This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Forward Industries Names New Chairman, CEO

Forward Industries, Inc. (NASDAQ:FORD) (“the Company” or “Forward”) and LaGrange Capital Partners announced today that LaGrange founder and general partner Frank LaGrange “Grange” Johnson will assume the role of Chairman of the Board of Forward Industries, a technology solutions provider that designs, markets and distributes carrying cases and accessories for the handheld consumer electronics and medical device industries. Additionally, Brett M. Johnson will take over as CEO.

Doug Sabra made the announcement that he is immediately stepping down as Acting Chairman and CEO. In addition, Owen King and Stephen Key are joining the Board of Directors, replacing Bruce Galloway and Michael Schiffman. Mr. Schiffman has agreed to serve as an ongoing advisor to the Company.

The company has also repealed all corporate actions taken on June 9 th, 2010, including the adoption of the Shareholder Protection Rights Agreement and certain amendments to the Company’s Bylaws.

LaGrange, the largest shareholder of Forward with 26.40% of the shares outstanding, is pleased with the positive changes and believes the new management team can create shareholder value.

Grange Johnson wished Sabra and the outgoing board members well and thanked them for their years of dedicated service. “We are excited about the opportunity ahead of us and we appreciate the support of the Company going forward,” said Johnson.

“With this new leadership team, we are excited to grow Forward’s existing original equipment manufacturer business and to expand with new product channels and geographies,” said Brett M. Johnson. “We believe that these represent significant and exciting opportunities for the Company. Over the course of the next few years, we are looking to transform Forward into a leader in the technology accessories category.”

In a letter to the Company, Sabra noted that “Brett M. Johnson brings an exceptional amount of industry experience and is the best possible person to execute the strategy recently adopted by the board.”

1 of 4

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs