Frequency Electronics, Inc. Announces the Election of Dr. Stanton Sloane as President and Chief Executive Officer
02 5월 2018 - 5:00AM
Frequency Electronics, Inc. (NASDAQ:FEIM) today announced the Board
of Directors of Frequency Electronics, Inc., has elected Dr.
Stanton D Sloane to serve as President and Chief Executive Officer
effective May 1, 2018.
Martin Bloch, founder of the company has been
elected Executive Chairman of the Board of Directors, also
effective May 1, 2018. In addition, Mr. Bloch will continue to
serve as Chief Scientist. Jonathan Brolin has been elected Lead
Independent Director. Joel Girsky will serve as Director and
Chairman of the Audit Committee going forward.
Commenting on these events, Mr. Bloch said, “I
am very pleased we have someone of Stan’s exceptional experience
and capabilities to serve as CEO of FEI. He has full authority and
responsibility to perform all the duties of that job. This will
afford me the ability to focus on product development, particularly
the new family of atomic clocks for space and terrestrial
applications. As well, I can continue working with our key
customers on existing and additional opportunities.
Stanton Sloane commented, “I am also very
pleased to step into the CEO position and proud to be associated
with the outstanding staff here at FEI. Improving operating
efficiency and growing the company will be the focus as I
transition into my new role. In addition to systems for space, we
will target the broader defense electronics market where there are
numerous opportunities for us to grow. I am looking forward to
being a part of FEI’s future.”
Jonathan Brolin added, “I look forward to
working with Stan, Martin and the rest of the Board toward the
ongoing success of Frequency Electronics. The company is at a
key inflection point whereby the investments of the past few years
are beginning to bear fruit in significant contract wins and strong
competitive positioning for meaningful future business. I
want to extend my thanks to Martin for founding the company and,
through his 50+ years of hard work, preparing FEI to be able to
take advantage of these burgeoning market opportunities.
Martin’s continued involvement will help ensure a smooth
transition. Congratulations to Stan on this much deserved
election. Stan has done great work for the company since he
took the Chief Operating Officer role in September, and he is well
qualified to lead FEI to success as our new CEO.”
About Frequency
ElectronicsFrequency Electronics, Inc. is a world leader
in the design, development and manufacture of high precision
timing, frequency control and synchronization products for space
and terrestrial applications. Frequency’s products are used
in commercial and government satellite payloads and in other
government and military programs including; C4ISR, EW systems,
missiles, UAVs, aircraft, GPS, secure communications, as well as in
energy exploration, wireline and wireless communication
networks. Frequency has received over awards of excellence
for achievements in providing high performance electronic
assemblies for over 150 space and DOD programs. The Company
invests significant resources in research and development and
strategic acquisitions world-wide to expand its capabilities and
markets.
Frequency’s Mission Statement: “Our mission is
to provide precision time and low phase noise frequency generation
systems from 1 Hz to 46 GHz, for space and other challenging
environments.”
Subsidiaries and Affiliates: FEI-Zyfer provides
GPS and secure timing ("SAASM") capabilities for critical military
and commercial applications; FEI-Elcom Tech provides sub-systems
for the Electronic Warfare (“EW”) markets and added resources for
state-of-the-art RF microwave products. Frequency's Morion
affiliate supplies high-quality, cost effective oscillators and
components. Additional information is available on the
Company’s website: www.frequencyelectronics.com
Safe Harbor Statement under the Private
Securities Litigation Reform Act of 1995:The Statements in
this press release regarding the future constitute
"forward-looking" statements pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements inherently involve risks and
uncertainties that could cause actual results to differ materially
from the forward-looking statements. Factors that would cause
or contribute to such differences include, but are not limited to,
inability to integrate operations and personnel, actions by
significant customers or competitors, general domestic and
international economic conditions, consumer spending trends,
reliance on key customers, continued acceptance of the Company's
products in the marketplace, competitive factors, new products and
technological changes, product prices and raw material costs,
dependence upon third-party vendors, competitive developments,
changes in manufacturing and transportation costs, the availability
of capital, and other risks detailed in the Company's periodic
report filings with the Securities and Exchange Commission.
By making these forward-looking statements, the Company undertakes
no obligation to update these statements for revisions or changes
after the date of this release.
Contact
information: |
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Stanton
Sloane, President and CEOTELEPHONE: (516)
794-4500WEBSITE: www.frequencyelectronics.com |
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Frequency Electronics (NASDAQ:FEIM)
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