MODEC International CEO resigns

Shashank Karve, president and CEO of MODEC International LLC, has resigned, effective July 1, 2008, but will continue to serve on the MODEC board of directors.
June 30, 2008

Offshore staff

TOKYO -- Shashank Karve, president and CEO of MODEC International LLC, has resigned, effective July 1, 2008, but will continue to serve on the MODEC board of directors.

"Shashank advised us in January of his desire to step down and we are grateful that he has helped implement a reorganization plan," says MODEC Inc. president and CEO, Kenji Yamada. "At MODEC's request, Mr. Karve agreed to stay through June 30 to assist with the reorganization and I am happy to report that the transition is working well."

06/30/2008

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