- Company to Continue Corporate Transition,
Focusing on Revenue Generation Activities in its Wireless
Connectivity and Tethered Drone Units -
DALLAS, Nov. 29,
2022 /PRNewswire/ -- COMSovereign Holding Corp.
(NASDAQ: COMS and COMSP) ("COMSovereign" or the "Company"), a
U.S.-based developer of 4G LTE Advanced and 5G communication
systems and solutions, today announced that the Board of Directors
has unanimously appointed David
Knight as Chief Executive Officer, President, and a Director
of the Company on November 23,
Mr. Knight was initially named interim CEO on September 7, 2022, following the departures of
the Company's CEO and its President. Working with the Board of
Directors, Mr. Knight has been implementing a series of business
process improvements and refocusing activities which include
streamlining operations and reducing costs. These efforts also
include engaging with customers and partners in an effort to
maximize the value of the Company's wireless communications and
tethered drone products, its Intellectual Property portfolio, and
identifying new revenue-generating opportunities.
"I wish to thank the Board for their vote of confidence as we
continue to address the challenges facing the Company," stated
David Knight. "As interim CEO, I
have evaluated and analyzed COMSovereign and its roadmap, and I am
confident in its significant potential and value. We have crafted a
clear vision for COMSovereign as stated in my recent update letter,
and we are committed to the execution of our plan designed to
refocus the Company and improve its ability to service customers
and generate meaningful revenue."
COMSovereign's Board of Directors issued a statement saying,
"David's dedication and leadership since his appointment as interim
CEO has been a critical factor in our ability to execute against
the Company's ongoing business transition activities. The Board is
unanimous in support as he and the team work diligently to ensure
we capitalize on the strength and value of our current offerings
today and are positioned to realize the exciting new technologies
and capabilities envisioned for tomorrow."
For more information about COMSovereign, please visit
www.COMSovereign.com and connect with us on Facebook and
About COMSovereign Holding Corp.
COMSovereign Holding Corp. (Nasdaq: COMS) has assembled a
portfolio of communications technology companies that enhance
connectivity across the entire data transmission spectrum. Through
strategic acquisitions and organic research and development
efforts, COMSovereign has become a U.S.-based communications
provider able to provide 4G LTE Advanced and 5G telecom solutions
to network operators and enterprises. For more information about
COMSovereign, please visit www.COMSovereign.com.
Certain statements in this press release that are not historical
facts are forward-looking statements that reflect management's
current expectations, assumptions, and estimates of future
performance and economic conditions, and involve risks and
uncertainties that could cause actual results to differ materially
from those anticipated by the statements made herein.
Forward-looking statements are generally identifiable by the use of
forward-looking terminology such as "believe," "expects," "may,"
"looks to," "will," "should," "plan," "intend," "on condition,"
"target," "see," "potential," "estimates," "preliminary," or
"anticipates" or the negative thereof or comparable terminology, or
by discussion of strategy or goals or other future events,
circumstances, or effects. Further information relating to factors
that may impact the Company's results and forward-looking
statements are disclosed in the Company's filings with the SEC. The
forward-looking statements contained in this press release are made
as of the date of this press release, and the Company disclaims any
intention or obligation, other than imposed by law, to update or
revise any forward-looking statements, whether as a result of new
information, future events, or otherwise.
Steve Gersten, Director of Investor
COMSovereign Holding Corp.
Media Relations for COMSovereign Holding Corp.:
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SOURCE COMSovereign Holding Corp.