Karve Steps Down as MODEC International President and CEO

MODEC, Inc. announced that Shashank Karve, President & CEO of MODEC International LLC, will resign effective July 1, 2008. 

“Shashank advised us in January of his desire to step down and we are grateful that he has helped implement a reorganization plan. At MODEC’s request, Mr. Karve agreed to stay through June 30th to assist with the reorganization and I am happy to report that the transition is working well,” said MODEC President and CEO Kenji Yamada.
 
 “While we will miss his presence on a daily basis, I am pleased that he will continue to serve on the Board of Directors of MODEC, Inc. and thereby continue to provide guidance to the company,” added Yamada.
 
Under Karve’s leadership, MODEC International grew substantially in the US and Singapore and established operating offices in Mexico, Brazil and West Africa.
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