Security Devices International Announces Management Changes
MOUNT VERNON, VIRGINIA -- (MARKET WIRE) -- 06/09/10 -- SDI (OTCBB: SDEV) is announcing the resignation of its President and CEO, Sheldon Kales, which took effect on May 30, 2010. Mr Kales has served as the President and CEO since 2005.
Gregory Sullivan, A director of Security Devices International since the Company was founded in 2005, will assume the position of President and CEO.
"We want to thank Sheldon Kales for his many years of dedication to SDI. We wish him all the best in his future endeavours", said Mr. Sullivan.
SDI is moving forward with its patented Letrox family of less than lethal ammunition solutions.
"We have been shown great interest by both Military organizations as well as other Defense technology companies around the globe", Mr Sullivan said.
Sullivan stated that two of his top priorities for SDI in the short term are to increase and strengthen management and open the lines of communications between the company and its shareholders.
SDI is also announcing the addition of 2 new Directors.
Mr. Harry Walters, a graduate of the United States Military Academy at West Point, served as the Administrator of Veterans Affairs, reporting to President Ronald Reagan, from 1983 to 1986. He managed a 30 Billion dollar budget and 225,000 employees.
Mr. Walters was also President and CEO of Great Lakes Carbon Corporation, an $800 million international manufacturer of carbon based and artificial graphite industrial products from 1986 to 1993.
In April of 1991, Mr. Walters was asked by the White House to assume the duties of President and CEO of the Desert Storm Homecoming Foundation.
From 2001 to 2003, Mr. Walters participated as commissioner and a co-chair on the President's Task Force to Improve Healthcare for American Veterans.
Mr. Walters is a principal in the Lafayette Equity Fund, a $12 million Washington, DC-based venture capital fund investing in emerging growth technology companies nationwide. Mr. Walters also manages his own consulting corporation.
Mr. Walters has received numerous awards including two Distinguished Service Awards from the Department of Defense and the James E. Van Zandt Citizenship award from the Veterans of Foreign Wars.
Mr. Patrick Bryan, a former United States Army Officer, holds a Bachelor of Science Business Administration degree and a Masters of Business Administration degree.
Mr. Bryan has gained vast experience running multi-billion dollar companies to start-up companies in financial services. He was also responsible for leading a management buy-out of a military weapons company and subsequent turnaround. He has demonstrated the ability to lead organizations and drive rapid growth initiatives in challenging environments. He has significant international background and experience living 11 years in the Middle-East and 10 years in South America.
He was the Chairman, CEO and President of Land Warfare Resources Corporation, a Virginia based weapons company with a global customer base, from 2004 to 2008.
He is currently involved in International trade.
Other highlights of Mr. Bryans past include: Michigan Entrepreneur of the Year finalist (1995) as founder of Global Reinsurance Corporation. He was named President/COO of Blue Cross, Blue Shield of Ohio at 35, the youngest ever plan president at the time. He was designated "High Potential Manager" at General Electric Company 1983, GE's most prestigious management honor. United States Army Commendation Medal, 4 years active duty, unit commander for two years and lead a software development team at Computer Systems Command that fielded NATO wide systems changes ahead of schedule and under budget. Honorable Discharge to reserves as Captain in 1975.
"We welcome both Mr. Walters and Mr. Bryan to the Board. The additions to the Board will help strengthen the management of SDI and assist us with meeting our corporate goals and objectives", said Sullivan.
Security Devices has not authorized the release of this press release in any form that contravenes any law or regulation and will not be responsible for the unsolicited distribution of this material by e-mail or facsimile by unauthorized parties. Statements in this press release, which are not historical facts, are "forward looking statements" within the meaning given to that term in the private Securities Litigation Reform Act of 1995.
Security Devices intends that such forward -looking statements be subject to the safe harbours created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, actual results could differ materially from expected results.
For more information about the Company visit: www.lektrox.com.
Contacts: Gregory Sullivan Direct line - 905-334-6655 gsullivan@lektrox.com
Released June 9, 2010
