FAIRFAX, Va., Feb. 16, 2012 /PRNewswire/ -- Innolog
Holdings Corp. (OTCBB: INHC), a holding company with subsidiaries
providing leading edge, process oriented thinking to government
customers by providing world-class logistics solutions to the U.S.
military, civilian agencies as well as state and local governments,
today announced the appointment of Richard
Stewart as President of Innovative Logistics Techniques,
Inc. (INNOLOG) and Eric Wagner as
Chief Financial Officer of Innolog Holdings.
Current President and Chief Executive Officer, Verle Hammond has retired from Innovative
Logistics Techniques, Inc. Mr. Hammond will remain as an
advisor to the company and remain on the Board of Directors.
William P. Danielczyk, Executive
Chairman of Innolog Holdings speaking on behalf of the Board of
Directors stated, "We thank Verle for his many years of service to
Innolog. He is not only the Founder, President and CEO of
INNOLOG, leading the Company on a daily basis, but has also been
recognized as a leader in the Logistics field for many years.
We are extremely pleased that Verle has decided to continue with us
in an advisory role, and will look forward to his continued
contributions as a Board member of both INNOLOG and Innolog
Holdings."
INNOLOG Founder, Verle Hammond
added, "I have always believed in our ability to recapture the
momentum that resulted in INNOLOG achieving an average of
$40,000,000 in annual revenues 6 to 7
years after start-up. This change will enable me to focus
exclusively on that objective."
William Danielczyk also
commented, "We are also pleased to finalize the appointments of
Richard Stewart as President of
Innovative Logistics Techniques, Inc. and Eric Wagner as Chief Financial Officer of
Innolog Holdings Corporation. The Board has been pleased with
the growth and development of both Rich and Eric in their
respective roles. They have provided the necessary day-to-day
leadership of INNOLOG having worked with Verle Hammond during the past two and half years
to collectively lead the INNOLOG management team on a daily
basis. The Board is excited about the Company's prospects
moving forward under their leadership."
About Us
Innolog Holdings Corporation was formed in March 2009 as a holding company for the purpose
of acquiring businesses that provide services primarily to federal
government entities. Our subsidiary, Innovative Logistics
Techniques, Inc. (www.innolog.com), was founded in 1989 to help the
Department of Defense address complex logistics business problems.
The company is a federal government contractor that brings
world-class solutions and leading edge process oriented thinking to
the U.S. military, civilian agencies and state and local
governments to provide solutions to complex logistics problems.
Additional information is available at
www.innologholdings.com.
Statements in this press release that are not statements of
historical or current fact, such as the expectation of future
revenue growth and profitability, constitute "forward-looking
statements." Such forward-looking statements involve known and
unknown risks, uncertainties and other unknown factors that could
cause Innolog's actual results to be materially different from the
historical results or from any future results expressed or implied
by such forward-looking statements. Factors that could cause
Innolog's results to be materially different from the
forward-looking statements include whether Innolog will be able to
find financing when and as it needs it and whether Innolog's
revenues will eventually exceed its expenses. The forward-looking
statements contained herein are also subject generally to other
risks and uncertainties that are described from time to time in
Innolog's reports filed with the Securities and Exchange
Commission, which are available for review at
http://www.sec.gov/.
Contact:
Investor Relations
Andrew Barwicki
516-662-9461 / andrew@barwicki.com
SOURCE Innolog Holdings Corp.