Innovative Solutions & Support, Inc. Appoint New Board Member
May 16 2024 - 4:00PM
Business Wire
Innovative Solutions & Support, Inc. (“IS&S” or the
“Company”) (NASDAQ: ISSC) is pleased to announce the appointment of
Major General Garry Dean to its Board of Directors as an
independent director, effective immediately. Maj. General Dean will
stand for election at the Company’s next annual meeting of
shareholders or until his successor is duly elected and qualified
or until his earlier, death, disqualification, resignation, or
removal. With Maj. General Dean’s appointment, the IS&S Board
has been expanded to five directors.
Maj. General Dean retired as the Director of the National Guard
Bureau (NGB) Joint Staff in the Pentagon, supporting Army and Air
National Guard policy, missions and operations in the 54 US states,
territories and the District of Columbia. A graduate of the US Air
Force Academy and a former F-15 pilot, Maj. General Dean had a
distinguished military career including commanding and leading a
combat deployment of the 142 Fighter Wing in Portland Oregon. Maj.
General Dean is rated as a command pilot and has over 4,000 flight
hours in the T-37, T-38 and F-15 airframes. Maj. General Dean
currently serves as President of Peduzzi Associates, Ltd., Senior
Advisor to Vita Inclinata Technologies, and Vice-Chair of the
Community Oversight Board of the Arlington County Police,
Virginia.
“We are honored to welcome an industry veteran of Major General
Dean’s caliber to the IS&S Board,” said Glen Bressner, Chairman
of the Board. “His appointment demonstrates IS&S’s commitment
to ensuring our board is composed of directors with relevant skills
and expertise to oversee the execution of IS&S’s strategy, and
we are confident he will be a valuable addition to the board.”
Dr. Shahram Askarpour, the Company’s Chief Executive Officer
said, “I have great respect for Garry’s experience and expertise in
military aviation and government relations, and all of us on the
board are looking forward to working with him.”
About Innovative Solutions &
Support, Inc.
Headquartered in Exton, Pa., Innovative Solutions & Support,
Inc. (www.innovative-ss.com) is a systems integrator that designs
and manufactures flight guidance and cockpit display systems for
Original Equipment Manufacturers (OEMs) and retrofit applications.
The Company supplies integrated Flight Management Systems (FMS),
Auto-Throttle Systems and advanced GPS receivers for precision low
carbon footprint navigation.
FORWARD LOOKING STATEMENT
DISCLAIMER
In addition to the historical information contained herein, this
press release contains “forward-looking statements” within the
meaning of, and intended to be covered by, the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
In this press release, the words “anticipates,” “believes,” “may,”
“will,” “estimates,” “continues,” “anticipates,” “intends,”
“forecasts,” “expects,” “plans,” “could,” “should,” “would,” “is
likely”, “projected”, “might”, “potential”, “preliminary”,
“provisionally”, “look forward” and similar expressions, as they
relate to the business or to its management, are intended to
identify forward-looking statements, but they are not exclusive
means of identifying them. All forward-looking statements are based
on management’s current expectations and beliefs concerning future
developments and their potential effects on the Company including,
without limitation; statements about: our expected benefits from
the appointment of a new director Forward-looking statements are
subject to numerous assumptions, risks and uncertainties, which
change over time. Forward-looking statements speak only as of the
date they are made. Because forward-looking statements are subject
to assumptions, risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking
statements. Factors that could cause results to differ materially
from those expressed or implied by such forward-looking statements
include, but are not limited to, the Company’s ability to
efficiently integrate acquired and licensed product lines,
including the Honeywell product lines, into its operations; a
reduction in anticipated orders; an economic downturn; changes in
the competitive marketplace and/or customer requirements; an
inability to perform customer contracts at anticipated cost levels;
and other factors that generally affect the economic and business
environments in which the Company operates. Such factors are
detailed in the Company's Annual Report on Form 10-K for the fiscal
year ended September 30, 2023, and subsequent reports filed with
the Securities and Exchange Commission. Many of the factors that
will determine the Company’s future results are beyond the ability
of management to control or predict. Readers should not place undue
reliance on forward-looking statements. The Company undertakes no
obligation to revise or update any forward-looking statements, or
to make any other forward-looking.
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