TRC chairman and CEO steps down

Technology Research Corp. (Nasdaq:TRCI), Clearwater, Fla., said today that Owen Farren resigned his positions as chairman of the board, chief executive officer and president of the company, "to pursue other interests." Ray Malpocher, TRC's lead director, will oversee daily management of the company until a successor CEO has been appointed. The company will take a one-time charge associated with the management change in its fourth-quarter results.

It's unclear at the moment what effect this may have on Coleman Cable's unsolicited bid to acquire TRC for about $36.4 million, or whether Farren's departure is in any way related to that matter.

TRC's announcement

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