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 appointed Jim Stanker as a Class I Director and
member of the Audit Committee, effective August 8, 2016. With Mr.
Stanker’s addition, GSE’s Board has increased to seven directors,
including five independent members.
Mr. Stanker brings to GSE’s Board more than 30 years of strategic audit
expertise and financial leadership with multinational corporations in
the technology, manufacturing and commercial product industries. Most
recently, he concluded a sixteen year career at Grant Thornton LLP,
where he served in various leadership capacities, including audit
partner, professional practice director for the Atlantic Coast market,
and global head of audit quality for the firm’s international
organization. Prior to Grant Thornton, Mr. Stanker served terms as the
Chief Financial Officer of a NASDAQ-listed technology company and the
Chief Financial Officer of a privately-held life science startup. He
started his career as an auditor with Touche Ross in the early 1980s.
Mr. Stanker earned a Master of Business Administration from California
State University, East Bay and a BS degree in Aeronautics from San Jose
State University. He is a licensed Certified Public Accountant (CPA) in
Maryland, Virginia, and Washington, D.C., and received the global
management accounting designation from the American Institute of CPAs
(AICPA).
Kyle Loudermilk, GSE’s President and Chief Executive Officer, said, “We
welcome Jim to the Board of Directors and look forward to benefiting
immediately from his expertise in corporate governance, strategic
financial management and best practices in corporate controls. His
substantial auditing and financial expertise will help us immensely in
this next phase of our growth journey.”
Mr. Stanker commented, “GSE’s proven simulation and training technology
platform provides an excellent foundation for future growth. I am
honored to join the other highly-qualified members of GSE’s Board and
look forward to helping them guide management during the ongoing
transformation and growth of the business.”
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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GSE Systems, Inc.
Chris Sorrells, 410-970-7802
Interim Chief
Operating Officer
or
The Equity Group Inc.
Devin
Sullivan, 212-836-9608
Senior Vice President
dsullivan@equityny.com
or
Kalle
Ahl, CFA, 212-836-9614
Senior Associate
kahl@equityny.com