Forward Industries Inc. announced a leadership transition under which, effective January 15, 2015, Robert Garrett, Jr. voluntarily resigned as Chief Executive Officer. Current director Michael Luetkemeyer will serve as the company's interim CEO, effective immediately. In addition, the Board of Directors has also determined to elect Terence Bernard Wise as Chairman of the company.

Mr. Luetkemeyer, has extensive executive experience in the medical device industry, Forward's large market, having served as the Chief Financial Officer of TranS1 Inc. from April 2007 through March 2010. Prior to his appointment to interim Chief Executive Officer at Forward, he worked as an independent consultant in the areas of strategic planning, financial management and infrastructure development.