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| DYSL > SEC Filings for DYSL > Form 8-K on 3-Jul-2012 | All Recent SEC Filings |
3-Jul-2012
Change in Directors or Principal Officers
On June 27, 2012, Steven K. Ruggieri resigned as Chief Executive Officer and President of the Company, and the Company's Board of Directors (the "Board") has accepted his resignation, effective July 6, 2012. Peter Sulick, the Company's Chairman of the Board, will serve as the Company's Interim Chief Executive Officer and President, while a search is conducted by the Board for a permanent Chief Executive Officer and President. Mr. Ruggieri has also resigned his position as a member of the Board, effective July 6, 2012.
Mr. Sulick, age 61, has been a director of the Company since 2008 and served as the non-executive Chairman of the Board since September 2009. He was also the Chair of the Audit Committee and Audit Committee Financial Expert from July 2008 until February of 2012, when that role was assumed by John Millerick. Additionally, Mr. Sulick has served on the Nominating and Governance Committee since 2010. While serving as Interim Chief Executive Officer and President, Mr. Sulick will continue as Chairman of the Board, but he will step down as a member of both the Audit Committee and Nominating and Governance Committee. He will be replaced on the Audit Committee by independent director Michael Joyner. He will be replaced on the Nominating and Governance Committee by independent director David Kronfeld.
Mr. Sulick is currently President and CEO of AmeriSite, LLC, a family-owned real estate development and investment company, which he founded in 1998. Mr. Sulick is the Executive Chairman and former CEO of Prism Microwave, Inc. which provides RF conditioning products for the mobile wireless infrastructure industry. Mr. Sulick's business background includes the founding of Independence Broadcasting Corporation, PowerFone Inc., SSPCS Corp. and AmeriSite, LLC. From 1985 until 2002, Mr. Sulick founded and led broadcasting and telecommunications companies that were later acquired by Nextel, T-Mobile and others. In the early part of his career, Mr. Sulick was a principal financial officer for Cablevision Systems and has also held several senior-level financial positions at the Communications Operations Group of ITT. He began his career in the audit department at Arthur Andersen & Co, in New York City following graduate school. He is a certified public accountant who earned his MBA in finance from the University of Massachusetts and a B.S. in Business Administration from The Citadel.
Terms relating to Mr. Sulick's engagement as interim Chief Executive Officer and President are being finalized by the Company's Compensation Committee and will be disclosed by the Company when available on an amendment to this Current Report on Form 8-K..
For additional information regarding Mr. Ruggieri or Mr. Sulick, see the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2011 and Proxy Statement filed on January 11, 2012.
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