Comtech Elects Kenneth H. Traub as Executive Chairman
Comtech Telecommunications Corp. (NASDAQ: CMTL) has announced significant leadership changes, with Kenneth H. Traub unanimously elected as Executive Chairman by the Board of Directors. Mark Quinlan has stepped down as Chairman but will continue serving on the Board. John Ratigan, Comtech's President and CEO, will report directly to Traub. Additionally, Lieutenant General (Retired) Bruce T. Crawford has been elected as Lead Independent Director. Traub, who joined the Board a month ago, will work closely with the management team to address challenges and enhance company value.
Comtech Telecommunications Corp. (NASDAQ: CMTL) ha annunciato cambiamenti significativi nella leadership, con Kenneth H. Traub eletto all'unanimità come Presidente Esecutivo dal Consiglio di Amministrazione. Mark Quinlan si è dimesso dalla carica di Presidente ma continuerà a far parte del Consiglio. John Ratigan, Presidente e CEO di Comtech, riferirà direttamente a Traub. Inoltre, il Generale di Corpo d'Armata (in pensione) Bruce T. Crawford è stato eletto come Direttore Indipendente Senior. Traub, entrato nel Consiglio un mese fa, lavorerà a stretto contatto con il team di gestione per affrontare le sfide e aumentare il valore dell'azienda.
Comtech Telecommunications Corp. (NASDAQ: CMTL) ha anunciado cambios significativos en el liderazgo, con Kenneth H. Traub elegido por unanimidad como Presidente Ejecutivo por la Junta Directiva. Mark Quinlan ha renunciado a su cargo como Presidente, pero seguirá formando parte de la Junta. John Ratigan, Presidente y CEO de Comtech, informará directamente a Traub. Además, el Teniente General (Retirado) Bruce T. Crawford ha sido elegido como Director Independiente Principal. Traub, quien se unió a la Junta hace un mes, trabajará estrechamente con el equipo de gestión para abordar desafíos y aumentar el valor de la empresa.
Comtech Telecommunications Corp. (NASDAQ: CMTL)는 중요한 경영진 변화를 발표했으며, Kenneth H. Traub가 이사회에 의해 만장일치로 사장직으로 선출되었습니다. Mark Quinlan은 의장직에서 물러났지만, 이사로 계속 활동할 것입니다. Comtech의 대통령이자 CEO인 John Ratigan은 Traub에게 직접 보고할 것입니다. 또한, 퇴역 대장인 Bruce T. Crawford가 선임 독립 이사로 선출되었습니다. Traub는 한 달 전에 이사회에 합류했으며, 경영팀과 긴밀히 협력하여 도전과제를 해결하고 회사 가치를 높이기 위해 노력할 것입니다.
Comtech Telecommunications Corp. (NASDAQ: CMTL) a annoncé des changements significatifs au sein de sa direction, avec Kenneth H. Traub élu à l'unanimité Président Exécutif par le Conseil d'Administration. Mark Quinlan a démissionné de son poste de Président mais continuera à siéger au Conseil. John Ratigan, Président et CEO de Comtech, rendra directement compte à Traub. De plus, le Général de Corps d'Armée (à la retraite) Bruce T. Crawford a été élu Directeur Indépendant Principal. Traub, qui a rejoint le Conseil il y a un mois, travaillera en étroite collaboration avec l'équipe de direction pour relever les défis et améliorer la valeur de l'entreprise.
Comtech Telecommunications Corp. (NASDAQ: CMTL) hat bedeutende Änderungen in der Unternehmensführung angekündigt, wobei Kenneth H. Traub einstimmig zum Executive Chairman vom Vorstand gewählt wurde. Mark Quinlan trat als Vorsitzender zurück, wird jedoch weiterhin im Vorstand tätig sein. John Ratigan, Präsident und CEO von Comtech, wird direkt an Traub berichten. Außerdem wurde Generalleutnant (a.D.) Bruce T. Crawford zum Lead Independent Director gewählt. Traub, der vor einem Monat in den Vorstand eintrat, wird eng mit dem Managementteam zusammenarbeiten, um Herausforderungen anzugehen und den Unternehmenswert zu steigern.
- Board unanimously elected new Executive Chairman, indicating strong leadership alignment
- Former Chairman remains on Board, ensuring continuity in governance
- Addition of experienced military leadership as Lead Independent Director strengthens governance structure
- Leadership restructuring suggests potential ongoing challenges requiring immediate attention
- Rapid leadership change (new Executive Chairman appointed just one month after joining Board) indicates possible organizational instability
Insights
This leadership change at Comtech is notable but not immediately impactful to investors. The appointment of Kenneth Traub as Executive Chairman, while significant for corporate governance, represents a structural reorganization rather than a material change in business operations or financials. His role as senior executive leading the company, with CEO John Ratigan reporting to him, suggests a potential shift in strategic direction, but concrete plans and their financial implications remain to be seen.
The retention of Mark Quinlan on the board and appointment of Bruce Crawford as Lead Independent Director maintains continuity while strengthening military expertise, particularly relevant for Comtech's defense contracts. However, without specific strategic initiatives or financial targets announced alongside these changes, the immediate market impact is likely to be minimal.
