Bel Fuse Inc. announced on February 3, 2025, that Daniel Bernstein will step down as President and CEO effective May 27, 2025, after 24 years in the role and 46 years of service. Mr. Bernstein will transition to the role of Non-Executive Chairman of the Board of Directors.
Farouq Tuweiq, the current Chief Financial Officer, has been appointed to succeed Mr. Bernstein as President and CEO, also effective May 27, 2025. Mr. Tuweiq will vacate his CFO role, and the Board has initiated a search for a successor CFO.
Under Mr. Bernstein's leadership since 2001, Bel completed 19 acquisitions, growing sales from less than $100 million to over $600 million. Mr. Tuweiq joined Bel in 2021 and has been instrumental in transforming the company's corporate strategy and financial discipline, contributing to record profitability and stock price valuation.
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