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UptownJ

Stinger HQ Leaving CLT

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UptownJ    1

Just thought I would let everyone know that we are lossing another HQ...

Prolly not too big of a loss but still a loss for Charlotte.

LATEST NEWS

10:21 AM EST Thursday

Stinger to move HQ, replace CEO

Stinger Systems Inc. will relocate to Massachusetts from Charlotte and is replacing its chief executive, Robert Gruder.

Stinger President Roy Cuny will take on the additional role of chief executive March 15 at the stun-gun products maker. Cuny, former chief executive of Massachusetts-based Smith & Wesson Holding Corp. (AMEX:SWB), joined Stinger last month.

Gruder, who founded the company last year, will remain as chairman.

"At this point in my career, I would like to spend more time with my family," Gruder says. "With one of my children leaving for college soon, I value the time I can spend with him while he is still with us in Charlotte."

Gruder also cited business reasons for the changes.

"This move makes good sense for Stinger as our flagship projectile stun weapon is manufactured in the Northeast and the talent pool for our type of business is very attractive there," Gruder says.

Stinger (Pink Sheets:STIY.PK) says it sells its stun-gun products to police, prison and security officers worldwide. The company claims a worldwide user base of 12,000.

The company is gearing up to produce stun guns, taking on industry leader Taser International Inc. (NASDAQ:TASR) of Arizona.

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uptownliving    299

There has been some controversy surrounding this company recently..my guess is that it won't be around for very long. mr Gruder seems to have the "golden touch" of busniess failures.

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