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CLEARWATER — Owen Farren has resigned from his position as CEO, president, and chairman of the board at Technology Research Corp. (symbol: TRCI). In a release, the company said Farren was leaving to “pursue other interests.”
Ray Malpocher, a director with the company, will oversee day-to-day operations until a suitable replacement is identified. The search for a new CEO begins immediately, the company said in a release.
TRC earned $34.4 million in revenues in the 2010 calendar year, and lost $0.3 million in its last three months. In January, Coleman Cable Inc. (symbol: CCIX) offered to buy the Clearwater-based power systems manufacturer for roughly $36.4 million in cash.
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