company (Nasdaq:HWCC), a leading distributor of specialty wire and cable throughout the United States, announced today the election of Scott L. Thompson as non-executive Chairman of its Board of Directors. He will succeed Peter M. Gotsch, who resigned as Chairman on November 1, 2007. Mr. Gotsch, a member of Code Hennessy & Simmons, LLC (CHS) elected to step down as Chairman following the distribution of HWCC shares formerly held by a Code Hennessy & Simmons fund to fund investors.
"Peter has played a key role in many of the Board's initiatives to strengthen Houston Wire & Cable Company since CHS' acquisition in 1997 and the success of the company's initial public offering in June 2006. I would like to thank Peter for his long-term contribution to the successful progress we have enjoyed at HWCC during his tenure as Chairman. I am extremely pleased that he will continue to serve on the Board of Directors," commented Charles Sorrentino, President & CEO of Houston Wire & Cable Company.
Scott L. Thompson joined HWCC's Board of Directors in July 2006 and currently serves as Chairman of the Audit Committee. He also serves on the Board of Directors of UAP Holding Corp., a distributor of agricultural and non-crop products, and Conn's, Inc., a specialty retailer of electronics and home appliances. Mr. Thompson was a founder of Group 1 Automotive, Inc., a fortune 500 specialty retailer in the automotive retailing industry. Mr. Thompson served as the CFO and Treasurer of Group 1 Automotive, Inc from 1996 until 2004.
"Scott joined our Board last year and has been insightful and a true resource to the Company. He has extensive public company experience and is enthusiastic about the future of HWCC. I am excited about the opportunity to work with Scott in his new responsibilities," commented Sorrentino.
About the Company
With more than 30 years of experience in the electrical industry, HWCC is one of the largest distributors of specialty wire and cable and related services in the U.S. electrical distribution market. Headquartered in Houston, HWCC has sales and distribution facilities in Atlanta, Baton Rouge, Charlotte, Chicago, Denver, Houston, Los Angeles, Philadelphia, San Francisco, Seattle and Tampa.
Standard stock items available for immediate delivery include continuous and interlocked armor, instrumentation, medium voltage, high temperature, portable cord, power cables and private branded products, including LifeGuard(tm), a low-smoke, zero-halogen cable. HWCC's comprehensive value-added services include same-day shipping, knowledgeable sales staff, inventory management programs, just-in-time delivery, logistics support, customized internet-based ordering capabilities and 24/7/365 service. For more information, visit the website at www.houwire.com.
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