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Simula Inc. Announces Departure of Chief Financial Officer

5 February 1999

Simula Inc. Announces Departure of Chief Financial Officer

    PHOENIX--Feb. 5, 1999--Simula Inc. Friday announced that its chief financial officer, Sean K. Nolen, will leave the company on Feb. 19, 1999, to assume the position of CFO at a Phoenix-based subsidiary of a Fortune 500 company.
    Nolen, who joined Simula in 1996 as vice president of finance, CFO, treasurer and director, will assist the company in ensuring a smooth transition of responsibilities to his successor.
    Donald W. Townsend, president and chief executive officer of Simula, expressed his disappointment at Nolen's impending departure. "Sean has played a significant role in charting Simula's course over the last three years," said Townsend, "and we will miss his presence on our management team. However, we understand his desire to pursue other opportunities, and we certainly wish him the very best."
    Townsend said the company will engage an executive search firm to assist in finding Nolen's replacement and that the company has already considered several candidates. It is not anticipated, however, that the new CFO will join the company prior to Nolen's departure.
    Simula is a leader in developing and commercializing protective systems and energy absorption technologies that safeguard human lives. Products include advanced occupant seating and restraint systems for commercial airline, military, and automotive applications. Additional information may be found at www.simula.com.