GlobeNewswire·Oct 16, 2026, 8:45 AM ET

Liberty Defense Announces New Board Member

Liberty Defense Holdings Ltd. (NASDAQ: DETX) appointed Steve Karoly to its Board of Directors effective immediately.
Steve Karoly will replace outgoing CEO Bill Frain, who is departing the company at the end of October.
Karoly brings over 30 years of experience in government, transportation, & defense sectors, currently serving as Executive Vice President of K2 Security Screening Group.
His prior roles include Acting Assistant Administrator for Requirements & Capabilities Analysis at the Transportation Security Administration (TSA), where he oversaw a $1 billion budget.
Karoly previously served as TSA's Innovation Leader & held senior executive positions with the Department of Homeland Security's Domestic Nuclear Detection Office & U.S. Customs & Border Protection.
He retired from the U.S. Navy Reserve in 2014 as a Captain after 30 years of service.
Karoly holds a bachelor's degree from the United States Merchant Marine Academy & a master's degree in Systems Engineering from Johns Hopkins University.
He stated he sees significant opportunities for Liberty's technology to expand its presence across U.S. government & broader security markets.
Liberty Defense provides AI-based detection solutions for concealed weapons using its HEXWAVE product & recently licensed HD-AIT body scanner & shoe scanner technologies.