Geospace announces resignation of CTO Michael Sheen

In a regulatory filing, Geospace said that on June 29, Michael J. Sheen notified the company of his intention to retire and resign from his position as Senior Vice President and Chief Technical Officer of the company, to be effective June 30, 2023. In connection with his retirement, Sheen and the company have entered into an employment termination and consulting agreement. Under the terms of the Consulting Agreement, Sheen will provide consulting services to the company at its request from time to time beginning July 1, 2023 for a period of one year, renewing automatically for subsequent one-year terms thereafter, unless either party provides written notice of its intent to terminate the Consulting Agreement at least 30 days prior to the expiration of the then current Term, Geospace said.