Comtech (NASDAQ: CMTL) today announced that its Board of Directors has appointed John Ratigan, Chief Corporate Development Officer (CCDO), as interim Chief Executive Officer, effective immediately. Ratigan succeeds Ken Peterman, who has been terminated as President and CEO and will cease to serve on the Board. Peterman’s termination was for conduct unrelated to Comtech’s business strategy, financial results or previously filed financial statements according to the company.
Ratigan, a former Chief Executive Officer, is an accomplished executive who brings over three decades of experience and senior leadership expertise across the global satellite technology sector. He has an extensive background in satellite communications, as well as a deep familiarity with Comtech, having spent ten years at EF Data Corp. prior to its acquisition by Comtech in July 2000, driving significant revenue growth over the course of his tenure. As CCDO at Comtech, Mr. Ratigan has proven himself an instrumental member of the executive team, identifying and optimizing market shifts currently underway and executing on the Company’s One Comtech strategy.
In addition, the Board has elected current Board member Mark Quinlan as Chair of the Board.
“The Board is committed to upholding the highest standards of ethical and professional conduct,” said Mark Quinlan, Chair of the Comtech Board. “The Comtech Board remains committed to our strategy and mission of serving the complex and secure connectivity needs of the government and commercial sectors. We are fortunate to have a leader of John’s caliber leading Comtech’s talented organization at this important moment as we continue to deliver mission-critical solutions to our global customer base. With our commitment to innovation and competitive market position, Comtech is well positioned to capitalize on the significant growth opportunities ahead.”
“As a leading global provider of next-generation 911 systems, secure wireless technologies and satellite communications, Comtech is at the forefront of innovative trusted connectivity solutions,” said Ratigan. “I look forward to working closely with the leadership team and the Board as we continue successfully executing on One Comtech, building on the Company’s recent momentum and creating value for shareholders, customers, partners, employees and other stakeholders.”
The Board will initiate a search for a permanent successor and intends to retain a leading executive search firm to assist in the process.
The Company expects to report its financial results and file its Form 10-Q for the quarter ended January 31, 2024, on March 18, 2024.
Before joining Comtech in November 2023 as the company’s first Chief Corporate Development Officer, Ratigan served as CEO and President of iDirect Government, LLC and as an Executive Committee Member of ST Engineering iDirect, Inc. During his tenure, he grew iDirect Government to over US$ 100 million in annual revenue and spearheaded the acquisition of GlowLink Communications Technologies, Inc. and its unique interference mitigation technology (CSIR), which helped the company become the largest provider of Time Division Multiple Access (TDMA) SATCOM capabilities. Earlier in his career, Mr. Ratigan ran East Coast operations for Fairchild Data Corporation and EF Data Corp., which is now a part of Comtech. During his time at EF Data, he was instrumental in helping the company grow from US$ 20 million to US$ 120 million in revenue in under eight years. Prior to that, Ratigan held the position of Senior Vice President of North and South American sales for the start-up BroadLogic Network Technologies, Inc. He began his career in the United States Senate working for Senator Bill Armstrong (R-Colorado) and held multiple sales positions with the Xerox Corporation as a member of the legal sales team.
Ratigan holds a Bachelor of Science in Marketing from the University of Maryland.
