HEI, Inc. announces management change
May 10, 2007
HEI, Inc. announced that its Chief Executive Officer, Mark Thomas has informed the Board of Directors that he will be resigning from the Company effective May 31, 2007. Mr. Thomas has accepted an unsolicited offer from a former consulting client in an unrelated industry. The Company and Mr. Thomas are working on a smooth transition plan through the end of the month and Mr. Thomas will provide ongoing support following his departure. The board of directors has begun a search for a replacement and is considering both internal and external candidates. "My decision to accept the unanticipated offer for another position was very difficult because of the progress we have made in the past six months. I had fully expected to lead HEI along with the board of directors to a strong and profitable future. I am confident that the employees and board of directors will continue on with the work that is currently underway and I expect HEI to be successful," said Mark Thomas, CEO.
HEI's Chairman of the Board, Thomas F. Leahy commented, "The board of directors is pleased with all of the progress that has been made in the past several months in laying the groundwork for the turnaround of our operations. The board of directors is committed to the long-term success of HEI and we are pleased with the efforts of the HEI employees that are working hard to build a future for themselves and the shareholders."