Bel Fuse Inc. appointed Lynn Hutkin as CFO, succeeding Farouq Tuweiq, effective after the Annual Meeting on May 27, 2025.
Quiver AI Summary
Bel Fuse Inc. announced the appointment of Lynn Hutkin as the new Chief Financial Officer (CFO) effective immediately after the company’s Annual Meeting of Shareholders on May 27, 2025. Hutkin, who has been with the company since 2007 and most recently served as Vice President of Financial Reporting and Investor Relations, will succeed Farouq Tuweiq, who will transition to the role of President and CEO on the same date. In her new position, Hutkin will oversee Bel's financial strategies, including planning, treasury, tax, reporting, and investor relations. She brings extensive experience, having held various finance roles and led initiatives in mergers, acquisitions, and corporate finance. Hutkin expressed enthusiasm for her new role and for collaborating with Tuweiq and the team on future goals.
Potential Positives
- Lynn Hutkin's appointment as CFO signals continuity and stability in the company's financial leadership, which could positively impact investor confidence.
- Hutkin's extensive experience at Bel since 2007 suggests a deep understanding of the company’s operations and strategic goals, potentially enhancing financial strategies moving forward.
- The transition in leadership from Farouq Tuweiq to Hutkin underscores a clear management succession plan, reflecting well on corporate governance practices.
- Hutkin's background in various financial roles, including investor relations and mergers and acquisitions, positions her well to navigate the company's future financial landscape effectively.
Potential Negatives
- Transitioning leadership roles may indicate instability within the company's financial management, as a new CFO takes over responsibilities immediately following the current CFO’s ascension to President and CEO.
- The announcement does not provide specific details on the strategic direction expected under the new CFO, potentially raising concerns among investors about future financial strategies.
- While internal promotions can be positive, the lack of external hiring may indicate a limited pool of fresh ideas and perspectives, which can be seen as a negative for a company in a rapidly evolving industry.
FAQ
Who is the new CFO of Bel Fuse Inc.?
Lynn Hutkin has been appointed as the Chief Financial Officer of Bel Fuse Inc.
What responsibilities will Lynn Hutkin have as CFO?
She will oversee Bel's financial strategies, including planning, treasury, tax, reporting, and investor relations.
When did Lynn Hutkin officially start her role as CFO?
Lynn Hutkin's role as CFO will begin immediately following Bel's Annual Meeting on May 27, 2025.
Who is Lynn Hutkin succeeding as CFO?
She is succeeding Farouq Tuweiq, who will become President and CEO on the same date.
What previous roles has Lynn Hutkin held at Bel?
She served as Vice President of Financial Reporting and Investor Relations and Principal Accounting Officer.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$BELFA Hedge Fund Activity
We have seen 19 institutional investors add shares of $BELFA stock to their portfolio, and 29 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
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To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$BELFA Analyst Ratings
Wall Street analysts have issued reports on $BELFA in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Craig-Hallum issued a "Buy" rating on 03/25/2025
To track analyst ratings and price targets for $BELFA, check out Quiver Quantitative's $BELFA forecast page.
Full Release
WEST ORANGE, N.J., May 20, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of Bel Fuse Inc . (Nasdaq: BELFA and BELFB) (“Bel” or the “Company”) today announced the appointment of Lynn Hutkin as Bel’s Chief Financial Officer (CFO) effective immediately following Bel’s Annual Meeting of Shareholders to be held May 27, 2025. She will be responsible for Bel’s financial strategies and will lead the global finance organization, including planning, treasury, tax, reporting and investor relations. In her new role Ms. Hutkin is succeeding Farouq Tuweiq, Bel’s current CFO, who as previously announced will vacate his CFO role immediately following Bel’s 2025 Annual Meeting of Shareholders to be held May 27, 2025, upon Mr. Tuweiq’s assumption of the President and CEO role on that same date.
Ms. Hutkin joined Bel in 2007 and has held roles with increasing responsibilities, most recently serving in the role of Vice President of Financial Reporting and Investor Relations along with her designation as Principal Accounting Officer for Bel, which she will continue in her new role (together with her newly added designation as Principal Financial Officer). In addition to her primary roles, throughout her tenure at Bel, she has also been a leader in a variety of other areas including mergers and acquisitions, bank financing, corporate insurance and employee benefit programs. Ms. Hutkin started her career at Arthur Andersen within the audit group and subsequently held roles of increasing responsibility within finance at companies ranging from an IT consulting start-up to a $250 million publicly-traded courier company prior to joining Bel. Ms. Hutkin earned her B.S. of Accountancy from Bentley University and is an active CPA in the State of New Jersey.
“I am excited to continue working with Lynn and to build upon the accomplishments we have achieved since we began working together in 2021,” said Farouq Tuweiq, Bel’s current CFO. "Bel has gone through a number of transformational steps over the past four years and Lynn has been integral in strengthening best practices at Bel and enhancing financial discipline, financial reporting and internal procedures and controls throughout the organization."
“I’m beyond honored to step into the CFO role and very excited for the new journey ahead,” said Lynn Hutkin. “I look forward to the continued partnership with Farouq and our talented team in attaining our future goals.”
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 defense, commercial aerospace, networking, telecommunications, computing, general industrial, high-speed data transmission, transportation and eMobility industries. Bel's portfolio of products also finds application in the automotive, medical, broadcasting and consumer electronics markets. Bel's product groups include Power Solutions and Protection (front-end, board-mount, industrial and transportation power products, module products and circuit protection), Connectivity Solutions (expanded beam fiber optic, copper-based, RF and RJ connectors and cable assemblies), and Magnetic Solutions (integrated connector modules, power transformers, power inductors and discrete components). The Company operates facilities around the world.
Company Contact:
Farouq Tuweiq
Chief Financial Officer
[email protected]
Investor Contact:
Three Part Advisors
Jean Marie Young, Managing Director or Steven Hooser, Partner
631-418-4339
[email protected]; [email protected]