Bruce Crawford to Serve as Lead Independent Director
“I am thrilled to lead the Comtech team as Executive Chairman during this important time for the Company,” said Mr. Traub. “I look forward to working closely with the Board, management team, employees throughout the Company as well as other stakeholders to help address lingering challenges and better position us to capitalize on significant value enhancement opportunities going forward.”
Mr. Traub continued, “On behalf of the Board, I thank Mark for his leadership and the contributions he has made to Comtech while serving as Chairman. We look forward to continuing to benefit from his expertise as a director and as a significant investor.”
“I am honored to have been selected as Lead Independent Director, and look forward to working with the Board and management team,” said Mr. Crawford. “The Comtech Board has acted decisively to strengthen the Company's leadership.”
“Ken joined the Comtech Board just one month ago and has already demonstrated the leadership skills and acumen that have been the hallmarks of his successful career,” said Mr. Quinlan. “Comtech is fortunate to have a leader of his caliber as we embark on the next chapter of the Company's development.”
Mr. Ratigan added, “I am thrilled to welcome Ken to Comtech leadership and look forward to working closely together. Ken and I have complementary skills and I look forward to collaborating with him to help Comtech achieve its full potential.”
About Kenneth Traub
Mr. Traub is a visionary and transformational corporate leader with a successful track record of building sustainable shareholder value. Mr. Traub has over 30 years of experience as a Chairman, CEO, director and active investor with a demonstrated record of accomplishment in driving strategic, financial, operational and governance improvements. Mr. Traub is adept at managing business challenges, executing turnarounds, optimizing capital allocation, driving operational improvements, implementing M&A and other strategic initiatives and capitalizing on strategic growth opportunities. Mr. Traub received a BA from Emory College in 1983 and an MBA from Harvard Business School in 1988.
About Comtech
Comtech Telecommunications Corp. is a leading global technology company providing satellite and space communications technologies, terrestrial and wireless network solutions, NG911 emergency services and cloud native capabilities to commercial and government customers around the world. Our unique culture of innovation and employee empowerment unleashes a relentless passion for customer success. With multiple facilities located in technology corridors throughout
Forward-Looking Statements
Certain information in this press release contains forward-looking statements. Forward-looking statements include, among others, statements regarding our expectations for our operational initiatives, future performance and financial condition, the plans and objectives of our management and our assumptions regarding such future performance, financial condition, and plans and objectives that involve certain significant known and unknown risks and uncertainties and other factors not under our control which may cause our actual results, future performance and financial condition to be materially different from the results, performance or other expectations implied by these forward-looking statements. Factors that could cause actual results to differ materially from current expectations are described in our filings with the Securities and Exchange Commission ("SEC"). We urge you to consider all of the risks, uncertainties and factors identified above or discussed in such reports carefully in evaluating the forward-looking statements. The risks described above are not the only risks that we face. We do not intend to update or revise publicly any forward-looking statements, whether because of new information, future events, or otherwise, except as required by law.
Important Additional Information and Where to Find It
The Company has filed a proxy statement on Schedule 14A, an accompanying proxy card, and other documents with the SEC in connection with its solicitation of proxies from the Company’s stockholders for the Company’s Fiscal 2024 Annual Meeting of Stockholders. THE COMPANY’S STOCKHOLDERS ARE STRONGLY ENCOURAGED TO READ THE COMPANY’S DEFINITIVE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO), THE ACCOMPANYING PROXY CARD, AND ALL OTHER DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and stockholders may obtain a copy of the definitive proxy statement, an accompanying proxy card, any amendments or supplements to the definitive proxy statement and other documents filed by the Company with the SEC at no charge at the SEC’s website at www.sec.gov. Copies will also be available at no charge by clicking the “Governance” link in the “Investors” section of the Company’s website, https://comtech.com/investors/, or by contacting investors@comtech.com as soon as reasonably practicable after such materials are electronically filed with, or furnished to, the SEC.
Participants in the Solicitation
The Company, its directors, certain of its officers, and other employees may be deemed to be “participants” (as defined in Section 14(a) of the Securities Exchange Act of 1934, as amended) in the solicitation of proxies from the Company’s stockholders in connection with matters to be considered at the Company’s Fiscal 2024 Annual Meeting of Stockholders.
Information about the names of the Company’s directors and officers, their respective interests in the Company by security holdings or otherwise, and their respective compensation is set forth in the sections entitled “Stockholders, Directors and Executive Officers,” “Director Compensation,” and “Executive Compensation” of the Company’s Proxy Statement on Schedule 14A in connection with the Fiscal 2024 Annual Meeting of Stockholders, filed with the SEC on November 27, 2024. To the extent the security holdings of directors and executive officers change after the amounts described in these filings, such changes are set forth on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC, which can be found at no charge at the SEC’s website at www.sec.gov. These documents will be available free of charge as described above.
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Investor Relations Contact
Maria Ceriello
631-962-7102
investors@comtech.com
Media Contacts
Jamie Clegg
480-532-2523
jamie.clegg@comtech.com
Jed Repko / Aura Reinhard
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
Source: Comtech Telecommunications Corp.
FAQ
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