PLANO, TX / ACCESSWIRE / November 12, 2024 / Intrusion Inc. (NASDAQ:INTZ), a leader in cyberattack prevention solutions, today announced that James (Jim) F. Gero intends to retire from the Board of Directors effective November 20, 2024. Mr. Gero has served on Intrusion's Board of Directors since October 27, 2003, and was the Chairman of the Compensation Committee and a member of the Audit Committee.
"On behalf of the Board of Directors and Intrusion, I would like to thank Jim for his extraordinary commitment to the Company during his 21-year Board tenure," said Anthony (Tony) J. LeVecchio, Intrusion's Chairman of the Board. "Jim is our longest-serving Director, and his previous executive leadership skills have proved invaluable over the past few years as the Company navigated a unique set of complex challenges. We will miss his steadfast guidance and support, and we wish Jim the best as he begins his well-deserved retirement."
"It has been an honor and a privilege to be a member of Intrusion's Board of Directors for the past 21 years," said Mr. Gero. "I believe the future is bright for Intrusion as the Company's cybersecurity solutions and innovative strategies continue to gain track with customers. I have every confidence that Tony, the rest of the Board, and the management team are the right people to lead the Company into the future and drive growth."
Mr. Gero cited his desire to focus on other activities as the principal reason for his decision to retire from the Board of Directors. Effective upon Mr. Gero's resignation, the size of the Company's Board of Directors will be reduced from six to five until a replacement has been identified. Intrusion's Board has commenced a search to identify and evaluate qualified candidates to be appointed to the Board of Directors.
About Intrusion Inc.
Intrusion Inc. is a cybersecurity company based in Plano, Texas. The Company offers its customers access to its exclusive threat intelligence database containing the historical data, known associations, and reputational behavior of over 8.5 billion IP addresses. After years of gathering global internet intelligence and working exclusively with government entities, the Company released its first commercial product in 2021. Intrusion Shield is designed to allow businesses to incorporate a Zero Trust, reputation-based security solution into their existing infrastructure. Intrusion Shield observes traffic flow and instantly blocks known malicious or unknown connections from both entering or exiting a network to help protect against Zero-Day and ransomware attacks. Incorporating Intrusion Shield into a network can elevate an organization's overall security posture by enhancing the performance and decision-making of other solutions in its cybersecurity architecture.
Cautionary Statement Regarding Forward-Looking Information
This release may contain certain forward-looking statements, including, without limitation, our expectations for positive results from our recent sales, marketing, and strategic initiatives, which statements reflect management's expectations regarding future events and operating performance. These forward-looking statements speak only as of the date hereof and involve a number of risks and uncertainties, including the risk that our recent sales, marketing, and strategic efforts will not result in increased product awareness or sales of our Intrusion Shield. These statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including, the risk that this financing fails to provide the needed capital for the Company to execute its current business strategies, the Company does not achieve the anticipated results from its current sales, marketing, operational, and product development initiatives, as well as risks that we have detailed in the Company's most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors."
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SOURCE: Intrusion Inc.