DroneShield is addressing recent concerns surrounding share sales by key executives. The company has appointed independent directors Simone Haslinger and Richard Joffe to lead a thorough review into whether its continuous disclosure and securities trading policies were adhered to during recent transactions. These transactions involved approximately $70 million in stock sales by chief executive Oleg Vornik, the chairman, and another director.
Chairman Peter James emphasised the company’s dedication to openness and ongoing advancement amidst its expansion. He stated that the review reflects DroneShield’s commitment to maintaining high standards of corporate governance. DroneShield specialises in developing counter-drone technology, offering solutions for both military and civilian applications. The company’s systems are designed to detect, identify, and neutralise unmanned aerial vehicles.
In addition to the review, DroneShield announced the appointment of Tom Branstetter, currently vice president of sales and business development, as the interim head of its US operations. This appointment follows the resignation of Matt McCrann, the previous US chief, last week. The change in US leadership comes as DroneShield seeks to further capitalise on opportunities in the North American market.
Despite the internal reviews and leadership changes, CEO Oleg Vornik has reassured investors about the company’s overall health and prospects. Vornik stated that the core business remains robust, with continued record revenues, global expansion, and ongoing investment in technological advancements to meet evolving customer demands in the counter-drone sector.
