– USA, NY – Frequency Electronics, Inc. (NASDAQ:FEIM) announced that the size of its Board of Directors has been increased from five to seven members, and two new board members have been appointed. Joining the Board of Directors are Dr. Stanton D. Sloane and Russell Sarachek.
Dr. Stanton D. Sloane is a highly respected proven business leader with extensive leadership experience in high-tech enterprises encompassing a broad range of U.S. Government and Department of Defense secure and classified programs.
Mr. Russell Sarachek is the Managing Director of Contra Capital Management LLC and a significant shareholder of Frequency Electronics, Inc., with shareholdings of approximately 4% of the Company’s outstanding common stock. Mr. Sarachek also has extensive knowledge of public company corporate governance.
Commenting on the appointments, Joel Girsky, the new Chairman of the Board of Directors said, “We welcome Dr. Sloane and Mr. Sarachek to our Board of Directors. Our new members embody the spirit of innovation and achievement, and bring talent, expertise and energy to the table. They possess multi-discipline technical know-how and wide industry and Government partnership experience. In addition, Mr. Sarachek, as a significant shareholder of the Company, has a strong vested interest in the long-term success of the Company. We are very fortunate to have them on our board as we continue to augment and strengthen our governance as well as the planning and execution of Frequency’s future growth.”
About Dr Stanton Sloane
Dr. Sloane has been President and Chief Executive Officer of Comtech Telecommunications Corp. (Nasdaq:CMTL) since January 2015, and a Director of Comtech since January 2012. Prior to joining Comtech, Dr. Sloane was President and CEO and a Director of Decision Sciences Corporation. Previously, he was Executive Vice President of Integrated Systems & Solutions at Lockheed Martin Corporation. He began his business career with General Electric Aerospace. Dr. Sloane holds a bachelor’s degree in Professional Studies (Aeronautics) from Barry University, a master’s degree in Human Resources Management from Pepperdine University and a Doctor of Management degree from the Weatherhead Business School at Case Western Reserve University. He also served as an officer in the U.S. Navy from 1976 until 1981.
About Russell Sarachek
Mr. Sarachek has been Managing Director of Contra Capital Management, LLC since 2002. From 1992 to 2002, he held various positions, including Executive Vice President and director of mergers and acquisitions with Groupe Schneider, a global manufacturer and distributor of electrical equipment and industrial controls. Mr. Sarachek has extensive knowledge in corporate governance practices for public companies and has a range of aerospace and defense industry contacts that help strengthen the Board’s collective qualifications, skills, and experience.
About Frequency Electronics
Frequency Electronics, Inc. is a world leader in the design, development and manufacture of high precision timing, frequency control and synchronization products for space and terrestrial applications. Frequency’s products are used in satellite payloads and in other commercial, government and military systems, including C4ISR markets, missiles, UAVs, aircraft, GPS, secure radios, energy exploration and wireline and wireless communication networks. Frequency has received over 100 awards of excellence for achievements in providing high performance electronic assemblies for over 150 space and DOD programs. The Company invests significant resources in research and development and strategic acquisitions world-wide to expand its capabilities and markets.
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