December 23, 2014-- Comtech Telecommunications Corp. (NASDAQ:CMTL)
announced today that its Board of Directors has named Dr. Stanton D.
Sloane as Chief Executive Officer and President of Comtech. Dr. Sloane
will assume these positions no later than February 1, 2015 and will
succeed Fred Kornberg as CEO and President, who will continue to serve
the company during the next year as Executive Chairman of the Board of
Directors.
In commenting on the announcement, Mr. Kornberg said, “I am delighted
that Dr. Sloane will be assuming these leadership positions. The Board
and I consider it extremely fortunate that we can pass the reins of the
Company into such capable hands at this important stage of the Company’s
development. Having been a director of Comtech since January 2012 and a
long-time and seasoned senior executive with deep knowledge of the
technology sector, Stan is well-qualified to lead Comtech to greater
growth while continuing to build long-term value for our shareholders.”
Dr. Sloane commented, “Under Fred’s steady and excellent leadership over
many years, Comtech has grown significantly – both organically and
through thoughtful and well executed acquisitions. I am privileged to
take on the roles of CEO and President of this great company and look
forward to continue working with the Board, Fred and other members of
senior management.”
Dr. Sloane served as President and CEO and a member of the board of
directors of Decision Sciences International Corporation from August
2011 through December 2014, a privately-held advanced security and
detection systems technology company. Previously, he served as President
and CEO and a member of the board of directors of SRA International,
Inc. (“SRA”), an information solutions company which, at the time, was a
$1.8 billion New York Stock Exchange listed company. He served as
President and CEO of SRA from April 2007 through July 2011, during which
time he helped lead the sale of SRA to a private equity firm. During his
four-year leadership tenure, SRA grew significantly. Prior to joining
SRA, he was Executive Vice President of Lockheed Martin’s Integrated
Systems & Solutions (a division with $5 billion in revenue and 14,000
persons under his direction) from June 2004 until April 2007. He began
his business career with General Electric Aerospace in 1984 and
progressed through engineering, program management, and business
development assignments in a variety of GE Aerospace and subsequently
Lockheed Martin businesses. He holds a Bachelor of Science degree in
Professional Studies (Aeronautics) from Barry University, a Master of
Arts degree in Human Resources Management from Pepperdine University,
and a Doctor of Management degree from the Weatherhead Business School
at Case Western Reserve University.
Comtech Telecommunications Corp. designs, develops, produces and markets
innovative products, systems and services for advanced communications
solutions. The Company believes many of its solutions play a vital role
in providing or enhancing communication capabilities when terrestrial
communications infrastructure is unavailable, inefficient or too
expensive. The Company conducts business through three complementary
segments: telecommunications transmission, RF microwave amplifiers and
mobile data communications. The Company sells products to a diverse
customer base in the global commercial and government communications
markets. The Company believes it is a leader in most of the market
segments that it serves.
Certain information in this press release contains statements that are
forward-looking in nature and involve certain significant risks and
uncertainties. Actual results could differ materially from such
forward-looking information. The Company's Securities and Exchange
Commission filings identify many such risks and uncertainties. Any
forward-looking information in this press release is qualified in its
entirety by the risks and uncertainties described in such Securities and
Exchange Commission filings.
PCMTL
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