Comtech Telecommunications <\/b>and shareholder Outerbridge Capital Management<\/b> have come to an agreement on the company\u2019s board of directors. <\/p>\n
Outerbridge has agreed to support Comtech\u2019s nomination of Judy Chambers and Larry Waldman to the board. Comtech has agreed to appoint Outerbridge\u2019s nominee Wendi Carpenter, retired U.S. Navy<\/strong> rear admiral. In addition, the board will also appoint an additional independent director, agreed upon by both Comtech and Outerbridge, who are working with a search firm to identify candidates.<\/p>\n Comtech will soon have previously announced changes to its board, when new CEO Michael Porcelain joins the board, and Mark Quinlan, co-founder of shareholder White Hat Capital Partners LP<\/strong> joins the board. Once all of these changes take place Comtech\u2019s board of directors will consist of nine directors, including six independent directors appointed within the last two years. <\/p>\n This agreement comes after a public dispute between the company and its shareholder, who owns approximately 4.95% of Comtech stock. Outerbridge had expressed a lack of faith in the management team and the board, and Comtech accused Outerbridge of misrepresenting the company\u2019s financial performance. <\/p>\n \u201cThis is the right outcome for Comtech shareholders,\u201d said Porcelain, incoming CEO. \u201cComtech and Outerbridge have recently engaged in constructive discussions and this agreement puts us squarely on a path forward that is consistent with our shared desire to accelerate value creation.\u201d <\/p>\n","protected":false},"excerpt":{"rendered":" Comtech Telecommunications and shareholder Outerbridge Capital Management have come to an agreement on the company\u2019s board of directors. Outerbridge has agreed to support Comtech\u2019s nomination of Judy Chambers and Larry Waldman to the board. Comtech has agreed to appoint Outerbridge\u2019s nominee Wendi Carpenter, retired U.S. Navy rear admiral. In addition, the board will also appoint […]<\/p>\n","protected":false},"author":1,"featured_media":54934,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-56196","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/56196"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=56196"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/56196\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/54934"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=56196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=56196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=56196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}