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API Technologies Corp. announced the promotion of Bel Lazar to the position of president and chief executive officer of API Technologies Corp., effective August 1, 2012. Brian Kahn, who previously held the positions of chairman and chief executive officer, will continue to serve as chairman of the board. Bel Lazar joined API on February 28, 2011 as president and chief operating officer.
“Since joining API as president and COO last year, Bel has been instrumental in driving API’s acquisition strategy, integration, consolidations, and operational efficiencies,” said Brian Kahn, chairman of the board of API Technologies. “With acquisition integration now largely behind us, and the substantial increase in Adjusted EBITDA margin in our Systems, Subsystems, and Components business, the board of directors is confident moving forward under Bel’s high-caliber leadership. This management succession plan also provides API with a separation of CEO and Chairman responsibilities, which we believe is good governance.”
Commenting on his appointment, Bel Lazar said, "I appreciate the recognition from the board as reflected in this appointment. I am excited about the prospects ahead and the management team we have assembled to pursue them. It is also important to acknowledge the continued stewardship that Brian provides as Chairman to both the Company and me personally, and I'm looking forward to what collectively we can deliver for our stakeholders."
Bel Lazar holds a Bachelor of Science degree in engineering from California State University, Northridge, a Master of Science degree in computer engineering from University of Southern California, and a Juris Doctor degree from Southwestern University School of Law.
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