DroneShield Ltd (ASX:DRO, OTC:DRSHF) has announced the immediate resignation of its US chief executive officer, Matt McCrann.
McCrann joined DroneShield in 2019 and had led the US business since 2022.
DroneShield CEO Oleg Vornik said: “DroneShield thanks Matt for his contribution to the business and wishes him well for his next steps. Our US business includes talented, highly experienced personnel, with our counterdrone systems deployed with a number of tier-one US Government agencies. The US represents a very important market for DroneShield, that is anticipated to grow across both military and civilian domains, as drones continue to pose an increasing threat.”
The company has recently been scaling up its US operations, including progressing plans for a US product assembly facility, appointing a US advisory board and expanding its local team to 35 employees out of approximately 440 globally.
The news sent DRS shares spiralling 10% to be trading at $2.20 at midday.