DAYTON, Ohio,
Nov. 1 /PRNewswire-FirstCall/ -- MTC Technologies, Inc. and
subsidiaries (Nasdaq: MTCT), a significant provider of engineering,
information technology, and other technical solutions to the Department of
Defense and national security agencies, announced today that David Gutridge,
the Company's Chief Executive Officer, has decided to retire as of
January 12,
2007, his 60th birthday.
Mr. Gutridge will continue to serve as a member of
the Company's Board of Directors until the Company's 2007 Annual Meeting of
Stockholders. Upon
Mr. Gutridge's retirement, Rajesh Soin, Chairman of the
Board and Founder of the Company, will assume the additional position of Chief
Executive Officer.
"I am proud of what our team has accomplished and have every confidence I
will be leaving MTC with a leadership team that is well positioned for future
success," said Gutridge.
Mr. Soin, commenting on the announcement, noted: "David has done an
excellent job in leading MTC during its rapid growth phase and providing
leadership to the management team. The Board and I wish him well as he moves
to the next phase of his life and thank him for his many years of service to
the Company. The entire MTC family will truly miss David and the leadership he
has provided."
Mr. Soin continued: "At the same time, I am pleased to assume the
additional role of CEO as the Company is postured very strongly in the high
growth areas of our markets and am excited with what I believe the future
holds for MTC."
MTC, through its wholly owned subsidiaries, delivers warfighter solutions
involving systems engineering, information technology, intelligence, and
program management services primarily to the Department of Defense. Cited by
Forbes as #54 of America's 200 best small businesses, by Washington Technology
as 34th in revenue growth among the "Top 100" of IT Federal Prime Contractors,
and ranked 2nd by Aviation Week & Space Technology as a "Top Performing Small
Company," MTC employs approximately 2,900 people in more than 40 locations.
The company was founded in 1984 and is headquartered in Dayton, Ohio.
For further information on MTC, visit the website at
http://www.mtctechnologies.com.