Innovative Solutions & Support, Inc. Chief Executive Officer Geoffrey
Hedrick Announces Retirement Effective December 31, 2014
EXTON, Pa. -- April 24, 2014
During today’s conference call of Innovative Solutions & Support, Inc.
(NASDAQ: ISSC) (the “Company”), Geoffrey Hedrick announced that he would be
retiring as Chief Executive Officer of the Company, effective as of December
31, 2014. It is anticipated that Shahram Askarpour will take over as Chief
Executive Officer of the Company upon Mr. Hedrick’s retirement. Dr. Askarpour
is currently the Company’s President, a position he has held since April 2012.
Prior to becoming the Company’s President, Dr. Askarpour served the Company as
Vice President of Engineering from 2005 to April 2012 and as Director of
Engineering from 2003 to 2005.
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) and advanced
GPS receivers for precision low carbon footprint navigation.
Certain matters contained herein that are not descriptions of historical facts
are “forward-looking” (as such term is defined in the Private Securities
Litigation Reform Act of 1995). Because such statements include 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, those discussed in filings made by
the Company 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, which reflects management’s views only as of the
date hereof. The Company undertakes no obligation to revise or update any
forward-looking statements, or to make any other forward-looking statements,
whether as a result of new information, future events or otherwise.
Innovative Solutions & Support, Inc.
Ronald C. Albrecht, Chief Financial Officer
Jason Zywalewski, 610-646-9800 x 609
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