Adacel Technologies Limited announced that it has accepted the resignation of its Chief Executive Officer, Mr. Gary Pearson, effective 31 March 2019. Mr. Pearson, Chief Executive Officer since October 2015, has worked at the Company for almost 19 years. Until a permanent replacement is announced, an executive committee consisting of Mr. Daniel Verret, Chief Financial Officer, Mr. Kevin Pickett, Vice President of Operations, and Mr. Brian Hennessey, Vice President of Business Development, will lead the Company.

The executive committee, working with the Board, has developed a comprehensive plan to ensure a seamless transition. Mr. Peter Landos has indicated to the Board that he will be stepping down as Non-Executive Chairman, effective 31 March 2019, to allow him to spend more time focusing on his primary role as the Chief Operating Officer of the Thorney Investment Group. Mr. Landos intends to remain on the Board as a Non-Executive Director.

Mr. Michael McConnell has been appointed Non-Executive Chairman. Mr. McConnell was appointed to the Board of Directors in May 2017, and will work closely with the Company's management team from his home base in Los Angeles, USA.