Contact Information: Contact: Pfeiffer High Investor Relations, Inc. Geoff High 303-393-7044
Law Enforcement Associates Appoints Paul Briggs as President and Chief Executive Officer
| Source: Law Enforcement Associates
RALEIGH, NC--(Marketwire - December 21, 2009) - Law Enforcement Associates Corporation (LEA)
(OTCBB : LAWE ), a leading U.S.-based developer and manufacturer of
electronic surveillance equipment, today announced that the board of
directors has appointed Paul Briggs as the Company's president and chief
executive officer. Briggs, who has served as LEA's chief financial officer
since May 2008, replaces Alan Terry, who joined LEA as interim CEO in
August 2009. Briggs also replaces Terry on the Company's board of
directors.
"Paul's leadership skills and business acumen were clearly evident during
the recent management transition," Terry said. "He quickly emerged as an
ideally qualified candidate to serve as the Company's CEO."
"One of my primary recent objectives was to work with independent counsel
as part of a Special Investigation Committee to review various allegations
made by the Company's former CEO and director of sales in a complaint filed
with the Department of Labor," Terry added. "The Committee has completed
its review of those allegations and a final report was filed last Thursday
with the Securities and Exchange Commission. With this important
assignment now complete, I have great confidence in passing the leadership
of LEA to Paul Briggs."
Tony Rand, chairman, said, "Paul possesses a thorough knowledge of LEA's
specialized business, its customers and its long-range growth
opportunities. Upon his arrival at the Company in 2008, he spearheaded a
successful effort to reduce expenses, improve operating efficiencies and
return the Company to profitability. The board has been encouraged by his
sound strategic thinking and his proactive approach to addressing our
immediate challenges."
Briggs will head a management team that includes Mark White, senior vice
president of technical operations, and Jay Becker, sales manager. "Mark
and Jay have extensive industry experience and are highly regarded amongst
our customers in the law enforcement and surveillance sectors," Briggs
said. "I look forward to working with them and the entire LEA team as we
seek to expand our customer base, add new revenue streams and enhance
shareholder value."
Briggs will maintain his role as LEA's chief financial officer while the
Company conducts a search for a qualified professional to oversee his
financial management duties.
"The board would like to express its appreciation for the contributions of
Alan Terry during his time as interim CEO," Rand said. "His expertise and
assistance during our management transition proved extremely valuable."
About Law Enforcement Associates Corporation
LEA is a leading security and surveillance technology Company that
manufactures and markets a diverse product line to the worldwide law
enforcement, military, security and corrections markets. The Company's
Audio Intelligence Devices (AID) division has been serving the law
enforcement sector for more than 30 years and is one of the most respected
names in the surveillance equipment industry. LEA's products are used by a
wide variety of government and non-governmental agencies, as well as public
and private companies. These include military bases, nuclear facilities,
embassies, government installations, oil refineries, United Nations and
NATO locations. LEA's products have been used at high-profile events such
as the Summer & Winter Olympics, Super Bowl, U.S. Golf Championship, and
the Democratic and Republican National Conventions. Its products include
the Under Vehicle Inspection System (UVIS), EDK123 (Explosive Detection
Kit), Bloodhound and Birddog GPS Tracking Systems, Graffiti Cam,
Letter-bomb Visualizer Spray, and a wide variety of Audio & Video
Surveillance Equipment. Headquartered in Raleigh, N.C., the Company has
been featured in many industry publications and websites. For more
information, please visit www.leacorp.com.
Forward-Looking and Cautionary Statements
This release contains "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Among other things, these statements relate to our
financial condition, results of operations and future business plans,
operations, opportunities and prospects. In addition, we and our
representatives may from time to time make written or oral forward-looking
statements, including statements contained in filings with the Securities
and Exchange Commission and in our reports to stockholders. These
forward-looking statements are generally identified by the words or phrases
"may," "could," "should," "expect," "anticipate," "plan," "believe,"
"seek," "estimate," "predict," "project" or words of similar import. These
forward-looking statements are based upon our current knowledge and
assumptions about future events and involve risks and uncertainties that
could cause our actual results, performance or achievements to be
materially different from any anticipated results, prospects, performance
or achievements expressed or implied by such forward-looking statements.
These
forward-looking statements are not guarantees of future performance. Many
factors are beyond our ability to control or predict. You are accordingly
cautioned not to place undue reliance on such forward-looking statements,
which speak only as of the date that we make them. For a description of
factors that may cause actual results to differ materially from such
forward-looking statements, see the Company's Annual Report on Form 10-K
for the year ended 2008, and other reports from time to time filed or
furnished to the Securities and Exchange Commission. We do not undertake
to update any forward-looking statement that may be made from time to time
by us or on our behalf.