As part of its annual meeting of shareholders, Three-Five Systems Inc. (Tempe, AZ) announced the election of David Malmberg as a non-executive chairman of its board of directors. He replaces David Buchanan who, as previously announced, did not stand for re-election to the board due to his pending retirement. Buchanan will continue is in his current role as acting president and CEO until a new CEO is named.
Malmberg has been an outside director of Three-Five since April 1993. He is currently chairman of the company's compensation committee, leads the board's CEO search committee, and also serves on the audit committee. Malmberg is currently president and CEO of Fieldworks Inc. (Eden Prairie, MN), a manufacturer of ruggedized computer systems.