PARSIPPANY, N.J. -- (Business Wire)
Wireless Telecom Group, Inc. (NYSE MKT:WTT) today announced that its
board of directors has appointed current board member Timothy Whelan as
WTT’s new Chief Executive Officer. As CEO, Mr. Whelan succeeds Paul
Genova, who will assume the role of President and Chief Operating
Officer.
On behalf of Wireless Telecom’s Board, Chairman Alan Bazaar said “We are
excited to announce Tim as WTT’s Chief Executive Officer. He is a
seasoned executive and proven operator who has led over $2 billion in
acquisitions and financings, expanded into international markets and
demonstrated expertise managing and growing a business successfully
through organic initiatives and strategic M&A. He has contributed
significantly during his tenure on the board and we believe this is the
time to strengthen our executive team as we accelerate our strategic
initiatives and continue to focus our investments on innovation and
growth. We thank Paul for his leadership over the course of the last 13
years guiding the Company and building tremendous brand value and
customer relationships, and look forward to his continued contributions.”
Previously, Mr. Whelan co-founded an executive level consulting practice
focused on strategic, operational and M&A advisory services, and also
served as President at IPC Systems, Inc., a mission critical provider of
communication solutions. During his 14 years at IPC, he led the company
through multiple growth transactions and private equity ownership
changes. He initiated transformational product investments while
implementing new systems, improving operations and delivering increased
profitability. His leadership and skills were instrumental in doubling
the revenues of the company to over $500 million and operating a
business in 12 countries with over 1,000 employees.
CEO Timothy Whelan said, “I am honored and excited to leverage my
experience in driving profitable growth at multinational corporations in
our mission to deliver differentiated, strategic value from innovative
products in network and test & measurement solutions.” Mr. Whelan added,
“WTT’s customers and core markets, including telecommunications,
government and military agencies, corporate enterprises and data centers
rely on our Microlab, Boonton and Noisecom brands for success, and we
are committed to advancing specialized innovation and operational
excellence to serve them.”
About WTT
Wireless Telecom Group designs and manufactures radio frequency (RF) and
microwave-based products for wireless and advanced communications
industries and markets its products and services worldwide under the
Boonton, Microlab and Noisecom brands. Its complementary suite of high
performance components and instruments includes RF combiners and
broadband combiner boxes for in-building distributed antenna systems
deployments (DAS), RF power splitters and diplexers, hybrid couplers,
peak power meters, signal analyzers, noise modules, precision noise and
generators. The Company serves both commercial and government markets
with workflow-oriented, WiFi, WiMAX, satellite, cable, radar, avionics,
medical, and computing applications. Wireless Telecom Group is
headquartered in Parsippany, New Jersey, in the New York City
metropolitan area, and maintains a global network of Sales and Service
offices for excellent product service and support. Wireless Telecom
Group’s website address is http://www.wirelesstelecomgroup.com/.
Forward Looking Statements
Except for historical information, the matters discussed in this news
release may be considered "forward-looking" statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Such
statements include declarations regarding the intent, belief or current
expectations of the Company and its management. Prospective investors
are cautioned that any such forward-looking statements are not
guarantees of future performance and involve a number of risks and
uncertainties that could materially affect actual results. Specifically,
no assurances can be made with respect to: the management team’s ability
to accelerate the Company’s strategic initiatives and to focus on
innovation and growth; the management team’s ability to provide
contributions and guidance; the Company’s ability to deliver
differentiated, strategic value from innovative products in radio
frequency and test & measurement solutions; and the Company’s ability to
advance specialized innovation and operational excellence to serve its
customers and core markets. Further information regarding risks and
uncertainties that could affect the Company’s results are identified in
the Company's reports filed with the Securities and Exchange Commission,
including its Annual Report on Form 10-K for the year ended December 31,
2015.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160630006366/en/
Contacts:
Wireless Telecom Group, Inc.
Robert Censullo, 973-386-9696
Source: Wireless Telecom Group, Inc.
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