Exhibit 99.1TECHNOLOGY RESEARCH CORPORATION ANNOUNCESOWEN FARREN AS PRESIDENT AND CHIEF EXECUTIVE OFFICERCLEARWATER, FLORIDA, January 22, 2007 - Technology Research Corporation (“TRC”), (NASDAQ-TRCI),announced that effective today its Board of Directors has appointed Owen Farren to succeed Robert S. Wiggins asPresident and Chief Executive Officer of the Company. Mr. Wiggins will remain as Chairman of the Board.Mr. Wiggins stated, “I am pleased that we have successfully concluded the search for a chief execut ive officer.Owen Farren brings to TRC a diversity of executive managerial experience including strong operational skills neededto achieve strategic plans and goals.” Wiggins added, “I look forward to working with Owen as we continue toposition the Company for strategic growth.”Mr. Farren said, “I am excited about the opportunity to continue to build on the accomplishments of Bob Wiggins andall the dedicated TRC employees. With the recent successful settlement of the TRC patent infringement litigati on matter,my energies can be focused forward on developing plans for profitable growth and execution of those plans.” OwenFarren added, “I look forward to working with TRC’s worldwide customers to build a market centric strategy and identifyways to be a more value added partner to them.”In 2002, Owen Farren founded StratEx (Strategy and Execution) to provide strategic and tactical business planningincluding both consulting and interim senior executive assignments. He served as interim CEO for sev eral businessesincluding Servometer, a designer and manufacturer of precision electroforms and American Metal Coatings, an advancedpower finishing company. Prior to StratEx, Mr. Farren was Chairman, President and CEO of SL Industries, Inc.(AMEX:SLI), a publicly traded company in the international power systems business. During his twelve years withSL Industries, he directed a turnaround of the business, made a number of strategic acquisitions, and developed majornew product families. From 1983 to 1990, he was with the SIMCO Company, a subsidiary of Illinois Tool Works, Inc.(NYSE:ITW), where he held executive management positions prior to becoming the President and General Manager.Mr. Farren has an MBA from Indiana University in Finance and Business Administration and a BS from IndianaUniversity in Marketing and Management.Technology Research Corporation designs, manufactures and markets electrical safety products that save lives, protectpeople from serious injury from electrical shock and prevent electrical fires in the home and workplace. These productshave worldwide application. The Company also supplies power monitoring and control equipment to the United StatesMilitary and its prime contractors.“Safe Harbor” Statement: Certain statements made in this press release are forward looking in nature and,accordingly, are subject to risks and uncertainties. The actual results may differ materially from those describedor contemplated.# # #
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8-K Filing
Technology Research (TRCI) Inactive 8-KDeparture of Directors or Principal Officers
Filed: 22 Jan 07, 12:00am