EXTON, PA — Omega Flex, Inc. (NASDAQ: OFLX), a leading manufacturer of flexible metal hose, has recently announced significant changes to its leadership structure, signaling a continuation of its transition to a new generation of management. The changes, effective January 1, 2024, are set to further the company’s growth and maintain its position as an innovator in the gas tubing industry.
The Board of Directors, acting on recommendations from the Nominating/Governance Committee, unanimously elected Edwin B. Moran as a Class 2 Director with a term expiring at the 2025 annual shareholders’ meeting. Additionally, Dean W. Rivest was elected as a Class 3 Director, with his term expiring at the 2026 annual meeting.
In a series of organizational changes, Kevin R. Hoben will step into the role of Executive Chairman, with outgoing CEO Dean W. Rivest succeeding him. Edwin B. Moran will replace Rivest as President, both reporting to Hoben. Susan B. Asch will be promoted to Vice President while continuing her roles as General Counsel and Corporate Secretary, reporting to Rivest. Lastly, David R. Edler will be promoted from Director – MediTrac to Vice President and General Manager – MediTrac, also reporting to Rivest.
These appointments are part of Omega Flex’s strategic plan to ensure a smooth transition to a new generation of leadership. The management team, which includes Matthew F. Unger, Robert Haines, Geraldine Glazer, Daniel Hrynkow, and James Upchurch, brings a wealth of industry experience and a dynamic approach to uphold the company’s growth trajectory.
Dean Rivest expressed gratitude towards Hoben for his service as Chairman since 2019 and as CEO since 2007. He acknowledged Hoben’s instrumental role in the company’s growth and his visionary approach to the development of gas tubing. Rivest is honored to assume the CEO role and join the Board, while extending congratulations to Moran, Asch, and Edler on their promotions.
Kevin Hoben expressed satisfaction with the progress made in implementing best practices in organizational development and succession management. He expressed confidence in the management team and the Board to drive the company’s short and long-term goals for success.
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