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GSE Systems Names Steven Freel Chief Operating Officer


By: 
Date: December 21 2012

Sykesville, Md. – December 21, 2012 – GSE Systems, Inc. (NYSE MKT: GVP), a global energy services solutions provider, has appointed Steven Freel to Chief Operating Officer, a previously unfilled position, effective January 1, 2013. Freel will be responsible for all U.S. operations except for training, which remains under the direction of Phil Polefrone.

Freel has been with GSE for 16 years, most recently as Chief Technology Officer. He holds a B.S. in Mechanical Engineering from Penn State University and an MBA with a focus on business strategy from the Smith School of Business at the University of Maryland.

“We are deploying a number of our seasoned executives into new roles allowing them to become truly global assets for GSE,” said Jim Eberle, Chief Executive Officer of GSE. “They will work in a spirit of collaboration to develop, propose, and implement energy services solutions that will allow us take advantage of significant growth opportunities in multiple regions of the world.”

In addition to Mr. Freel’s appointment, Graham Wren will assume expanded responsibilities with the new title Managing Director of GSE’s operations in Europe. Jean-Marc Holt has been named Senior Vice President of Global Business Development, where he will focus on South America and Africa. Thomas Carlsson replaces Holt as Managing Director of GSE Power Systems AB in Sweden. These changes also become effective January 1, 2013.

“These changes put GSE in the best possible position to succeed globally,” continued Mr. Eberle. “To that end, GSE President Chin-Our Jerry Jen has taken a special assignment in Asia focusing on maximizing our Chinese joint venture GSE-UNIS and developing strategies for South Korea, Malaysia and Vietnam. Together these changes give us experienced, senior leadership in areas that we’ve targeted for growth.”

About GSE Systems, Inc.

GSE Systems, Inc., provides a wide range of simulation and training solutions to the global energy (nuclear and non-nuclear) industry and is the world leader in nuclear simulation. The company has over four decades of experience, more than 1,100 installations, and hundreds of customers in over 50 countries spanning the globe. Their software, hardware and integrated training solutions leverage proven technologies to deliver real-world business advantages to the energy, process, manufacturing and government sectors worldwide. GSE Systems is headquartered in Sykesville (Baltimore), Maryland, with offices in St. Marys, Georgia; Madison, New Jersey; Cary, North Carolina; Chennai, India; Nyköping, Sweden; Stockton-on-Tees, UK; Glasgow, UK; and Beijing, China. Information about GSE Systems is available via the Internet at www.gses.com.

Forward-Looking Statements

We make statements in this press release that are considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. These statements reflect our current expectations concerning future events and results. We use words such as “expect,” “intend,” “believe,” “may,” “will,” “should,” “could,” “anticipates,” and similar expressions to identify forward-looking statements, but their absence does not mean a statement is not forward-looking. These statements are not guarantees of our future performance and are subject to risks, uncertainties, and other important factors that could cause our actual performance or achievements to be materially different from those we project. For a full discussion of these risks, uncertainties, and factors, we encourage you to read our documents on file with the Securities and Exchange Commission, including those set forth in our periodic reports under the forward-looking statements and risk factors sections. We do not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.



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