Directorate Change (0948D)
March 16 2011 - 12:00PM
UK Regulatory
TIDMADID TIDMADIS
RNS Number : 0948D
Armor Designs, Inc.
16 March 2011
Press Release 16 March 2011
Armor Designs Inc.
("Armor Designs" or "Company" or "ADI")
Senior Management appointments and Board Change
Armor Designs Inc., (AIM: ADID, ADIS), the knowledge-based
designer and manufacturer of composite armour products, is pleased
to announce that it has initiated interim management changes to
coincide with a growth strategy, intended to elevate the Company to
the next stage of its corporate development.
As previously announced, on 22 June 2009, Philip A. Clement
joined ADI as interim President and CEO, to assist the Company "to
accelerate corporate growth and exploit value in its intellectual
property, which is not currently being utilised".
Consistent with the implementation of this growth strategy the
Board of Directors of ADI have approved the hiring of an interim
CFO, with a manufacturing and equity capital markets background, to
work with Mr. Clement. ADI is pleased to announce that Tom
Azzarelli, CPA, CMA, has been appointed interim CFO, effective 16
March 2011, and will work with Mr. Clement on the implementation of
the growth strategy to exploit the value of the Company's
intellectual property. Both Mr. Clement and Mr. Azzarelli will be
assisting the Nomination Committee in identifying their permanent
successors, in preparation for the next phase in the Company's
growth. Mr. Azarrelli replaces J. Craig Johnson who has resigned
from the Company and taken a position at a company outside the
armour industry. Mr. Johnson is working with ADI on a smooth and
orderly transition.
ADI is also pleased to announce the appointment of Ruth Covey,
M.B.A, B.S., as Director of Operations. Now that ADI's
manufacturing facility is operational and there is no anticipation
of any new manufacturing plant developments in the immediate
future, the Board is eliminating the COO position. Mrs. Covey will
assume the duties of Dr. Ardeshir ("Ardy") Sidhwa, COO, who has
resigned from the Company and Board, effective from 4 April 2011.
Mr Sidhwawill return to the semi-conductor industry to undertake a
similar scope of work. Dr. Sidhwa was instrumental in the
development of a state-of-the-art manufacturing facility for ADI
and fully supports the appointment of Mrs. Covey to the newly
created position of Director of Operations. Dr. Sidhwa will assist
Mrs. Covey in order to ensure a smooth transition.
Tom Azarelli has 35 years experience providing strategic advice
to companies on critical business decisions across a broad range of
domestic and international disciplines, including manufacturing and
technology development. He has a strong background in financial
planning, capital financing, profit improvement, operations
management, acquisitions and divestitures, consolidations and
technology.
Ruth Covey has over 20 years of experience in manufacturing
engineering at Raytheon, Boeing, and Applied Materials Inc. Mrs.
Covey has experience in the disciplines of quality assurance,
export control, project management, operations budgeting, and
prototype research & development. Ruth has worked at Armor
Designs for 7 years and has been instrumental in creation of all
the quality assurance and ISO certifications for ADI.
Dr. James A. St. Ville, Executive Chairman of the Company,
commented: "The Board would like to thank Craig and Ardy for the
important contributions they have made in helping steer the Company
through its initial development stage. The additional experience
that will be provided by Phil Clement and Tom Azzarelli, will
strengthen the Company and improve its ability to meet the
increasing needs for next-generation composite armour
products".
For further information please contact:
Armor Designs, Inc.
Phil Clement, Interim CEO Tel: +1 602 275 4633
Phil.Clement@armordesigns.com www.armordesigns.com
Shore Capital and Corporate Ltd.
Anita Ghanekar Tel: +44(0) 20 7408 4090
Edward Mansfield
Notes to editors
Tom Azzarelli
Tom earned his Bachelor of Science Degree at the University of
Scranton, Pennsylvania. He is a licensed New Jersey and Arizona
Certified Public Accountant and a Certified Management
Accountant.
Ruth Covey
Ruth has a Bachelor of Science Degree in Manufacturing
Engineering and a Masters Degree in International Management
(MIM/MBA) from Thunderbird University (American Graduate School of
International Management) in Phoenix, Arizona, USA.
Armor Designs, Inc. ("ADI") is a knowledge-based company
specializing in next-generation composite material design,
manufacture, prototyping and testing for applications and products
for the armor industry. ADI uses a proprietary design and
manufacturing process called VCM to rapidly develop new composite
armor products of superior ballistic, weight and flexibility. The
VCM process is protected by patents and trade secrets licensed to
ADI in perpetuity for use in field of armor.
For more information on Armor Designs, Inc., please go to
www.armordesigns.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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