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News Breaks | | | | November 26, 2012 | | 15:53 EDT |  | JCS | Communications Systems CFO will be retiring on December 31, 2013
On November 19, David T. McGraw, the Chief Financial Officer of Communications Systems advised the company board of Directors that he would be retiring as Chief Financial Officer on December 31, 2013. Mr. McGraw has been employed by the Company since May 2001 and has served as Chief Financial Officer since January 2008. | |
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| May 15, 2013 | | 16:35 EDT | | JCS | Communications Systems announces changes at Transition Networks unit
Communications Systems announced a change in management and other restructuring within its Transition Networks business unit. CSI President and CEO William G. Schultz announced that the company was making these personnel changes to refocus Transition Networks' efforts targeting its strategic vertical markets and to better address the needs of its global customer base. In connection with these actions, which are effective immediately, Schultz will serve as acting General Manager of Transition Networks. This role will be in addition to his duties as President and CEO. Schultz served as General Manager of Transition Networks from October 2007 until May 2010 when he became the company's Executive Vice President of Operations. He became CSI's President and CEO in May 2011. In the short term, Schultz will focus on leading the execution of the company's key 2013 objectives while working to implement a redesigned sales infrastructure that can more quickly adapt to the shifting realities of Transition Networks' markets and customers. The company is conducting a search to fill key leadership roles in management and sales. As part of its action, the company will be effecting an immediate reduction-in-force of approximately 8% of its 150-employee Transition Networks business unit. As noted above, the company will be filling key leadership roles in management and sales, so the ultimate decrease in Transition Networks employees will be slightly less than 8%. The company has not yet determined the amount of expense and restructuring charge associated with the moves. | | | May 13, 2013 | | 16:38 EDT | | JCS | Gabelli reports 5.11% stake in Communications Systems
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