Innovative Solutions drops 9% as CEO is terminated
Shares of Innovative Solutions & Support Inc. (Nasdaq:ISSC) dipped by 9% this morning after the company announced in a federal filing that its chief executive officer has been terminated.
In a filing with the Securities and Exchange Commission, Innovative Solutions said Raymond J. Wilson was terminated, effective Sept. 8. Geoffrey S.M. Hedrick has reassumed the duties of chief executive officer.
The company offered no further details.
The Exton, Penn.-based electronics maker is at $6.35, down $0.66 from Tuesday’s close. The stock has traded as low as $5.02 and as high as $22.20 during the past year.
For detailed price information and news stories on Innovative Solutions & Support, click ISSC.
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