MELVILLE, N.Y. - Comtech Telecommunications Corp. (NASDAQ: NASDAQ:CMTL), a global technology company, announced the appointment of John Ratigan as interim Chief Executive Officer, following the termination of Ken Peterman from the roles of President and CEO. Ratigan, who has been serving as the Chief Corporate Development Officer, brings over thirty years of experience in the satellite technology sector. The Board has also elected Mark Quinlan as the new Chair of the Board.
The changes in leadership are effective immediately, with Peterman's termination cited as unrelated to the company's business strategy, financial results, or previously filed financial statements. Ratigan's previous roles include CEO and President of iDirect Government, LLC, and he has a history with Comtech, having worked at EF Data Corp. before its acquisition by Comtech in July 2000.
Quinlan, stepping into the role of Chair, emphasized the Board's commitment to ethical conduct and expressed confidence in Ratigan's ability to lead the company. Ratigan acknowledged the company's position at the forefront of trusted connectivity solutions and expressed enthusiasm for continuing to execute on the "One Comtech" strategy, aiming to create value for shareholders and other stakeholders.
Comtech, known for its next-generation 911 systems, secure wireless technologies, and satellite communications, is preparing to report its financial results for the quarter ended January 31, 2024, on March 18, 2024. Meanwhile, the Board will begin searching for a permanent CEO with the assistance of an executive search firm.
The information provided is based on a press release statement from Comtech Telecommunications Corp.
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