Dynasil Corporation of America (NASDAQ: DYSL), a leader in the development and manufacture of detection, sensing and analysis technology, today announced that the board of directors has promoted President Steven K. Ruggieri to chief executive officer of the Company and appointed him as a director, effective immediately.
Ruggieri, 60, becomes the eighth member of the board. He was named president of Dynasil in April 2011, succeeding President and CEO Craig T. Dunham. Ruggieri has more than 32 years of leadership experience in the research, defense, security and technology markets working at Foster Miller and its successor company, Qinetiq Group North America. He led business operations for Qinetiq North America’s Technology Solutions Group for parent Qinetiq Group PLC, a $2.5 billion public UK company. The Technology Solutions Group was formed through the 2004 acquisition of Foster-Miller, an R&D and product innovation company. Following the acquisition, under his leadership, revenue grew from $120 million to $400 million in five years.
“During his first six months as President, Steve has demonstrated the skills necessary to lead Dynasil as CEO and to fill a key role on the board,” said Peter Sulick, chairman of the board of directors. “The board is encouraged by the steps he has taken to commercialize our technology pipeline, revamp our existing products and further diversify our contract research business. We look forward to working with Steve to grow Dynasil and improve shareholder value."
“I am excited to lead Dynasil at a transformational point in the Company’s history,” Ruggieri said. “We are advancing our homeland security, biomedical, and industrial technologies toward commercialization. The strategic initiatives that we have implemented over the past several months are already beginning to yield positive results. I look forward to continuing to work closely with the board and the entire Dynasil team.”
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