| Houston Wire & Cable Elects New Chairman |
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Houston Wire & Cable Co., a distributor of specialty wire and cable, said Monday its named Scott L. Thompson as non-executive chairman of the company’s board, replacing Peter M. Gotsch. Gotsch, a member of private equity firm Code Hennessy & Simmons LLC, resigned as chairman on Thursday after company shares previously held by a Code Hennessy & Simmons fund were distributed to fund investors. Gotsch, 43, will continue to serve on the company’s board. Thompson, 48, joined the company’s board in July 2006 and currently serves as chairman of its audit committee. Thompson founded Group 1 Automotive Inc. and served as the retailer’s chief financial officer and treasurer from 1996 until 2004. Houston Wire & Cable shares gained 66 cents, or 4.7 percent, to $14.51 in afternoon trading, after hitting a 52-week low of $13.52 earlier in the session. The stock previously traded between $13.82 and $31.19 during the past 52 weeks. |
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