HANOVER, Md., May 27, 2015 (GLOBE NEWSWIRE) — The KEYW Holding Corporation (Nasdaq:KEYW) announced today that Leonard Moodispawwill be retiring as Chairman of the Board of Directors and Chief Executive Officer, effective May 27, 2015. Mr. Moodispaw reluctantly decided to step down due to health reasons. Mr. Moodispaw has been the Chairman and CEO of KEYW since its founding in August 2008. He will remain with KEYW as a director.
“It has been my honor and privilege to serve as KEYW’s CEO for the last seven years and I wish to thank our employees and shareholders for giving me that opportunity,” commented Len Moodispaw. “But the time has come for me to retire to ‘this one particular harbor’ and hand the reins to the next generation of leadership at KEYW. I will remain available to facilitate the best possible transition to Mark Willard as interim CEO and work with the Board to select the ideal candidate for KEYW’s next CEO.”
“It is with tremendous reluctance that the KEYW Board accepts Len’s resignation as CEO and Chairman,” said Lead Director Caroline Pisano. “He has been the driving force of KEYW since its founding and of immeasurable value to the company, its employees and the integral customers we serve. We look forward to working with Len to transition to a new CEO and on future KEYW activities.”
The Board of Directors was unanimous in its praise of Len, citing his confident and engaged leadership, deep commitment to the defense and intelligence communities, and his abiding humanity and personal concern for the welfare of others. The Board has appointed Mark Willard, KEYW’s Chief Operating Officer (COO), as interim President and CEO until a permanent CEO is appointed. Mr. Willard has been COO of KEYW since its founding in August 2008. Caroline Pisano, KEYW’s Lead Director, has been named Chairman of the Board of Directors. The KEYW Board has initiated a search process to identify a permanent CEO. Pursuant to KEYW’s Bylaws Mr. Willard was elected to the Board of Directors.
“Len’s commitment to national security, dedication to customers’ missions, and his compassion for employees has been an inspiration to thousands,” commented Mark Willard, interim CEO of KEYW. “I look forward to continuing to work with Len during the transition to ensure KEYW continues to implement the vision he has provided since we formed the company in 2008.”
Forward-Looking Statements: Statements made in this press release that are not historical facts constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements containing the words “estimates,” “believes,” “anticipates,” “plans,” “expects,” ‘will,” “potential,” “opportunities,” and similar expressions. Our actual results, performance or achievements or industry results may differ materially from those expressed or implied in these forward-looking statements, including, but not limited to, express or implied statements concerning: our expectations regarding our future financial performance, including the potential impact of successful contract awards; our bid and proposal pipeline; our ability to achieve projected growth in certain of our business units and the expected timing of such growth; demand for our products, services and solutions serving the intelligence, cyber and counterterrorism communities; and performance of key contracts, including the timing of production related to certain of our contracts and product offerings. Factors that may cause our results to differ, potentially materially, from those expressed or implied in our forward-looking statements include, but are not limited to: risks to our business and financial results related to reductions and other spending constraints imposed on the U.S. Government, including as a result the Federal budget deficit and Federal government shut-downs; risks of adverse regulatory action or litigation; risks that changes, cutbacks or delays in spending by Intelligence Community (IC) customers, including the National Security Agency (NSA), the National Geospatial-Intelligence Agency (NGA), and other agencies within the IC, the Federal Bureau of Investigation, and the Department of Defense (DoD) may occur, which could cause delays or cancellations of key government contracts; risks of delays to or the cancellation of our projects as a result of protest actions submitted by our competitors; risks that changes may occur in Federal government (or other applicable) procurement laws, regulations, policies and budgets; risks related to changes in government and customer priorities and requirements (including cost-cutting initiatives, the potential deferral of awards, terminations or reduction of expenditures to respond to the priorities of Congress and the Administration; and those risk factors set forth in our Annual Report on Form 10-K, dated and filed March 16, 2018 with the Securities and Exchange Commission (SEC), and other filings that we make with the SEC from time to time. Due to such uncertainties and risks, investors are cautioned not to place undue reliance on such forward-looking statements. We are under no obligation to (and expressly disclaims any such obligation to) update or alter our forward-looking statements whether as a result of new information, future events or otherwise.
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