McCormick to succeed Reiland as Magnetek CEO
Menomonee Falls-based Magnetek Inc. announced that Peter McCormick will be appointed president and chief executive officer, succeeding David Reiland, who will retire, but will remain on the company’s board of directors. The appointment will take effect Oct. 31.
McCormick has been executive vice president and chief operating officer of Magnetek since November 2006 and was responsible for the company’s Power Control Systems Group from 2002 to November 2006. McCormick joined the Company in 1993. Under Reiland’s watch, the company engineered a successful financial restructuring plan and moved its headquarters from Texas to Menomonee Falls.
"We would like to thank Dave for his leadership in returning Magnetek to financial stability and profitability subsequent to the divestiture of our Power Electronics Group in 2006. The company is now debt-free with solid market positions and excellent growth prospects. We are pleased that Dave will be remaining on our board," said Mitchell Quain, Magnetek’s chairman of the board. "We are fortunate to have a capable and experienced successor in Pete, who successfully led Magnetek’s Power Control Systems Group for a number of years. His knowledge of and experience with our products, markets and operations will be instrumental as we pursue our growth strategy." Magnetek manufactures digital power and motion control systems used in material handling, people moving and energy delivery.
