Comtech Telecommunications Board Restructure and Investor Agreement

Comtech Telecommunications ( (CMTL) ) has issued an announcement.

Comtech Telecommunications Corp. has entered a cooperation agreement with an investor group, resulting in the appointment of Michael Hildebrandt as a new independent director, while two current directors will not seek re-election. The agreement includes appointing another independent director and has the investor group supporting Comtech’s board nominees for the 2024 Annual Meeting. This move is set to refresh Comtech’s Board, aligning it with the investor group’s vision, while also imposing standstill restrictions and voting commitments on the group.

Learn more about CMTL stock on TipRanks’ Stock Analysis page.