Vicon Industries, Inc. announced that on March 23, 2018, Julian A. Tiedemann resigned as a director and Chairman of the Board of the Company. On March 23, 2018, the Company's Board of Directors appointed Saagar Govil as the Chairman of the Board and Chief Executive Officer of the Company. In accordance with the New York Business Corporation Law, Saagar Govil will serve as a director until the next annual meeting of shareholders of the Company.

Saagar Govil has been the Chairman of Cemtrex since June 2014, and its Chief Executive Officer and President since December 2011. On March 23, 2018, the Company's Board of Directors appointed Aron Govil to serve as a director of the Company. Aron Govil is Cemtrex's Executive Director and has been with Cemtrex since December 2004.

In accordance with the New York Business Corporation Law, Aron Govil will serve as a director until the next annual meeting of shareholders of the Company.