Comtech Telecommunications Corp. (NASDAQ: CMTL), yesterday announced it has appointed Michael Porcelain to be Chief Executive Officer as of December 31, 2021, and a member of the Board of Directors, effective January 3, 2022. Porcelain, who will also remain President of Comtech, succeeds Fred Kornberg, who will serve as an advisor to the company on technology matters and continue as a director and non-executive Chairman of the Board. This appointment completes the company’s long-term CEO succession planning effort, initiated by the Board of Directors with its appointment of Porcelain as Chief Operating Officer in 2018, and President in 2020.
Comtech also announced that Wendi Carpenter and Mark Quinlan have been appointed as independent directors of the Board, effective January 3, 2022.
“I’m honored to take on the CEO role at Comtech, especially at a pivotal time for our business and shareholders,” said Porcelain. “The past 24 months have seen a significant and generational transformation of both our company and our markets overall. I’m excited to take my own experience with all parts of Comtech’s operations and drive a new level of performance alongside our team. I also look forward to working with our expanded, world-class Board of Directors. Together, we’ll take Comtech into a new era of commercial success and shareholder value creation.”
Porcelain has served as President since January 2020, and as Chief Operating Officer of Comtech since October 2018. He previously served as the company’s Chief Financial Officer from 2006 to 2018, and as Vice President of Finance and Internal Audit of Comtech from 2002 to 2006. Prior to joining Comtech, Porcelain was Director of Corporate Profit and Business Planning for Symbol Technologies (subsequently acquired by Motorola Technologies, Inc.), a mobile wireless information solutions company.
Kornberg said, “It has been my distinct privilege to lead Comtech during four historic decades that have seen radical changes in the 911 public safety and satellite earth station technology markets. I want to express my gratitude to our investors for their continued support, our customers for trusting Comtech to address their most pressing needs, and our world-class employees for their steadfast dedication. In Michael, there is no better-qualified leader to take Comtech to new heights. As both a seasoned executive and an experienced operator who has helped define and execute against a long-term strategic plan, our new CEO has earned the confidence of our entire Board and that of shareholders and has positioned us for a bright future.”
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