Hi-Shear Appoints Additional Independent Director.TORRANCE, Calif. -- Effective July 11, 2008, Hi-Shear Technology Corporation, Torrance, CA, (AMEX AMEX
See: American Stock Exchange :HSR HSR homogeneously staining regions. ) has appointed Mr. Lawrence R. Moreau to its Board of Directors as an Independent Director at the Company. His appointment increases the total number of Directors from four to five. He will serve as a member of the Audit Committee, of the Nominating Committee, and of the Executive Compensation Committee.
Mr. Moreau spent over thirty years in public accounting, venture capital, and investment banking. Mr. Moreau was the founder of Moreau and Company, Inc., a financial advisory firm and of Moreau Capital Corporation, a NASD NASD
See: National Association of Securities Dealers
See National Association of Securities Dealers (NASD). registered investment banking firm, which assisted early and middle-stage growth companies to raise capital from both private and public financing transactions.
Prior to founding his own firm, Mr. Moreau was a Board member and the licensed Financial Principal for H.J. Meyers & Co., a NYSE NYSE
See: New York Stock Exchange investment banking firm. In this capacity, in addition to overseeing the financial operations of the firm, he participated in numerous public and private offerings of securities for companies in a variety of industries. Previous to his investment banking career, Mr. Moreau was a senior financial executive with Pacific Enterprises, now known as Sempra Corporation (NYSE:SER), a multi-billion dollar diversified holding company.
Mr. Moreau has served on several boards including Intermix Media Inc., the company that started MySpace.com and is currently the Chairman of the Audit Committee for Chatsworth Products, Inc., a major employee owned (ESOP ESOP
See: Employee Stock Ownership Plan
See Employee Stock Ownership Plan (ESOP). ) company in the computer hardware industry with over $120 million in revenues.
Mr. Moreau has held several licenses as both a registered Financial Principal and an Operations Principal with the National Association of Securities Dealers National Association of Securities Dealers (NASD)
Nonprofit organization formed under the joint sponsorship of the investment bankers' conference and the SEC to comply with the Maloney Act, which provides for the regulation of the OTC market. (NASD). He served on the Board of Directors of the Los Angeles Venture Capital Association (LAVA) and has been a panelist with the Securities and Exchange Commission (SEC). He holds a Bachelor's of Arts degree in Accounting and a Master's of Accounting Science degree from the University of Illinois University of Illinois may refer to:
An accountant who has met certain standards, including experience, age, and licensing, and passed exams in a particular state. (CPA).
Hi-Shear Technology provides pyrotechnic, mechanical, and electronic products to the aerospace and defense market in applications where safety, performance and high reliability are essential. It develops and produces advanced systems and products that are primarily used worldwide in space satellites, launch vehicles, national defense, and government programs.
This release, as it relates to product announcements and other Company matters, contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, risks related to market acceptance of and demand for the Company's products, dependence on the uncertainty of government budgetary issues, primary government contracts, and intellectual property rights.
More information regarding this release and other company matters is available through Hi-Shear's website at www.hstc.com, or contact Linda A. Nespole, Corporate Secretary, at (310) 784-7821.