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Forward Industries Names New Chairman, CEO

“You will have a terrific management team in place to lead the way and, with your support, the plan is a guaranteed winner,” Sabra added in the letter.

Brett M. Johnson is the founder of Benevolent Capital Partners (“BCP”), a diversified investment company whose investments include Yak Pak and Terracycle. Prior to founding BCP, Mr. Johnson was the President of Targus Group International, a global supplier of notebook carrying cases and accessories, from 2001 to 2004, during which time he led a comprehensive restructuring of the business and grew EBITDA from a loss of $2m in 2000 to a profit of $42m in 2004. Prior to that he was managing director of Targus, EMEA and APAC regions where he increased sales from $25m to $125m and opened 18 international offices. Under Johnson’s leadership, Targus was a two-time winner of the Queen's Award for Enterprise and a six-time winner of Gartner Group's Best Vendor Award at RetailVision and VarVision.

Stephen Key heads up Key Consulting, a financial consulting firm, and serves on the board of directors for a number of companies and organizations. He was previously Executive Vice President and Chief Financial Officer of Textron and ConAgra, Inc. Key also worked for Ernst and Young for 24 years and was managing partner of their New York office.

Owen King is the founder and CEO of Stonehurst Management, an SEC-registered investment adviser founded in 2002. Prior to Stonehurst, King managed the global asset allocation program and served on the investment committee of one of the largest independent RIAs in the U.S. Previously, King was Senior Vice President of P.G. Corbin & Company where he advised many of the largest municipalities in the U.S. on their financing programs. He also worked as an investment banker for Prudential Securities.

About LaGrange Capital Partners

Founded by Frank LaGrange “Grange” Johnson in 2000, the firm manages LaGrange Capital Partners, an event driven/special situations fund focused on areas with a high return potential, and LaGrange Special Situations Yield Fund, a special situations fund focused on yield and value-oriented investments. LaGrange Capital Partners is based in New York.

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