Feb 2, 2023
New York City, New York Feb 2, 2023 (Issuewire.com) - GSE Systems Inc Board,
It is very disappointing that you have refused to take any actions based on our letters and communications in the recent months. It appears that the Board of Directors are more willing to stubbornly protect Mr. Kyle Loudermilk despite his long track record of destroying value and overwhelming dissatisfaction among employees than to represent the interest of all shareholders.
Kyle Loudermilk has a track record that is truly appalling and isn't the right person to lead GSE Systems ("GVP" or the "Company). GVP needs new leadership with demonstrated experience in selling services to energy sector, margin expansion and most importantly turnarounds. We urge the Board to do an unbiased assessment of GVP's current management and consider the following in relation to Kyle Loudermilk's performance.
In our opinion, it is in the best interests of all GVP shareholders for GVP to make an immediate leadership change to chart a new path or undertake sale of the it's two segments separately.
We hope that you will act as responsible fiduciaries and take our input to heart but make no mistake: shareholders will not tire from the task of holding Mr. Loudermilk and you responsible for our losses, nor from reminding you of your obligation to shareholders
Sincerely,
Ankur Saggar
Source :GVP Shareholders for Change
This article was originally published by IssueWire. Read the original article here.
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