SYKESVILLE, Md. –
GSE Systems, Inc. (“GSE” or “the Company”) (NYSE MKT: GVP), the
world leader in real-time high-fidelity simulation systems and training
solutions to the power and process industries, today announced that its
Board of Directors has elected Suresh Sundaram as a Class II Director
and Chairman of the Nominating Committee effective September 14, 2016.
The Board also has appointed Jim Stanker Chairman of the Audit Committee
effective the same day.
Dr. Sundaram has more than 25 years of experience in product
development, sales operations, and marketing leadership, focused on
simulation technology. In August 2016, he was appointed Senior Vice
President, Products and Marketing at Exa Corporation, a publicly-traded
simulation software company focused on product engineering solutions.
Prior to Exa, Dr. Sundaram held a variety of leadership roles during a
twenty-year career at Aspen Technology, a publicly-traded process
software company, where he most recently was Senior Vice President of
Products and Market Strategy. Dr. Sundaram earned his Master of Science
and Ph.D. degrees in Chemical Engineering from the Massachusetts
Institute of Technology (MIT) and a Bachelor of Science degree in
Chemical Engineering from the Indian Institute of Technology (IIT),
Bombay.
Kyle Loudermilk, GSE’s President and Chief Executive Officer, said,
“Suresh comes to our Board of Directors with highly relevant marketing
and new product development experience and expertise, particularly in
simulation technology and software. We welcome Suresh and look forward
to his guidance as we expand our software offerings in the power and
process sectors.”
Dr. Sundaram commented, “I am honored to join GSE’s Board and look
forward to contributing to the Company’s success. I am excited to
contribute to the growth of GSE as a new Board Member, as I see the
company has a skilled and specialized workforce and highly
differentiated technology for the power and process industries. Based on
my experience building successful simulation technology businesses, I
believe GSE is well positioned to exploit those capabilities in its end
user markets.”
Separately, Dr. Sheldon L. Glashow, a director since 1995, announced his
retirement from the Board of Directors effective September 15, 2016. Mr.
Loudermilk commented, “We are grateful for Sheldon’s more than two
decades of service as a Director of GSE’s Board, and wish him the best
in his future endeavors.”
ABOUT GSE SYSTEMS, INC.
GSE Systems, Inc. is a world leader in real-time high-fidelity
simulation, providing a wide range of simulation, training and
engineering solutions to the power and process industries. Its
comprehensive and modular solutions help customers achieve performance
excellence in design, training and operations. GSE’s products and
services are tailored to meet specific client requirements such as
scope, budget and timeline. The Company has over four decades of
experience, more than 1,100 installations, and hundreds of customers in
over 50 countries spanning the globe. GSE Systems is headquartered in
Sykesville (Baltimore), Maryland, with offices in St. Marys, Georgia;
Huntsville, Alabama; Chennai, India; Nyköping, Sweden; Stockton-on-Tees,
UK; and Beijing, China. Information about GSE Systems is available at www.gses.com.
FORWARD LOOKING STATEMENTS
We make statements in this press release that are considered
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934. These statements reflect our current expectations
concerning future events and results. We use words such as “expect,”
“intend,” “believe,” “may,” “will,” “should,” “could,” “anticipate,” and
similar expressions to identify forward-looking statements, but their
absence does not mean a statement is not forward-looking. These
statements are not guarantees of our future performance and are subject
to risks, uncertainties, and other important factors that could cause
our actual performance or achievements to be materially different from
those we project. For a full discussion of these risks, uncertainties,
and factors, we encourage you to read our documents on file with the
Securities and Exchange Commission, including those set forth in our
periodic reports under the forward-looking statements and risk factors
sections. We do not intend to update or revise any forward-looking
statements, whether as a result of new information, future events, or
otherwise.
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