Implant Sciences Corporation (NYSE Alternext US: IMX), a supplier
of sophisticated systems and sensors for the homeland security market
and related industries, today announced the appointment of Glenn D.
Bolduc as the Company’s new President and Chief Executive Officer. In
addition, the Board of Directors has appointed Mr. Bolduc as a member of
the Board. Both appointments were effective January 1, 2009. Prior to
these appointments, Mr. Bolduc held the position of Chief Financial
Officer. Phillip C. Thomas resigned his positions as the Company’s
President, Chief Executive Officer and Chairman effective December 31,
2008 to pursue other personal interests.
Phillip C. Thomas stated, "Almost two years ago I joined Implant
Sciences and was charged with the task of leading the Company through a
major restructuring enabling the Company to be more competitive in the
Security, Safety and Defense (SS&D) industry. During my tenure, we
disposed of non-strategic assets; built an industry-focused team capable
of meeting the challenges within the SS&D marketplace; made significant
sales progress, especially in penetrating the international marketplace;
and strengthened our overall financial position during difficult
economic times. I believe the Company’s restructuring goals have been
accomplished, as have my own personal goals. The time is right to hand
the reins of the Company over to Glenn Bolduc, who I am certain, will
continue executing on the Company’s strategic plan.”
Glenn D. Bolduc, President and Chief Executive Officer of Implant
Sciences, commented, "We are most appreciative of Phil Thomas’
leadership and his efforts to position the Company to be a pure-play in
the SS&D industry. With the repositioning task behind us, we are keenly
focused on executing our growth plan. We believe our organization has
now been properly streamlined so as to be able to take advantage of
growth opportunities while doing so in a cost-effective manner. While
drawing upon my past experiences in leading companies facing challenges
similar to those faced by Implant Sciences today, I look forward to
working with our experienced and knowledgeable team in executing our
strategic plan. We believe our talented staff and innovative technology
form the foundation upon which Implant Sciences can grow into a market
leader in the SS&D industry.”
About Implant Sciences
Implant Sciences develops, manufactures and sells sophisticated sensors
and systems for the Security, Safety and Defense (SS&D) industries. The
Company has developed proprietary technologies used in its commercial
portable and bench-top explosive trace detection systems which ship to a
growing number of locations domestically and internationally. For
further details on the Company and its products, please visit the
Company’s website at www.implantsciences.com.
Safe Harbor Statement
This press release contains certain "forward-looking statements,” as
that term is defined in the Private Securities Litigation Reform Act of
1995. Such statements are based on management’s current expectations and
are subject to risks and uncertainties that could cause the Company’s
actual results to differ materially from the forward-looking statements.
Such risks and uncertainties include, the Company’s ability to execute
on the Company’s growth plan; the Company’s ability to retain the staff
necessary to execute upon the strategic plan; the Company’s ability to
innovate and become a market leader; and other risks and uncertainties
described in the Company’s filings with the Securities and Exchange
Commission, including its most recent Forms 10-K, 10-Q and 8-K.
For further information, you are encouraged to review Implant Sciences’
filings with the Securities and Exchange Commission, including its
Annual Report on Form 10-K, as amended, for the period ended June 30,
2008 and Quarterly Report on Form 10-Q for the period ended September
30, 2008. The Company assumes no obligation to update the information
contained in this press release.
