STONERIDGE Wiring harness maker names chief executive

The company's interim CEO returns to his role as chairman.
HOWLAND -- Stoneridge, a locally based maker of wiring harnesses and other electrical products, promoted its chief operating officer to chief executive.
The board of directors Monday promoted Gerald Pisani to replace Cloyd Abruzzo, who had been chief executive for 10 years. Abruzzo resigned Dec. 31.
The company didn't give a reason for his resignation but said Abruzzo would serve as a consultant for three years. Abruzzo also resigned from the board of directors.
Pisani joined Stoneridge in 1988 when the company acquired Joseph Pollak Corp., where Pisani had been president. He was named vice president of Stoneridge in 1989 and appointed president of its engineered products group in 1992. He was named chief operating officer when Abruzzo resigned.
Founder's comments
D.M. Draime, Stoneridge founder, had served as interim chief executive since December. He retains his role as chairman.
He said Pisani's performance as chief operating officer convinced the board that he was the best candidate for chief executive.
"Jerry has shown outstanding leadership and vision during his 16 years with the company, and he understands our business thoroughly," Draime said.
Pisani said he expects the company to grow in North America, Europe and emerging markets.
Abruzzo earned $480,000 last year and received a $150,000 bonus. Pisani earned $300,000, plus a $285,000 bonus.
The company expects to name a new chief operating officer by midsummer.
Stoneridge, which had sales of $607 million last year, is based in Howland but nearly all of its 5,500 employees are located at plants outside of this area.