EMS Technologies, Inc. (NASDAQ: ELMG) (“EMS”) today announced
that Dino Koutrouki has been named to lead the Company’s new Global
Resource Management (“GRM”) business. This business combines the
Company’s LXE and EMS Global Tracking divisions to better meet
growing demand for “in-transit visibility,” one of the Company’s
most promising growth opportunities. Mr. Koutrouki previously
headed the Company’s EMS Global Tracking division.
Neil Mackay, President and CEO, commented, “I believe that
tighter strategic alignment between our divisions will drive
collaboration and innovation, and open up new opportunities. The
combination of LXE and EMS Global Tracking will enhance our
leadership position in an emerging global market. We are delighted
that Dino is taking on this new role and look forward to his
contributions.”
Dino Koutrouki said: “LXE’s technology portfolio, including
wide-area radios and rugged computers, will complement the
satellite-tracking capabilities of EMS Global Tracking. We expect
that this new GRM team will offer end-to-end solutions for greater
in-transit visibility. We are excited about this market’s
potential, and I look forward to working with this superb new
organization.”
Mr. Koutrouki joined EMS in February 2009, following the
Company’s acquisition of telematics solutions provider Satamatics
Global Ltd. While at Satamatics, Mr. Koutrouki held various
executive level positions of increasing responsibility, including
Chief Executive Officer. Prior to Satamatics, Mr. Koutrouki spent
14 years in management with Marconi Group’s telecom data networking
equipment business, now part of Ericsson.
About EMS Technologies, Inc.
EMS Technologies, Inc. (NASDAQ: ELMG) is a leading provider of
wireless connectivity solutions over satellite and terrestrial
networks. EMS keeps people and systems connected, wherever they are
— on land, at sea, in the air or in space. Serving two broad
market sectors – AeroConnectivity and Global Resource Management,
EMS products and services enable universal mobility, visibility and
intelligence.
www.ems-t.com
Statements contained in this press release regarding the
potential for various businesses and products are forward-looking
statements. Actual results could differ materially from those
statements as a result of a wide variety of factors. Such factors
include, but are not limited to…
- economic conditions in the U.S. and
abroad and their effect on capital spending in our principal
markets;
- difficulty predicting the timing of
receipt of major customer orders, and the effect of customer timing
decisions on our results;
- our successful completion of
technological development programs and the effects of technology
that may be developed by, and patent rights that may be held or
obtained by, competitors;
- U.S. defense budget pressures on
near-term spending priorities;
- uncertainties inherent in the process
of converting contract awards into firm contractual orders in the
future;
- volatility of foreign currency exchange
rates relative to the U.S. dollar and their effect on purchasing
power by international customers, and on the cost structure of the
our operations outside the U.S., as well as the potential for
realizing foreign exchange gains and losses associated with assets
and liabilities denominated in foreign currencies;
- successful resolution of technical
problems, proposed scope changes, or proposed funding changes that
may be encountered on contracts;
- changes in our consolidated effective
income tax rate caused by the extent to which actual taxable
earnings in the U.S., Canada and other taxing jurisdictions may
vary from expected taxable earnings, changes in tax laws, and the
extent to which deferred tax assets are considered realizable;
- successful transition of products from
development stages to an efficient manufacturing environment;
- changes in the rates at which our
products are returned for repair or replacement under
warranty;
- customer response to new products and
services, and general conditions in our target markets (such as
logistics and space-based communications) and whether these
responses and conditions develop according to our
expectations;
- the increased potential for asset
impairment charges as unfavorable economic or financial market
conditions or other developments might affect the estimated fair
value of one or more of our business units;
- the success of certain of our customers
in marketing our line of high-speed commercial airline
communications products as a complementary offering with their own
lines of avionics products;
- the availability of financing for
various mobile and high-speed data communications systems;
- risk that unsettled conditions in the
credit markets may make it more difficult for some customers to
obtain financing and adversely affect their ability to pay, which
in turn could have an adverse impact on our business, operating
results and financial condition;
- development of successful working
relationships with local business and government personnel in
connection with distribution and manufacture of products in foreign
countries;
- the demand growth for various mobile
and high-speed data communications services;
- our ability to attract and retain
qualified senior management and other personnel, particularly those
with key technical skills;
- our ability to effectively integrate
our acquired businesses, products or technologies into our existing
businesses and products, and the risk that any such acquired
businesses, products or technologies do not perform as expected,
are subject to undisclosed or unanticipated liabilities, or are
otherwise dilutive to our earnings;
- the potential effects, on cash and
results of discontinued operations, of final resolution of
potential liabilities under warranties and representations that we
made, and obligations assumed by purchasers, in connection with our
dispositions of discontinued operations;
- the availability, capabilities and
performance of suppliers of basic materials, electronic components
and sophisticated subsystems on which we must rely in order to
perform according to contract requirements, or to introduce new
products on the desired schedule;
- uncertainties associated with U.S.
export controls and the export license process, which restrict our
ability to hold technical discussions with customers, suppliers and
internal engineering resources and can reduce our ability to obtain
sales from customers outside the U.S. or to perform contracts with
the desired level of efficiency or profitability; and
- our ability to maintain compliance with
the requirements of the Federal Aviation Administration and the
Federal Communications Commission, and with other government
regulations affecting our products and their production, service
and functioning.
