Dynasil Announces Mr. Peter Sulick Elected Chairman of the Board of Directors
September 16 2009 - 8:36AM
Business Wire
Dynasil Corporation of America (OTCBB: DYSL.OB) announced today
that Mr. Peter Sulick has been elected the Chairman of the Dynasil
Board of Directors. Former chair, Mr. James Saltzman, has been
elected to the role of Vice Chairman. In addition to his new
duties, Mr. Sulick will continue to serve as Chair of the Audit
Committee of Dynasil’s Board of Directors.
Mr. Sulick, founder of Independence Broadcasting Corporation,
PowerFone Inc., SSPCS Corp. and AmeriSite, LLC, joined the Dynasil
Board in June of 2008 and became Chair of the Board’s Audit
Committee at that time. He is an entrepreneur with extensive
background in building media and technology companies, executing
their business strategy and building operations. He has served as
CEO, CFO and Corporate Controller engaging in an IPO, numerous
large debt and equity financings, franchising and a $350 million
leveraged buy-out. Since 1985, Mr. Sulick has founded and lead
telecommunications companies subsequently acquired by Nextel and
T-Mobile. In the early part of his career, Mr. Sulick was a
principal financial officer for Cablevision Systems and has also
held several senior-level financial positions at the Communications
Operations Group of ITT. He began his career in the audit
department at Arthur Andersen & Co, in New York City following
graduate school. He is a CPA, earned his MBA in finance from the
University of Massachusetts and a B.S. in Business Administration
from The Citadel. Mr. Sulick has been a significant investor in
Dynasil since 2005.
Former Dynasil Chairman now Vice Chairman, Mr. James Saltzman
stated: "Over the past five years, Dynasil has grown into a
profitable and exciting Company. Mr. Sulick has the dynamic skills
to be Chairman through the next stage of our growth.” Dynasil CEO,
Mr. Craig Dunham, added “We thank Jim who has been Chairman since
1999 and has shepherded Dynasil through profitable growth exceeding
70% per year for the last five years. We are extremely pleased to
have Mr. Sulick take on the Chairman role given his track record of
creating significant shareholder value." Mr. Sulick stated “I am
excited to play a larger role with Dynasil as we continue to
execute our strategy. Dynasil represents the kind of opportunities
I have participated in throughout my career - significant and
profitable growth through organic growth, commercialization of our
broad research portfolio and acquisitions.”
About Dynasil: Dynasil has achieved profitable growth from $2
million in revenues to a running rate of $35 million during the
past five years. It derives the majority of its revenue from
contract research for government and private industry and is a
manufacturer of specialized instruments and products for a broad
range of applications markets in the medical, industrial, and
homeland security/ defense sectors.
This news release may contain forward-looking statements usually
containing the words “believe,” “expect,” “work”, “plan”, or
similar expressions. These statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act.
Future results of operations, projections, and expectations, which
may relate to this release, involve certain risks and uncertainties
that could cause actual results to differ materially from the
forward-looking statements. Factors that would cause or contribute
to such differences include, but are not limited to, the factors
detailed in the Company's Annual Report or Form 10-KSB and in the
Company's other Securities and Exchange Commission filings,
continuation of existing market conditions and demand for our
products and services.
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