Wave Systems Names William Solms Acting CEO - Quick Facts

(RTTNews) - Wave Systems Corp. (WAVX) reported that William Solms, Vice President of North American Sales, has been appointed by the board as Acting Chief Executive, replacing Steven Sprague.

Solms would be accountable for ensuring a smooth transition and leading Wave's executive team. A graduate of West Point, Solms served a distinguished career as an active duty Army officer, capping his 20+ year military career in the Pentagon as a member of the Joint Staff.

Sprague has indicated that he would continue to serve Wave as a board member. In addition, the board would alter its prior announced search for a Chief Operating Officer into a search for a permanent CEO.