Interesting turn of events Vaudry is a pretty successful businessman, hopefully he can make PSP into something.
Pacific Safety Products names Vaudry CEO
2012-09-20 09:40 ET - News Release
Mr. Fraser Campbell reports
PACIFIC SAFETY PRODUCTS INC. ANNOUNCES APPOINTMENT OF CHIEF EXECUTIVE OFFICER
Pacific Safety Products Inc.'s Terry Vaudry, a director of the company since September, 2010, and the chair of the audit committee, has been appointed as the chief executive officer of the company effective Oct. 1, 2012. Mr. Vaudry will replace Fraser Campbell who has filled the position on an interim basis since July 18, 2012. Mr. Campbell remains the interim chairman of the company.
"Terry has become increasingly involved in the operations of PSP over the past several months as the company has completed its rightsizing and has made an important contribution to the company's return to near-term profitability," said Fraser Campbell, interim chairman. "We are excited to have Terry take on an even greater leadership role as chief executive officer of the company."
Mr. Vaudry commented: "PSP remains a brand that represents quality and innovation. PSP has faced challenges in the past but its terrific reputation remains solidly intact and I look forward to leading a team of dedicated professionals."
The company also announced that Brad Field has resigned from the board of directors. The company would like to thank Mr. Field for his contributions over the past months.
The company has been taking the necessary steps to align and size its operations to current North American business opportunities and expects these efforts to improve the financial outlook of PSP. On May 22, 2012, PSP reported a profitable third quarter of its 2012 fiscal year. The company also continues to consider and evaluate on a continuing basis all alternatives available to it in the course of realizing its strategic direction.