Veltex Corporation announced that Andreas Mauritzson has been appointed by the Veltex Board of Directors as President and Chief Executive Officer, effective immediately. Mr. Mauritzson will remain on the Board of Directors, where he currently holds a seat, and is Veltex's individual shareholder. Mr. Mauritzson will replace James "Jim" Jacob who has resigned from his position as President and CEO and from his Board seat due to personal reasons.

This will reduce the number of Board members to five. Veltex wishes Mr. Jacob all the best going forward and thanks him for his time over the past several years of service. He is currently the Director of European Sales for Jet Transactions Group, a full service, business aviation sales and consulting company catering to private, high net worth and corporate clients globally.