BINGEN, Wash., July 31 /PRNewswire/ -- Insitu, Inc., a pioneer developer of long-range, autonomous unmanned aircraft systems (UAS) and advanced tools for intelligence, surveillance, and reconnaissance (ISR), announced today they have hired Mr. Mark R. Kent to fill the role of Chief Financial Officer (CFO). In this position, he will be responsible for directing all aspects of the company's financial management.
"We are very pleased that Mark Kent has joined our team," said Steven Sliwa , Insitu CEO. "His considerable financial management experience in both emerging technology firms and public companies will be a huge advantage to Insitu as we look to execute our monetary vision."
Kent added, "I am delighted to join this very exciting company. Insitu has achieved remarkable early success in the rapidly growing UAS market, and is positioned for an extraordinary future." Added Kent, "I very much look forward to my role in helping the Insitu stakeholders realize their financial potential."
Insitu's unmanned aircraft systems have achieved more than 50,000 hours of operational experience since 2004.
Mr. Kent has more than 25 years of experience as a finance professional
with a strong track record of financial leadership in public and private
companies. Before joining Insitu, Kent served as the CFO of Sigma Designs
(Nasdaq: SIGM), a digital media processor semiconductor company. In his brief
stint at Sigma, he successfully completed significant financial restatements
related to discounted stock options, allowing the company to regain compliance
to SEC and NASDAQ filing and listing requirements. From September 2004 to May
2006 , Mr. Kent was CFO of Transmeta, a developer and licensor of innovative
computing, microprocessor and semiconductor technologies and related
intellectual property. At Transmeta, Mr. Kent played an instrumental role in
successfully shifting the company's business and led the company's efforts to
become compliant with Sarbanes-Oxley. Prior to Transmeta, Mr. Kent was
affiliated with Oak Investment Partners, a venture capital firm, from February
2001 to January 2004 as CFO or CFO-in-residence for several Oak portfolio
companies, including Talisma Corporation, a customer integration management
software company; Knowledge Networks, an information research company; and
Securant Technologies, a security software company. From April 1999 to January
2001 , Mr. Kent served as CFO of CrossWorlds Software, a business integration
software company, and led CrossWorlds' successful initial public offering in
June 2000 . From December 1994 to March 1999 , Mr. Kent worked at LSI Logic, a
supplier of custom high-performance semiconductors, most recently as
Treasurer, in which role he was integrally involved in managing several public
and private financings totaling approximately
About Insitu
Insitu, located in Bingen, Washington, designs, develops, and manufactures unmanned aircraft systems (UAS) for commercial and military applications. Insitu introduced the first unmanned aircraft (UA) to cross the Atlantic Ocean and has partnered with Boeing to develop ScanEagle(R) and Fugro Airborne Surveys to develop GeoRanger(TM). For more information about the company, visit www.insitu.com.
For More Information Contact: Chesua Patte Public Relations [email protected]SOURCE Insitu, Inc.
