BRIEF-Photon Control says CEO Christopher Weston steps down

Mon Jun 27, 2016 7:38am EDT
 
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June 27 (Reuters) - Photon Control Inc

* Christopher Weston stepped down as president and ceo and has resigned from board of photon control

* Michael Goldstein, deputy chairman of board, has been appointed chairman and acting CEO

* David Dueck has stepped down as chairman with immediate effect

* On June 3, 2016, Weston and Gerald Adams, CFO, made a $4.5 million transfer of company funds to photon control research and development ltd

* Transfer was made without required approval by board of directors of company

* The board confirmed non-approval of transfer and have requested immediate repayment of unauthorized transfer

* Photon control provides corporate update Source text for Eikon: Further company coverage: