White Electronic Designs announces departure of Hamid Shokragozar

Aug 29, 2008 (M2 EQUITYBITES via COMTEX) -- WEDC | Quote | Chart | News | PowerRating -- White Electronic Designs Corporation (Nasdaq: WEDC), a designer and manufacturer of high technology components, systems, and branded products for military, industrial, medical and commercial markets, announced on Thursday that Hamid R. Shokrgozar has resigned as chairman, president, chief executive officer, and director of the company.

Edward A. White, the company's founder, has been elected as chairman of the board, following Shokrgozar's resignation.

The company said that its board has begun an immediate search for a replacement for Shokrgozar.

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 president of the company until a permanent appointment is made.

The company said that the office of the president will report to a committee of the board headed by White. The company's board has also formed a special committee to evaluate all possible strategic alternatives.

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