Full Press Release Details
RESULTS OF ANNUAL SHAREHOLDERS MEETING
Houston, Texas, December 14, 2006 SPACEHAB, Incorporated (NASDAQ: SPAB), a
leading provider of commercial space services, announced today the outcome of
the Company s shareholder meeting held on December 12, 2006.
The shareholders of the Company s common stock elected the following
persons to serve as members of the Board of Directors in 2007: Dr. Edward E.
David, Jr., Myron J. Goins, Michael E. Kearney, Roscoe M. Moore, III, Thomas B.
Pickens, III, and Barry A. Williamson. Dr. Stefan F. Graul was elected Director
by the shareholders of SPACEHAB s preferred
stock. SPACEHAB shareholders also ratified
the appointment of Grant Thornton as auditors of the Company for 2007.
The Board of Directors elected Barry A. Williamson as Chairman,
replacing Dr. Shelley A. Harrison who announced in October his decision to not
stand for re-election. An attorney in Austin, Texas, Williamson has served as a
member of the SPACEHAB Board since 2003, and he was Chairman of the Audit
Committee in 2006. He is a Director of
Wilson Holdings, Inc. and Tejas Incorporated, and he is an Executive Board
Member of Austin Smiles. Formerly, Williamson served on the Texas Railroad
After over a decade of service to SPACEHAB, President and Chief
Executive Officer Michael E. Kearney announced his decision to retire from the
Company effective December 31, 2006. Kearney, who joined SPACEHAB in 1994, became
President and Chief Operating Officer in 2000 and later Chief Executive Officer
Mike has had a distinguished and notable career at SPACEHAB, taking
the Company from a small aerospace contractor to a true pioneer of commercial
space access services, said Williamson. On behalf of the Board, I thank Mike
for his steadfast leadership, and I appreciate his dedication to the SPACEHAB
team and our growing customer base.
Thomas B. Pickens, III will be the new President and Chief Executive
Officer beginning January 1, 2007. Pickens
brings 23 years of entrepreneurial experience with an excellent track record
for creating and unleashing value for many companies over the years. He has
served as a member of the SPACEHAB Board since 2003 and has been the Chairman
of the Market Opportunity and Mergers and Acquisitions Committee since March 2006.
He is very enthusiastic about the many opportunities that have been identified
for SPACEHAB, recognizing its unique heritage in space. This day marks a new
era of customer service and entrepreneurship for SPACEHAB and Astrotech, and I
am very excited for the Company and its future, stated Pickens.
About SPACEHAB, Incorporated
Incorporated in 1984,
SPACEHAB (www.spacehab.com) is a leading provider of commercial space
products and services to NASA, international space agencies, Department of
Defense, and private customers
worldwide. The Company offers end-to-end space access solutions, space systems
development, mission integration and pre-launch processing facilities and
services, and large-scale government program support services. From securing a
spaceflight opportunity and facilitating the integration of spacecraft and
payloads for launch, to developing human habitats, supplying the International
Space Station, and coordinating the transport and operation of cargo and
experiments to and from orbit, SPACEHAB clearly demonstrates that We Mean
statements in this document may contain forward-looking statements that are
made pursuant to the Safe Harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements are subject to
risks, trends, and uncertainties that could cause actual results to be
materially different from the forward-looking statement. These factors include,
but are not limited to, continued government support and funding for key space
programs, product performance and market acceptance of products and services,
as well as other risk factors and business considerations described in the
company s Securities & Exchange Commission filings including the annual
report on Form 10-K. Any forward-looking statements in this document should be
evaluated in light of these important risk factors. The Company assumes no
obligation to update these forward-looking statements.
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