Two New Independent Directors Named

Flight Safety Technologies, Inc. (FTSI) told ANN this week one of its four independent directors recently resigned from the company's Board of Directors. Stephen P. Tocco resigned February 19, due to the challenges of growth at his current company, and his new role as Chairman of the University of Massachusetts Board of Trustees.

In response, FTSI's board elected two new independent directors.

Wes Cummins is the Director of Capital Markets at B. Riley & Company in Los Angeles, CA where he oversees the firm's financial advisory and capital raising services to middle-market, publicly traded companies. Cummins holds a BSBA from Washington University in St. Louis, MO, with majors in Finance and Accounting.

The board also elected James A. Schwartz as an independent director. Prior to founding the New York-based Harvey Partners LLC investment management firm, Schwartz was associated with Gilder, Gagnon & Howe as a portfolio manager. Previously, he was a senior producer for NBA Entertainment where he won an Emmy Award.

Schwartz earned an MBA from Columbia University and a BA in History from Bates College.

FTSI Chairman Samuel Kovnat told ANN the addition of Mr. Cummins and Mr. Schwartz will strengthen the Board, by adding the perspective of the investment community. Kovnat also thanked Mr. Tocco for his service to the company over the past five years and expressed appreciation for his offer to continue to support FTSI in the future.

FMI: www.flysafetech.com