Velan will have a non-Velan-family CEO

Tom Velan, Chairman of the Board and CEO of Velan Inc., announced his plan to retire from his CEO position, effective March 1st, 2017. On that date, Yves Leduc, who is currently the President of the Company, will become President and CEO. Tom Velan will continue to be the Chairman of the Board. Yves Leduc will become the first non-Velan family CEO in the history of the family-controlled valve company.
The idea of having a new, not from Velan family, CEO started in 2012, said Mr Velan, remarking that the Velan family still holds the 70% of the society shares.