Forward Industries Appoints Terence Wise As CEO, Michael Matte As CFO

(RTTNews) - Forward Industries, Inc. (FORD) announced that it has appointed Terence Wise as Chief Executive Officer or CEO and Michael Matte as Chief Financial Officer or CFO of the company, following the expiration of Michael Luetkemeyer's term as Interim CEO. Wise and Matte will assume their appointments with immediate effect.

In addition, the Board of Directors announced the appointment of Scott Fine as Lead Director of the Board and Sharon Hrynkow as a new director of the Board.

The company said Wise presently serves as Forward's Chairman of the Board of Directors.

Commenting on Matte, the company said he has extensive experience in SEC accounting and reporting procedures, having served as the CFO to three NASDAQ-listed companies. Prior to Matte's appointment as CFO at Forward, he served as the CFO and Chief Accounting Officer of Aspen Group, Inc., an online distance-learning education service in the United States, until March 2014.

Matte currently serves on the Board of Directors of Coqui Radio Pharmaceutical, a position he has held since June 2013, and previously served on the Board of Directors of Iris International from January 2004 until April 2012.