VIRGINIA BEACH, Va. (March 31, 2015).– ADS, Inc., a leading provider of value-added logistics and supply chain solutions, recently announced an executive management change designed to strengthen the company’s leadership team. Luke Hillier, Executive Chairman of the board of directors, recently named current Chief Financial Officer (CFO) and Executive Vice President, Karan Rai, President of ADS. Rai joined ADS August 2012 as its Director of International and Strategic Business Development. He also served as the Vice President of Corporate Development before being promoted to CFO, March 2013. “This transition represents the entire board’s view that Karan has and will continue to add value to our organization both as president and continuing as CFO,” said Hillier. “In his expanded role as president, the board and I will be looking for Karan to increase his level of internal and external engagement. We want him to help us evaluate long-term business development opportunities, identify new markets for our product and service offerings and strengthen his relationships with our top customers and vendors,” Hillier added. During his tenure at ADS, Rai has brought innovation and strategic focus to his role as CFO. In so doing, he has made a significant impact on the company’s capital structure and investor relations. Prior to joining ADS, Rai was a vice president at JPMorgan’s Investment Bank where he spent seven years covering defense and aerospace companies in the leverage/acquisition finance group. Rai holds an MBA from Yale University’s School of Management.
“I look forward to working with Jason and the rest of my teammates to make ADS the strongest, best-positioned firm to tackle the challenges and leverage the opportunities ahead”
– Karan Rai, President and CFO, ADS
“Karan and I have been working together daily for the last two years,” said Jason Wallace, ADS CEO. “I am confident that our continued partnership will make ADS a stronger, healthier company in the years to come. He is the right person to help develop and execute our company’s long-term strategy, as well as keep our financial house in order.” Rai said, “I am excited about the opportunity and am grateful for the trust the board has placed in me. I look forward to working with Jason and the rest of my teammates to make ADS the strongest, best-positioned firm to tackle the challenges and leverage the opportunities ahead.” Rai will continue to serve as the Company’s Chief Financial Officer supported by our capable and very experienced Finance team led by John Dunn, our Vice President of Finance.
MEDIA CONTACT: Ellen Bock, Corporate Communication Specialist (757) 416-7566, email@example.com
ADS Inc. is a leading solutions provider that proudly serves all branches of the U.S. Military, federal, state and local government organization, law enforcement, first responders, foreign governments and the defense industry. The company is focused on solving customers’ challenges through the largest product and service selection, the broadest array of procurement and contract options, world-class support and logistics solutions and legendary customer service. ADS actively seeks out customers’ equipment and logistics challenges to deliver innovative and cost-effective solutions that help them complete their mission and maintain readiness. ADS equipment and support solutions include C4ISR, Combat Support, Medical, Operational Clothing and Individual Equipment (OCIE), Weapons and Optics as well as Special Missions, including CWMD, CBRNe EOD, First Responders and Maritime Operations. – Our Purpose, Your Mission.