Test and measurement equipment manufacturer Audio Precision has announced a “transition of company ownership from majority shareholder Bruce Hofer to AP’s leadership team.”
Hofer is a co-founder of the company and the lead product designer and developer. He’ll remain chairman of the board along with overseeing design and product development.
Company President Dave Schmoldt will take over as CEO. A release indicated that no further changes in the company were expected in the immediate future. The deal was effective on Dec. 16.