Lawrenceville, Ga. – SED International Holdings, CE, computer and small appliances distributor, has reached an agreement with Paragon Technologies to change members on its board of directors.
Under terms of the agreement, the board announced the following transitions, effective immediately:
• Executive chairman Samuel A. Kidston and each of the other directors of SED, J.D. Abouchar, Arthur Goldberg, J.K. Hage, Steven Metayer and Robert G. O’Malley have resigned from the board.
• The following designees of Paragon have been appointed to the board: Dennis L. Chandler, Hesham M. Gad, Jack H. Jacobs and Samuel S. Weiser.
• Robert G. O’Malley will continue as CEO of SED.
“We are all pleased that the situation with our largest shareholder has been resolved and I commend both Paragon and the SED board for their efforts in reaching an agreement,” said O’Malley.
SED will hold its annual shareholders meeting on Wednesday, Dec. 11, at 11 a.m. (EDT) at company headquarters, here.