Comtech Telecommunications Corp., a global leading provider of next-generation 911 emergency systems and secure wireless communications technologies, announced today that its recently refreshed Board of Directors intends to submit a plan to Comtech’s shareholders at the Fiscal 2021 Annual Meeting of Stockholders to eliminate staggered three-year terms for its directors.
Fred Kornberg, Comtech’s Chairman of the Board and Chief Executive Officer, commented: “As we continue working to create and deliver sustained value to our shareholders, we remain committed to sound corporate governance practices and Board refreshment. During our Board’s first meeting in fiscal year 2022, our directors approved the recommendation of our Nominating and Governance Committee to develop a comprehensive plan ahead of our 2021 Annual Meeting to declassify the Board.”
A detailed description of the plan will be included in the Company’s proxy statement, which will be filed with the Securities and Exchange Commission prior to the 2021 Annual Meeting, which the Board anticipates holding in December 2021.