On March 30, 2018, the Board of Directors of Aura Systems, Inc. removed Dr. Timothy B. O'Brien and Mr. Timothy O'Toole as the company's interim Chief Executive Officer and interim Chief Financial Officer, respectively, effective immediately. On March 30, 2018, the Board appointed Melvin Gagerman to serve as the company's Chief Executive Officer, Chief Financial Officer and Secretary on an interim basis, with effect from March 30, 2018, during the company's search for Mr. Gagerman's successors. Mr. Gagerman intends to retire when the company's Board of Directors appoints new management.

Mr. Gagerman is a CPA and was a director of the company since the company emerged from Chapter 11 proceedings on January 31, 2006 until January 11, 2018. Mr. Gagerman also served as the company's Chief Executive Officer and Chief Financial Officer through March 28, 2018.