Golden Systems Names New President and CEO

Naren Bansal has been named president and chief operating officer for Golden Systems in Simi Valley.

Bansal has been with Golden Systems, doing business as Cortech Systems, since 1990 and was vice president for operations and sales.

“This promotion is in recognition of Mr. Bansal’s commitment to the company and his leadership in guiding it through very difficult times during the last two years,” said Jay Tandon, chairman and chief executive.

Golden Systems, which has suffered severe financial setbacks in recent years, adopted a recovery strategy three years ago. However, it has been slow in developing because of a lack of sufficient working capital to ramp up production, company officials said.

The company manufactures power switching supplies for electronics manufacturers to incorporate into their products.