MIDDLETOWN, R.I., May 27, 2016 (GLOBE NEWSWIRE) -- KVH Industries, Inc., (Nasdaq:KVHI), today announced that its board of
directors has appointed John McCarthy to serve as Interim Chief Financial Officer, effective today. Mr. McCarthy will replace Peter
Rendall, who is leaving the company to pursue other opportunities. Mr. Rendall will remain with the company for thirty days to
support the transition of his responsibilities.
John McCarthy most recently served as a partner at Ernst & Young LLP, leading the New England Financial Accounting Advisory
Services (FAAS) market segment. During his 32-year career with the firm, Mr. McCarthy held numerous leadership roles across the
Audit practice, directing global client services for large multinational companies headquartered in the United States with
operations abroad. Mr. McCarthy was a member of Ernst & Young’s Global Account Partner Group and also served for two years in the
firm’s National Accounting Group, where he focused on SEC matters and served as a technical advisor to several offices in the
region. Mr. McCarthy received a B.A. in accounting from Providence College and is a certified public accountant.
“We are pleased to welcome John McCarthy to KVH Industries as Interim CFO,” said Martin Kits van Heyningen, KVH’s chief
executive officer. “John brings decades of experience in supporting companies with global operations, as well as a distinctive
leadership capacity to manage teams and apply financial expertise to business management. We are confident that he will be a strong
asset to the company as we work through the CFO transition.”
“On behalf of the board and management team I would also like to thank Peter Rendall for his tenure at the Company. We
appreciate the dedication and focus he brought to his position and wish him the best as he pursues the next step in his career,”
continued Kits van Heyningen.
KVH is engaging an executive search firm to recruit a permanent Chief Financial Officer.
About KVH Industries, Inc.
KVH Industries is a leading provider of in-motion satellite TV and communications systems, having designed, manufactured, and
sold more than 200,000 mobile satellite antennas for applications on vessels, vehicles, and aircraft. KVH is also a leading news,
music, and entertainment content provider to many industries including maritime, retail, and leisure. Videotel, a KVH company, is a
market-leading provider of training films, computer-based training and e-Learning. KVH is based in Middletown, RI, with research,
development, and manufacturing operations in Middletown, RI, and Tinley Park, IL. The company’s global presence includes offices in
Belgium, Brazil, Cyprus, Denmark, Hong Kong, Japan, the Netherlands, Norway, Singapore, and the United Kingdom.
KVH is a registered trademark of KVH Industries, Inc.
Contact: KVH Industries, Inc. Peter Rendall 401-847-3327 prendall@kvh.com FTI Consulting Christine Mohrmann 212-850-5600
