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News Breaks | | | | November 30, 2012 | | 10:23 EDT |  | JCS | Communications Systems CFO McGraw to retire at end 2013
Communications Systems announced that David McGraw, the company's Chief Financial Officer, advised the company that he intends to retire at the end of 2013. McGraw has served as CFO since January 2008. The company said, "Dave's early notification of his retirement plans will enable us to implement an orderly and efficient transition of his responsibilities to his successor." | |
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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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