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Avcorp Industries Inc. (Avcorp or Avcorp Group) has announced the resignation of Ray Castelli from the board of directors of the company.
When Castelli joined the Avcorp board of directors in July of 2010, he brought with him a significant level of practical expertise in Canadian Defence procurement practice, strategic planning, and manufacturing as Avcorp continued down its strategic path to pursue defence contracts for its business.
Castelli’s decision is based on the recent award of a large multi-year contract to the company he manages – Weatherhaven – and he has decided to focus his efforts there.
“The demands on my time have become particularly acute at this time,” said Castelli, adding “but I know that the company is already well-served by an excellent management team and a very experienced board.”
The Avcorp board wishes to thank Castelli for his insights and guidance, which have been invaluable to the company, and wishes him continued success in all his endeavours.
To fill the vacancy created by the resignation of Castelli and to fulfill the residency requirements, Ed Merlo, the company’s chief financial officer, has been appointed to the board of directors effective immediately. Merlo will hold office until the corporation’s 2017 annual general meeting whereupon the corporation’s nominating committee will determine nominees for the board of directors for the ensuing year.