Further information concerning relevant factors and risks are
identified under the caption "Risk Factors" in our Annual Report on
Form 10-K for the year ended December 31, 2009, as well as other
risks and uncertainties discussed under the caption “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations” in the other periodic reports we have filed with the
SEC.
Additional Information and Where To Find It
In connection with the proxy contest initiated by MMI
Investments, L.P., the Company will be filing documents with the
Securities and Exchange Commission (the “SEC”), including the
filing by the Company of a proxy statement. Shareholders are urged
to read the Proxy Statement for the 2011 Annual Meeting of
Shareholders when it becomes available, as well as other documents
filed with the SEC, because they will contain important
information. The final Proxy Statement will be mailed to
stockholders of the Company. Shareholders may obtain free copies of
these documents (when they are available) and other documents filed
with the SEC at the Company’s website (www.ems-t.com) under the
heading “Investor Relations”, the SEC’s website at (www.sec.gov),
or by contacting the Company at 770-729-6512.
Information Regarding Participants
The Company, its directors and certain of its officers and
employees are participants in a solicitation of proxies in
connection with the Company’s 2011 Annual Meeting of Shareholders.
Each of the directors of the Company and each of the officers and
employees of the Company who are participants in the solicitation
are listed below, together with the number of shares of common
stock of the Company beneficially owned by each of these
individuals as of January 31, 2011. This information has been
determined in accordance with Rule 13d-3 under the Securities
Exchange Act of 1934 based upon information furnished by the
persons listed or contained in filings made by them with the
Securities and Exchange Commission. Except as otherwise indicated,
each person possessed sole voting and investment power with respect
to the shares shown. In addition to the shares shown in the
following table, the non-employee directors also hold non-voting
deferred share units, acquired in lieu of all or a portion of their
cash compensation; such deferred share units are summarized in the
subsequent table.
Name
Title
Amount of Shares
Beneficially Owned
John R. Bolton Director
11,000(1) Hermann Buerger
Director 56,226(1) Joseph D.
Burns Director 3,000(1)
John R. Kreick Director
33,000(1) John B. Mowell Chairman of
the Board 99,448(1) Thomas W.
O’Connell Director 27,000(1)
Bradford W. Parkinson Director
38,000(1) Norman E. Thagard
Director 37,474(1) John
L. Woodward, Jr. Director
45,662(1) Neilson A. Mackay
Director and President and Chief Executive
Officer
88,456(1) Gary B. Shell
Senior Vice President, Chief Financial Officer and Treasurer
41,413(1) Timothy C. Reis
Vice President and General Counsel
36,949(1) David M. Sheffield Vice
President, Finance and Chief Accounting Officer
10,557(1) Steven M. Newell Vice
President and General Manager, LXE 22,011(1)
John C. Jarrell Vice President and
General Manager, Aviation ─ Nils
A. Helle Vice President and Chief of Staff
7,088(1) Constandino Koutrouki
Vice President and General Manager, EMS Global Tracking
7,125(1) Marion Van Fosson
Vice President and General Manager, EMS Defense and
Space 79(1) (1) Includes
options that are currently exercisable or will be exercisable
within 60 days in the amounts of 6,000 for Mr. Bolton, 44,000 for
Mr. Buerger, 3,000 for Mr. Burns, 29,000 for Dr. Kreick, 32,000 for
Mr. Mowell, 27,000 for Mr. O’Connell, 35,000 for Dr. Parkinson,
32,000 for Dr. Thagard, 44,000 for Mr. Woodward, 67,417 for Dr.
Mackay, 32,750 for Mr. Shell, 29,492 for Mr. Reis, 8,167 for Mr.
Sheffield, 9,442 for Mr. Newell, 6,025 for Mr. Helle, and 6,000 for
Mr. Koutrouki. For Mr. Mowell, these totals also include 9,800
shares as to which he shares voting and investment power with a
family member but disclaims beneficial ownership.
The following table sets forth the aggregate number of shares
represented by the deferred stock units held by each current
non-employee director, as of January 31, 2011:
Name Shares
Represented By Deferred Stock Units John R. Bolton
1,524 Hermann Buerger 5,438
Joseph D. Burns 720 John R. Kreick
7,169 John B. Mowell 12,818
Thomas W. O’Connell 2,914 Bradford W.
Parkinson 7,286 Norman E. Thagard
10,472 John L. Woodward, Jr.
10,926
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