Coda Octopus Adds New Member to Board of Directors

Coda Octopus has elected J. Charles Plumb, captain, USNR (Ret.) to its board of directors.

Captain J. Charles Plumb is a retired U.S. Navy fighter pilot and former Vietnam Prisoner of War. He retired from the United States Navy after 28 years of service, and his military honors include two Purple Hearts, the Legion of Merit, the Silver Star, the Bronze Star, and the P.O.W. Medal.

Since his retirement, Captain Plumb has been a motivational speaker, consultant, and executive coach. His clients include the U.S. Navy, NASA, General Motors, FedEx, Hilton, Aflac, and BMW.

“We are very pleased and honored to add another exceptional leader to our board. Charlie’s integrity and ‘can do against all odds,’ results-driven focus aligns well with the board we have put in place, to help steer the company at this pivotal juncture and fully realize the opportunity be fore us,” said Annmarie Gayle, CODA’s chairman and CEO. “His close ties to the U.S. Defense establishment will benefit the strategic course of both operating units within the group. I look forward to Charlie’s contributions and direction to help us achieve our strategic goals, including increasing shareholders value.”

“I am excited to be joining Coda Octopus’ board of directors. The group’s long-standing reputation for executing state-of-the-art, top-quality real-time 3D sonar technology, defense products, and engineering services for defense primes, is well known. We have a great opportunity to both create value for our shareholders, as well as to provide the company’s continually advancing slate of state-of-the-art equipment to our country’s and Allies’ forces,” said Captain Plumb.

Captain Plumb earned a B.S. in electrical engineering from the U.S. Naval Academy at Annapolis.

As a result of his appointment to the board, Captain Plumb will receive compensation of a quarterly fee of $10,000. In addition, he was awarded 6,424 shares of common stock of the company, which will vest on the first anniversary of his election.