LAKE BARRINGTON, Ill.—The board of directors of CTI Industries Corp. has named Jeffrey Hyland as president, replacing Stephen Merrick who has been appointed CEO.
In a release, CTI noted that Merrick will succeed John Schwan, who is retiring from his position as the company's CEO. Schwan will remain chairman of the board, becoming CTI's first non-management chairman.
In addition to being named president, Hyland also was appointed to fill a vacancy on the board of directors.
Hyland, a senior-level executive, brings a background in management and consulting to his new position, according to CTI. He has served as a consultant to the firm on several occasions, and his experience with CTI extends more than 10 years.