Force Protection, Inc. Announces Board Restructuring.LADSON, S.C. -- Force Protection, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :FRPT FRPT Force Protection, Inc. (stock symbol) ) today announced that Ray Pollard will step down as a board member, effective August 4, 2006. Pollard will continue in his key position as chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , overseeing the operations of the company's South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. facility. Management intends to restructure the board to establish a majority of independent directors, positioning the company to apply to trade on a national securities exchange in the future. "Ray joined the board as an independent director to assist Force Protection as it became a mainstream armored vehicle manufacturer," said CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Gordon McGilton. "We deeply appreciate his contribution as a board member and his continuing leadership role as head of our manufacturing subsidiary." The Buffalo and Cougar cougar: see puma. cougar or puma or mountain lion or panther Species (Puma concolor) of large, graceful cat that lives in a wide variety of habitats in the Americas, from southern Alaska to Patagonia. armored vehicles produced by Force Protection are highly popular with U.S. forces, who credit the blast protection technology with saving lives. About Force Protection Force Protection, Inc. manufactures ballistic- and mine-protected vehicles through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. . These specialty vehicles are protected against landmines, hostile fire In insurance law, a combustion that cannot be controlled, that escapes from where it was initially set and confined, or one that was not intended to exist. A hostile fire differs from a friendly fire, which burns in a place where it was intended to burn, such as one confined , and Improvised Explosive Devices (IEDs, commonly referred to as roadside bombs). Force Protection's mine and ballistic protection technology is among the most advanced in the world. The vehicles are manufactured outside Charleston, S.C. For more information on Force Protection and its vehicles, go to www.forceprotection.net. This release contains forward-looking statements, including, without limitation, statements concerning our business, future plans and objectives and the performance of our products. These forward-looking statements involve certain risks and uncertainties ultimately may not prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Technical complications may arise that could prevent the prompt implementation of the strategic plan outlined above. The company cautions that these forward looking statements are further qualified by other factors including, but not limited to, those set forth in the company's Form 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at http://www.sec.gov). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise, except as required by law. |
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