Bel Director John Tweedy to Retire from the Board and Not Stand for Re-election at the 2024 Annual Meeting

Bel plans to nominate David Valletta to join the Board, Former Executive Vice President of Worldwide Sales at Vishay Intertechnology

WEST ORANGE, N.J., March 07, 2024 (GLOBE NEWSWIRE) -- Bel Fuse Inc. (Nasdaq: BELFA and BELFB) (“Bel” or the “Company”), a designer, manufacturer, and provider of products that power, protect and connect electronic circuits, today announced that John Tweedy will retire from the Board and not stand for re-election at the Company’s 2024 Annual Meeting of Shareholders. The Board of Directors plans to nominate David Valletta to join the Board in 2024.

Mr. Tweedy has served on Bel’s Board since 1996 and throughout the years has served on various committees including Audit and Executive. John has been instrumental during Bel’s various acquisitions, international expansion, and recent changes to the overall organization.

“On behalf of the Board, I thank John for his many contributions to Bel. As a long-standing member of the Board, John’s insight and counsel will be missed,” said Dan Bernstein, President, CEO and Director.

Mr. Valletta brings over 40 years of sales and growth experience within the electronic components industry. In his most recent role as Executive Vice President of Worldwide Sales at Vishay Intertechnology, Mr. Valletta was responsible for a multi-billion global sales team and helped to set the strategic direction of the organization while attaining certain revenue and profit margin targets across all of its product categories. Mr. Valletta worked closely with the executive team and Board of Directors as they pursued acquisitions and integrated them within Vishay. Mr. Valletta began his journey at Vishay in 1994 and held prior roles at AVX corporation, a leading electronic component manufacturer based in South Carolina. He holds a BA from the University of Rhode Island and an MBA from Northeastern University.

“We are very pleased about the potential of adding Dave to our Board given his tremendous wealth of knowledge in building, leading and managing sales teams for global organizations within our industry,” said Dan Bernstein, Chief Executive Officer. “If elected, Dave will be helpful in sharing with us his proven expertise as we look to continue to invest and focus on growth in places such as Europe and the Automotive sector.”

About Bel
Bel (www.belfuse.com) designs, manufactures and markets a broad array of products that power, protect and connect electronic circuits. These products are primarily used in the networking, telecommunications, computing, military, aerospace, medical, transportation and broadcasting industries. Bel's product groups include Magnetic Solutions (integrated connector modules, power transformers, power inductors and discrete components), Power Solutions and Protection (front-end, board-mount and industrial power products, module products and circuit protection), and Connectivity Solutions (expanded beam fiber optic, copper-based, RF and RJ connectors and cable assemblies). The Company operates facilities around the world.