Brookings, S.D., USA - June 25, 2015, Brookings, S.D., USA - Daktronics, Inc. announced the retirement of director James A. Vellenga from its board of directors, effective September 2, 2015.
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Mr. Vellenga had served on the Daktronics board of directors since 1997. He is a member of the nominating and corporate governance and audit committees.
The board has selected Kevin P. McDermott and John P. Friel as independent directors.
Mr. McDermott fills the vacancy created by the May 1, 2015 retirement of Bruce W. Tobin, and his appointment is effective June 23, 2015.
Mr. McDermott joins the board of directors with 33 years in various capacities with the accounting firm of KPMG LLP, including audit engagement partner, SEC reviewing partner, professional practice partner, and in the firm's Office of General Counsel.
In addition to fulfilling professional obligations related to audits of financial statements and internal control over financial reporting, he assisted clients with financial and operational issues, acquisition due diligence, personnel performance, and corporate governance.
In his capacity as SEC reviewing partner, Mr. McDermott performed concurring partner reviews of audits of financial statements and internal control over financial reporting for publicly held audit clients. While in the Office of General Counsel, he provided assistance on a privileged basis to the firm and outside counsel in various SEC and PCAOB investigations and third party litigation matters.
Although Mr. McDermott retired from KPMG LLP, he provides litigation support consulting services on a part time basis. He is a licensed Certified Public Accountant in Tennessee and New York and holds a Bachelor of Science in economics from South Dakota State University.
Mr. Friel is nominated to fill Mr. Vellenga's vacancy, and he will stand for election at the September 2, 2015 annual meeting of shareholders.
Mr. Friel served for 30 years in various capacities at MEDRAD, Inc., a global company that designs, develops, manufactures, sells, and supports medical devices. He joined MEDRAD in the accounting area and earned a promotion to treasurer and vice president in corporate planning in 1986 and the business development area in 1987.
He then served as executive vice president of sales and marketing from 1989-1995, senior vice president and general manager from 1995-1998, and as president and CEO from 1998-2010. The company received the Malcolm Baldrige National Quality Award twice during his tenure - in 2004 and again in 2010.
Mr. Friel is currently the managing director at Preservation Technologies LP, the director of the medical device industry segment at Blue Water Growth LLC, and a business consultant and board member of various companies in his position at Five Radicals LLC. ■