White Electronic Designs Corporation's Chairman, President and CEO Resigns to Pursue Other Opportunities

White Electronic Designs Corporation (Nasdaq: WEDC) announced today that Hamid R. Shokrgozar has resigned as Chairman, President, Chief Executive Officer, and director to pursue other opportunities.

Following Mr. Shokrgozar's resignation, Edward A. White, the Company's founder, was elected Chairman of the Board. The Board has begun an immediate search for a replacement. Until a permanent replacement is identified, Roger A. Derse, Vice President and Chief Financial Officer, and Dante V. Tarantine, Executive Vice President Sales and Marketing, will perform the duties of the office of the President of the Company. The Office of the President will report to a committee of the Board headed by Mr. White. The Board also formed a Special Committee to evaluate all possible strategic alternatives.

Mr. White, on behalf of the board, released this statement: "We acknowledge Hamid for his contributions and accomplishments throughout his tenure with the Company. Under Hamid's leadership, White Electronic Designs Corporation undertook key strategic initiatives and we believe that the Company is well positioned to grow its business and to continue to focus on its core markets. We express gratitude for Hamid's dedication and wish him success in his future endeavors."

"I am extremely proud of what we have accomplished at White Electronic Designs Corporation over the past ten years and I believe the Company is well positioned to capitalize on the substantial opportunities ahead of it," said Mr. Shokrgozar. "I wish the Company and all of its employees continued success in the future."


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