DRONE AVIATION HOLDI (OTCMKTS:DRNE) a producer firm of innovative tethered drones and aerostats disclosed that Jay H. Nussbaum is the new Chairman of company’s Board. He will take place of Major General Wayne P. Jackson, who will now be the Director of the company.
Dr. Phillip Frost, the Chairman of company’s Strategic Advisory Board was the one who recommended Mr. Nussbaum to the Board. Nussbaum is also one of the main investors in the recently ended Series G Preferred Stock financing amounting to $1 million. DRONE AVIATION confirmed that Nussbaum will be included in the Strategic Advisory Board along with Steve Rubin and Dr. Frost.
The expert comments
The Chairman Dr. Frost stated that he is delighted that Mr. Nussbaum gave his acceptance for the position of Chairman of DRONE AVIATION’s Board. He complements the position as he can utilize his talents and give invaluable guidance to team while helping in expansion of future and supporting the future growth.
Mr. Nussbaum also has strong alliances in the industry that he developed during the course of his successful and rewarding career. Dr. Frost has known him from a long time as both of them worked together on Northrop Grumman’s board. Dr. Frost further said that he has complete confidence in Mr. Nussbaum’s ability to guide company through the many intricacies of the government, military and commercial sectors.
Nussbaum possess extensive experience working in senior positions in commercial and government management and sales. He had been Executive VP with Oracle Service Industries where he looked after financial services, utilities, government, communications, education and health operations.
In last trading session, the stock price of DRONE AVIATION HOLDI (OTCMKTS:DRNE) declined more than 7% to close the trading session at $0.315. The decline came at a share volume of 942,530 compared to average share volume of 786,163.