OracleTrading

[Aquaman]

FRPT could get interesting:


LADSON, S.C.--(BUSINESS WIRE)--Force Protection, Inc. (NASDAQ:FRPT - News) today announced that Gordon McGilton, Chief Executive Officer, has announced his retirement from the Company effective January 31, 2008. The Company Board of Directors has appointed Michael Moody, age 61, presently President, as the Interim CEO, while a search is conducted to select a CEO from internal and external candidates.
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Mr. Moody commented, “Force Protection is in a great position to build on the foundation of the Company’s innovative lifesaving ballistic- and blast-protected wheeled vehicles. It is an honor to be entrusted with this transitional role, and I welcome the challenges and opportunities as we work to advance the Company’s strategy for continued growth and success.”

Further, the Board of Directors has appointed Mr. Moody as Chairman of the Board of Directors and Roger G. Thompson as the non-executive lead independent director. Mr. Moody, has been a Force Protection director since 2006. “I welcome my new role as Chairman and Interim CEO of Force Protection,” said Moody, “and I extend the appreciation of the entire board of directors and senior management team for Gordon McGilton’s leadership and commitment to Force Protection during these formative years.”

Mr. McGilton has served as Force Protection’s CEO since 2005. Mr. McGilton said, “The Board of Directors of Force Protection had originally asked me to step in as a CEO while the Company developed and organized itself to meet the challenges of its extraordinary growth. As the scope of that potential began to expand, so did the scope of my task and the length of time commitment. I have enjoyed the pleasure, over the last three years, of working with some very smart, committed and patriotic people at Force Protection. It’s these people that have caused the success of the Company. I am confident that the Company will continue to be successful in the future and I am happy to work with the management team to ensure the continuity of the business as I plan my retirement from business.”

During his tenure at Force Protection, Mr. McGilton helped the Company establish itself as a market leader in ballistic- and blast-protected wheeled vehicles with the creation of Force Protection’s Buffalo, Cougar and Cheetah vehicles. Under his leadership, Force Protection also established an innovative joint venture, Force Dynamics, LLC, with General Dynamics Land Systems to produce Cougar vehicles to meet the immediate demand to protect service personnel in conflict zones in Iraq and Afghanistan.