COLUMBIA, Md., Jan. 30 /PRNewswire/ -- GSE Systems, Inc.
(Nasdaq-NNM: GSES), a leading global provider of integrated enterprise
software and information solutions to the energy, process and manufacturing
industries, today announced the promotion of Mr. Christopher M. Carnavos from
senior executive vice president to president. In this capacity, Mr. Carnavos
is responsible for all operations of the Company.
Mr. Carnavos replaces Mr. Rolf Falkenberg as president of the Company
effective January 29. Mr. Falkenberg will continue to serve the Company as
Chairman of GSE Systems International, Ltd., reporting to Mr. Carnavos.
According to Mr. Jerome I. Feldman, Chairman of GSE System's Board of
Directors, "During the period of time that he has been with the Company, Mr.
Carnavos has displayed exemplary leadership and management capabilities and we
are most pleased to make this appointment."
Mr. Carnavos joined GSE in January 1997 as a senior vice president and
previously held a variety of senior management positions at companies such as
Johnson-Yokogawa, ABB, Bailey Controls, and Digital Equipment Corporation. Mr.
Carnavos will continue to report to Mr. Feldman.
GSE Systems designs, develops and delivers business and technology
solutions by applying process control, data acquisition, simulation,
client/server and business software, systems and services to the energy,
process and manufacturing industries worldwide.
The Company's products are used in over 700 applications, representing
over 250 customers in 30 countries, in the following industries: specialty
chemical, food & beverage, petroleum refining, oil & gas, pharmaceutical,
fossil and nuclear power generation, metals, electrical distribution and water
treatment. GSE Systems is headquartered in Columbia, Maryland with offices in
Augusta, GA, Baton Rouge, LA, Houston, TX, Phoenix, AZ, Pittsburgh, PA, Salt
Lake City, UT and Shelby, NC, and its global operations include offices in
Belgium, Japan, Korea, Singapore, Sweden, and Taiwan.
This news release contains forward-looking statements that involve risks
and uncertainties. The actual future results of GSE Systems may differ
materially due to a number of factors, including but not limited to delays in
introduction of products or enhancements, size and timing of individual
orders, rapid technological changes, market acceptance of new products and
competition. These and other factors are more fully discussed in the Company's
annual report on Form 10-K.
To receive additional information on GSE Systems, Inc., via fax at no
charge, dial 1-800-PRO-INFO and enter ticker symbol GSES.
SOURCE GSE Systems, Inc.
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Related links:
http://www.gses.com
CONTACT:
Chris Carnavos, President of GSE Systems,
410-312-3600; Doug DeLieto, general, Marty Gitlin, media,
212-661-8030, or Julie Creed, analysts, 312-266-7800, all of The
Financial Relations Board
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