MELVILLE, NY – (BUSINESS WIRE) – October 4, 2021–
October 4, 2021– Comtech Telecommunications Corp. (NASDAQ: CMTL), one of the world’s leading providers of next-generation 911 emergency systems and secure wireless communications technologies, today announced that its President and Chief Operating Officer, Michael Porcelain, will become CEO, succeeding Fred Kornberg, by the end of the 2021 calendar. Mr. Porcelain will also continue as Chairman of Comtech and join its board of directors. It is intended that Mr. Kornberg will become an advisor to the Company on technology matters and continue as a director and non-executive chairman of the board.
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Porcelain Michael (Photo: Business Wire)
As the company’s senior technology advisor, Mr. Kornberg would assist in the leadership transition and provide guidance to the management team based on his deep technical expertise.
This change completes the succession planning process for the CEO of the Company initiated by the Board of Directors with the appointment of Mr. Porcelain as Chief Operating Officer in 2018 and President in 2020. Mr. Porcelain previously served as the Company’s Chief Financial Officer for over 12 years and, prior to that, was Vice President of Finance and Internal Audit of Comtech from 2002 to 2006. Prior to joining Comtech, he was Director of corporate profit and business planning for Symbol Technologies (which was later acquired by Motorola) and was also a director in the Transaction Advisory Services Group of PricewaterhouseCoopers, where he specialized in the provision of consulting services. advice to large and small technology companies.
The Board of Directors said, “We would like to thank Fred for his exceptional leadership, countless contributions and unwavering commitment to Comtech throughout his distinguished career. When Fred first assumed the role of CEO of Comtech, the company had less than $ 20.0 million in revenue and around $ 1.0 million in net income. Today, Comtech is a global leader in its markets, providing innovative solutions to support critical communication systems, and has more than 2,000 employees worldwide. As we look to the next chapter in Comtech’s history, we want to express our enthusiastic confidence in the future of the company under Mike’s leadership.
“Mike has been instrumental in the development and execution of our business strategies, directing our day-to-day operations and creating substantial shareholder value in all facets of the Company. Over the past few years, Mike has led the expansion of our next-generation 911 and satellite earth station product lines, including transformative acquisitions of Solacom Technologies Inc., a leading 911 call handling software solution. , CGC Technology Limited, a leading supplier of low Earth orbit (“LEO”) satellite tracking antennas, and UHP Networks, a leading supplier of disruptive satellite ground station technologies. In fiscal 2021, he oversaw the company’s efforts to secure more than $ 200 million in next-generation 911 contracts as well as the award of a multi-year strategic contract to customize our broadband satellite technology from new generation for use with the thousands of LEO satellites to be launched over the next few years. Mike is highly regarded for his exceptional management skills, technical acumen and understanding of our business and our markets, and we are confident in his ability to lead the next phase of Comtech’s growth and profitability.
Mr. Kornberg said: “For over 40 years I have had the privilege of leading Comtech as we built a global business. I am deeply grateful for the support of our investors over the years and for the unwavering dedication and commitment of our world-class employees.
Mr. Porcelain said: “I am honored to become CEO of Comtech. Under Fred’s leadership, we have been successful in expanding our core capabilities and positioning Comtech to respond more quickly to market dynamics. I think we are extremely well positioned to expand our competitive advantages and increase value for all stakeholders. I look forward to continuing to work with the Board of Directors, management and the entire Comtech team to implement a range of important initiatives already underway and continue our strong momentum.
Comtech Telecommunications Corp. is a leading global supplier of next-generation 911 emergency systems and secure wireless communication technologies to commercial and government customers worldwide. Based in Melville, New York and passionate about customer success, Comtech designs, manufactures and markets advanced and secure wireless solutions. For more information, please visit www.comtechtel.com.
Certain information contained in this press release contains forward-looking statements and involves certain important risks and uncertainties. Actual results could differ materially from this forward-looking information. Documents filed with the Company’s Securities and Exchange Commission identify many of these risks and uncertainties. All forward-looking information contained in this press release is subject in its entirety to the risks and uncertainties described in such documents filed with the Securities and Exchange Commission.
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CONTACT: Media contact
Nicholas.Capuano @ kekstcnc.com / Kimberly.Kriger @ kekstcnc.com
Comtech Investor Relations
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: SECURITY MOBILE / WIRELESS TECHNOLOGY TELECOMMUNICATIONS SOFTWARE
SOURCE: Comtech Telecommunications Corp.
Copyright Business Wire 2021.
PUB: 04/10/2021 16:01 / DISC: 04/10/2021 16:02
Copyright Business Wire 2021.