EXTON, PA — Innovative Solutions & Support, Inc., doing business as Innovative Aerosystems (NASDAQ: ISSC), recently appointed Richard Silfen as an independent director, effective immediately, expanding the board to seven members and adding deep M&A and capital markets expertise.
Silfen is general counsel of Hildred Capital Management LLC, a New York–based, healthcare-focused private equity firm. He previously served as partner and Co-Chair of Mergers & Acquisitions at Duane Morris LLP from June 2015 to June 2025, advising private equity–backed and public companies on acquisitions, divestitures, control transactions, and capital formation. He holds a J.D. from the University of Alabama School of Law and a B.A. in Physics from Baylor University.
“Richard is an accomplished legal advisor with a long track record of advising companies and their boards in capital markets and other capital-raising transactions, mergers and acquisitions and control transactions, and we welcome him to the Board,” said Glen Bressner, Chairman of the Board. “His appointment demonstrates IA’s commitment to ensuring our board is composed of directors with relevant skills and expertise to oversee the execution of IA’s strategy, and we are confident he will be a valuable addition to the Board.”
Dr. Shahram Askarpour, the Company’s Chief Executive Officer said, “Mr. Silfen joins us at an exciting time as we continue to execute on long-term strategy, and all of us on the Board are looking forward to working with him.”
Silfen will stand for election at the company’s next annual meeting of shareholders and serve until his successor is duly elected and qualified or until his earlier death, disqualification, resignation, or removal. The appointment signals Innovative Aerosystems’ continued focus on governance depth and execution as it pursues its long-term strategy.
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