Tina Chang, the chief executive officer of Brookfield-based information systems consulting and service company SysLogic, is joining the board of Strattec Security Corp.
The Glendale-based maker of vehicle keys, locks, latches, lift gate systems and other vehicle access products noted Chang has a strong background in business, technology, cybersecurity, and process development in information technology.
Chang was also a recent speaker at the BizTimes Economic Trends Event where she discussed issues in cybersecurity, IT, and the adoption of technology. Read more about what she had to say here and watch her entire presentation on demand here.
Strattec will expand its board to six people with the addition of Chang. Other board members include Harold Stratton II, the company’s chairman and former CEO, Thomas Florsheim Jr., the CEO of Weyco Group, Frank Krejci, current Strattec CEO, Michael J. Koss, CEO of Koss Corp., and David Zimmer, managing partner and co-founder of Stonebridge Business Partners.
The company also recently reported its second quarter results, which included an 11.4% drop in sales to $112.9 million. Net income also declined from $7.1 million in the prior year to $3.4 million.
Strattec’s business has been impacted by the global shortage of semiconductors as automakers close assembly plants while they wait to have the parts they need for vehicles.
“The automotive industry continues to deal with production constraints due to supply issues,” Krejci said. “Our team has generated reasonable profit while dealing with spikes in material and logistic costs and lower industry volumes impacting fixed overhead cost absorption. The efficiency improvements we have put in place over the past 18 months contributed to our ability to remain profitable. That bodes well for when the volumes increase.”