COMSovereign Holding Corp. (NASDAQ: COMS), a U.S.-based developer of 4G LTE Advanced and 5G Communication Systems and Solutions today announced that the Board of Directors of COMSovereign has accepted the resignation of co-founder, Chairman and CEO Daniel Hodges, effective September 1, 2022. The Board has also concurrently accepted the resignation of co-founder, President and Board member John Howell, effective on September 1, 2022.
The Board has been reviewing CEO candidates and has appointed David Knight as interim CEO until a formal selection is made.
David Knight, a seasoned and successful technology and operations executive, has been appointed by the Board to replace Dan Hodges. Knight has been advising COMSovereign over the past several months. David has led turnarounds and transformations of multiple technology and services companies. He previously served as CEO of Dispersive Holdings, a cybersecurity company based in Atlanta, GA and was CEO of Federos (acquired by Oracle). Earlier, Knight held senior management positions at Motorola, SEI and at Micromuse where he was responsible for the acquisition and integration of over $200 million in subsidiaries and partnerships prior to the firm’s purchase by IBM. He holds a master’s degree in management from Northwestern’s Kellogg School and a Bachelor of Science in Accounting from Valparaiso University.
COMSovereign’s Board of Directors issued the following statement, “We thank Dan and John for their work in creating COMSovereign and its compelling vision of an American-made wireless technology company built on significant intellectual property, critical enabling technologies, and unique core capabilities. The impacts of COVID, supply chain disruptions and chip shortages have created substantial challenges in achieving the Company’s goals and creating shareholder value so we must refocus the business under new leadership so it can deliver on its potential. Through the work of David Knight and our highly engaged Board of Directors, we are committed to moving the Company forward into a new phase, returning the business to the basics of customer engagement, increasing revenues and profitability so it can deliver benefit to all COMSovereign stakeholders.”
In connection with the management changes underway within the Company, the Board has accepted the proposed recommendation for the establishment of a Transition team. This Transition team will be working with management and under the direction of David Knight to refocus the business on its core strength in 4G and 5G wireless connectivity solutions. The team continues to drastically reduce overhead costs and seeks to divest non-core assets while reshaping sales efforts and making production improvements.
