WHEELING, Ill. – Penray announced today that Howard Laga will be transitioning from the CEO position to that of senior adviser to the board. Laga will be succeeded by David Sholtis, who joins the company from Bosch’s Filtration business.
                                                           
Laga successfully transitioned the Penray organization through an ownership change with Source Capital LLC, preparing the business for strong organic growth and growth through acquisitions.
 
“Howard will stay on in an advisory capacity to assist Dave Sholtis with the CEO transition and will remain active as senior adviser, responsible for certain key customer accounts. We’ll continue to enjoy his company for quite a while,” said Thomas van der Meulen, a board member of Source Capital.
 
Succeeding Laga as CEO, Sholtis brings a wealth of heavy-duty and automotive aftermarket experience to the Penray organization. He spent his past four years at Robert Bosch LLC as vice president, and regional business unit leader, Filtration Americas. He was responsible for executing the Purolator growth strategy, which he successfully accomplished under tough market conditions. Prior to Bosch, Sholtis worked at Honeywell for 13 years, in numerous leadership positions with his final position as vice president of Autolite Products. Prior to Honeywell, he spent nine years at General Electric.
 
“David Sholtis will bring Penray a wealth of background knowledge in sales and marketing, a strong customer focus, and a solid foundation in lean manufacturing and finance. We’re excited to have a well-rounded leader like David Sholtis help us take Penray to the next level,” said Randy Fowler vice president, sales and marketing.
 
"This is a very exciting time to be joining Penray as it embarks on its next phase of growth,” said Sholtis. “I look forward to leading Penray as it grows with continued focus on meeting our customer’s needs and delivering great products.”