Stockholder, ex-Armor Holdings head wants to become new CEO of Federal Signal

By Lisa Kerner

Charlotte, N.C., June 30 - Federal Signal Corp. shareholder Warren B. Kanders is seeking to become chief executive officer of the company.

Kanders, a 5.7% shareholder, is the former CEO and chairman of the board of Armor Holdings, Inc.

Jim Goodwin is Federal Signal's interim president and CEO.

According to Kanders, the company's search committee "unfairly tainted to prejudice" the investor's candidacy despite his good-faith effort to comply with all of the committee's requirements.

Kanders believes Federal Signal has been mismanaged by its board and executive officers for many years and that effective leadership could reverse Federal Signal's significant negative rate of return over the past five years, a statement released by the shareholder stated.

Federal Signal is an Oak Brook, Ill.-based company focused on security technology and industrial tooling.

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