Security Devices (OTCMKTS:SDEV) (CSE:SDZ) on Tuesday announced sweeping changes to its C-Suite, with the news that its president Bryan Ganz has replaced Paul Jensen at the helm as CEO.
As well as overseeing daily operations at the non-lethal defense technology company, Ganz will remain chairman of the board while Jensen, who retired at the start of April, will stay on in a part-time capacity as a director.
In response to the change at the company's top, investors sent Security Devices shares up 5.4% to $0.15 in morning trade Tuesday.
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As part of the shake-up, Dean Thrasher has also resigned as the company’s executive chairman and the board’s corporate secretary to “pursue other endeavors”. And Lisa Klein Wager, the company’s general counsel and chief legal officer, has been tapped as Thrasher’s replacement as corporate secretary on top of her existing job.
In other news, the Wakefield, Massachusetts company has awarded 333,333 shares to Ganz under a consulting agreement from last year.
Security Devices has also issued 180,000 shares to 2412457 Ontario Corp, a company controlled by its former executive chairman Dean Thrasher under another consulting pact. And another 250,000 shares have been issued to its chief lawyer Lisa Klein Wager.
Security Devices manufactures and sells less-lethal security devices and ammunition. The Wakefield, Massachusetts company’s products are used by the military, correctional services, police agencies, private security companies and individuals looking for personal security. Founded in 2005, the company operates in Canada and the US.
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