FAIRFAX, Va., Feb. 16, 2012 /PRNewswire/ -- Innolog Holdings Corp. (OTCBB: INHC), a holding company with subsidiaries providing leading edge, process oriented thinking to government customers by providing world-class logistics solutions to the U.S. military, civilian agencies as well as state and local governments, today announced the appointment of Richard Stewart as President of Innovative Logistics Techniques, Inc. (INNOLOG) and Eric Wagner as Chief Financial Officer of Innolog Holdings. 

Current President and Chief Executive Officer, Verle Hammond has retired from Innovative Logistics Techniques, Inc.  Mr. Hammond will remain as an advisor to the company and remain on the Board of Directors.

William P. Danielczyk, Executive Chairman of Innolog Holdings speaking on behalf of the Board of Directors stated, "We thank Verle for his many years of service to Innolog.  He is not only the Founder, President and CEO of INNOLOG, leading the Company on a daily basis, but has also been recognized as a leader in the Logistics field for many years.  We are extremely pleased that Verle has decided to continue with us in an advisory role, and will look forward to his continued contributions as a Board member of both INNOLOG and Innolog Holdings." 

INNOLOG Founder, Verle Hammond added, "I have always believed in our ability to recapture the momentum that resulted in INNOLOG achieving an average of $40,000,000 in annual revenues 6 to 7 years after start-up. This change will enable me to focus exclusively on that objective."

William Danielczyk also commented, "We are also pleased to finalize the appointments of Richard Stewart as President of Innovative Logistics Techniques, Inc.  and Eric Wagner as Chief Financial Officer of Innolog Holdings Corporation.  The Board has been pleased with the growth and development of both Rich and Eric in their respective roles.  They have provided the necessary day-to-day leadership of INNOLOG having worked with Verle Hammond during the past two and half years to collectively lead the INNOLOG management team on a daily basis.  The Board is excited about the Company's prospects moving forward under their leadership."

About Us

Innolog Holdings Corporation was formed in March 2009 as a holding company for the purpose of acquiring businesses that provide services primarily to federal government entities.  Our subsidiary, Innovative Logistics Techniques, Inc. (www.innolog.com), was founded in 1989 to help the Department of Defense address complex logistics business problems. The company is a federal government contractor that brings world-class solutions and leading edge process oriented thinking to the U.S. military, civilian agencies and state and local governments to provide solutions to complex logistics problems.

Additional information is available at www.innologholdings.com.

Statements in this press release that are not statements of historical or current fact, such as the expectation of future revenue growth and profitability, constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause Innolog's actual results to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Factors that could cause Innolog's results to be materially different from the forward-looking statements include whether Innolog will be able to find financing when and as it needs it and whether Innolog's revenues will eventually exceed its expenses. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in Innolog's reports filed with the Securities and Exchange Commission, which are available for review at http://www.sec.gov/.

Contact:
Investor Relations
Andrew Barwicki
516-662-9461 / andrew@barwicki.com

 

SOURCE Innolog Holdings Corp.

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