API’s Changing of the Guard

API Technologies named a new president and CEO today, and, like his predecessor Robert Taveres comes from the component side.

That makes sense because API derives much of its revenue — and profit — from making RF/microwave components. The firm has made headlines of late, however, because its lead shareholder is also the largest owner of IEC Electronics, an API competitor on the EMS side. And that shareholder, the equity group known as Vintage Capital, has been engaged in what turned out to be a victorious proxy battle for the leadership mantle of IEC.

With a new board in place at IEC, and an EMS veteran in charge, will this mean a sale of API’s EMS business to IEC is in the offing?