ISS Announces Resignation of Dale Parker and Names Chad Stelzig as New Interim CEO and Richard Ehrich as New Interim CFO
ST. PAUL, MN (June 27, 2016) Image Sensing Systems, Inc. (NASDAQ: ISNS) today announced that Dale Parker has resigned as Chief Financial Officer, Interim Chief Executive Officer, Chief Operating Officer and membership to the Board of Directors. As Mr. Parkers successors, its Board of Directors has appointed Chad Stelzig as Interim Chief Executive Officer and Richard Ehrich as Interim Chief Financial Officer.
Id like to thank Dale for his contributions to Image Sensing Systems (ISS), said Andrew Berger, ISS Executive Chairman. During his tenure, Dale has contributed to ISS by working to create a solid foundation, which will support growth and profitability in the years ahead.
Mr. Stelzig has most recently served as Vice President of Engineering of ISS in addition to his prior position as Director of Algorithm and Software Engineering at the Company. Mr. Stelzig has over 15 years of engineering and management experience. Prior to joining ISS, he has held various positions at General Dynamics, C4 Systems, and Lockheed Martin. Mr. Stelzig holds a Masters of Science in Electrical Engineering from the University of Illinois at Chicago. He holds a Bachelor of Arts degree with a concentration in Physics and Mathematics from Hamline University.
I am honored to have the opportunity to further influence the success of Image Sensing Systems. Leveraging our talented workforce, we will position ourselves for success through disciplined leadership and a tenacious pursuit of innovative solutions, said Mr. Stelzig. The Company has built great momentum and has bright prospects. I look forward to working closely with the Board of Directors, executive leadership and Image Sensing staff to continue building on this momentum and driving value for customers and shareholders.
Mr. Ehrich has most recently served as Controller of ISS. Mr. Ehrich has over twenty years of extensive financial leadership experience and a proven track record working with global, technology-based companies. He has held various financial leadership positions at KPMG LLP and Arthur Andersen within the Transaction Advisory Services and Assurance Services practices. Mr. Ehrich holds a Bachelor of Arts degree with a concentration in Accounting from the University of St. Thomas. He is also a licensed CPA (inactive) in Minnesota.
Mr. Berger commented, We are very pleased to announce Rich as our new Interim Chief Financial Officer. The breadth of his financial expertise and business experience supporting global, growth-oriented companies make him an excellent fit for the role. Since joining ISS, Rich has brought a strong focus on operational excellence and applying his seasoned financial experience to our business. I am confident that he will play a significant role at ISS as we drive to achieve our long-term goals of sustainable revenue growth, earnings acceleration and strong returns on invested capital.
About Image Sensing Systems
Image Sensing Systems, Inc. is a global company dedicated to helping improve safety and efficiency for cities and highways by developing and delivering above-ground detection technology, applications and solutions. We give Intelligent Transportation Systems (ITS) professionals more precise and accurate information including real-time reaction capabilities and in-depth analytics to make more confident and proactive decisions. We are headquartered in St. Paul, Minnesota. Visit us on the web at imagesensing.com.