Industry & Services >> CEO Interviews >> April 18, 2011
Cary B. Wood is the President and CEO of Sparton Corporation, a full-service developer, designer and manufacturer of complex and sophisticated electromechanical devices with a leadership position in the defense and medical sectors. Under Mr. Wood's leadership, Sparton began a turnaround in November 2008, and the company returned to profitability during the fiscal year of 2010. Mr. Wood is now driving Sparton's growth strategy beginning with the recent acquisition of Delphi Medical Systems. Mr. Wood has more than 20 years of experience in both public and private company settings. He started his career with General Motors Company, where he spent nearly 10 years. Mr. Wood was later recruited to United Technologies Corporation, where he served as Plant Manager and later as General Manager with full P&L responsibility. Mr. Wood executed an operating turnaround in a division with stamping, molding, assembly and distribution operations. While in the private company sector, Mr. Wood worked with companies such as Formica Corporation and Elkay Corporation, leading closures, consolidations, divestitures, merger and acquisition integration efforts, Greenfield site development, as well as lean deployment, Six Sigma and growth strategies. Mr. Wood joined Citation Corporation in late 2004 as COO, and he oversaw the company's planned financial and operating reorganization. The balance sheet was substantially deleveraged, cash management and working capital were significantly improved, the operating footprint improved its percent utilization, and the management team was upgraded. The corporation also achieved growth in spite of market contractions. Profile
TWST: Please start by giving us some history and background on Sparton Corporation.
Mr. Wood: Sparton (SPA)is an interesting company. I came into it a little over two years ago, and the company
