Directors of Advanced Photonix Inc., a Camarillo producer of photodetector devices and other electronic products, have elected a new chairman and created a new finance committee to chart future funding strategies.
James W. Ward, who has been the firm's president and chief executive since May, has been given the additional title of chairman.
He replaces Bernhardt Denmark, who will remain a board member.
Advanced also announced that James A. Gordon, who has been a director since 1992, will head the new finance panel. The committee will seek additional financing, including possible partners and investors.
In a statement, Ward called Gordon "an excellent choice to spearhead our continuing effort." He said the two executives "will work closely to ensure that the needs of the company and our shareholders are met."
Gordon is president of Gordon Management Inc., general partner of an investment limited partnership, Edgewater Private Equity Fund L.P.
Advanced Photonix products include components of systems that measure aircraft fuel levels.
The company is also developing high-definition scanners for diagnosing tumors, neurological disorders and other problems by doing cross-section imaging of a patient's body.