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Comtech Telecommunications Fires CEO Ken Peterman; John Ratigan Named Interim CEO; Stock Drops
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Comtech Telecommunications Fires CEO Ken Peterman; John Ratigan Named Interim CEO; Stock Drops
Mar 13, 2024 9:47 AM

12:17 PM EDT, 03/13/2024 (MT Newswires) -- Comtech Telecommunications ( CMTL ) said Wednesday it fired Chief Executive Officer Ken Peterman, and he will cease to serve on the board.

Chief Corporate Development Officer John Ratigan, 63, was named interim CEO, effective immediately.

Peterman was terminated "for cause due to conduct unrelated to Comtech's business strategy, financial results or previously filed financial statements," according to a regulatory filing.

The board elected member Mark Quinlan as chair, the company said.

Shares of Comtech Telecommunications ( CMTL ) slumped 20% in recent trading Wednesday.

Price: 4.60, Change: -1.16, Percent Change: -20.14

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