The change is part of Allied's strategy to 'transform from a products-based business in motion control to a solutions-oriented company.'
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Maida will serve in an advisory role to the CEO following his retirement, the company said in a news release.
For all of 2022, revenue was $503 million an increase of 25% over 2021, Allied said in its recent earnings announcement.
The electromagnetic components manufacturer said Ken May has been named corporate vice president and chief technology officer.
Airex, an electromagnetic components manufacturer based in Somersworth, New Hampshire, is expected to expand Allied's motor offerings.
In May, the packaging and jan/san distributor notched its 50th acquisition under current leadership. Weeks earlier, private equity firm Advent International agreed to acquire a large stake in the company.
The company says it acquired FPH, a developer of electrical drive systems and light weighting technologies for defense vehicles.
The designer and manufacturer of precision and specialty-controlled motion products and solutions completed the deal announced May 9.
The decline reflected lower sales to the Vehicle market, partially offset by growth in Industrial and Medical, which included contributions from Dynamic Controls.
Engel will serve as an independent director and has been appointed as a member of the Audit and Compensation Committees of the Board.
Manufacturer acquires Wisconsin-based company for $64.1 million.
Allied Motion reports fourth-quarter sales of $65.4 million.
The addition will enable Allied to provide a fully integrated steering system solution.
Kevin McNicholas will oversee regional sales teams, market managers and solution centers.
