ORLANDO, Fla., Aug. 16 -- Schwartz Electro-Optics Inc. has a new management team and a new board member. Darrell Kelley, a two-year SEO board member, replaced founder Bill Schwartz, as chairman. James M. Sellers, also a board member, has agreed to serve as interim CEO. And Jeff Saunders, formerly SEO's Orlando general manager, was named president of the company's Orlando operations.Pat Schwartz, wife of SEO founder Bill Schwartz, who died July 23, was elected to the board of directors. While we are all saddened by Bill Schwartz' death, we are determined to continue with the implementation of his vision for SEO. It is our intention to continue to grow SEO's financially secure core business while executing Bill's strategy of acquiring companies that provide SEO with the technology and intellectual property to build on our success as a premier provider of laser-based systems and software, said Kelley.